Berlin house valuation
Finding the value of a Berlin home is not an easy task. There are almost no Berlin houses that are exactly the same, and even when the Berlin residential property is comparable, the land value often differs
Berlin house valuation – Berlin property prices as a first guidance
The current Berlin real estate prices give a first idea of the possible value of a Berlin house. A single family home cost on average 400,000 euros and a terraced house about 250,000 euros. Houses in Berlin Zehlendorf are more expensive than in Pankow or Reinickendorf and of course the Berlin property prices vary from district to district and from house type to house type (e.g. a centre row house is worth less than a side row house).
Berlin House valuation - the importance of location
As for every type of berlin properties the value of a Berlin home depends greatly on its location. Important criteria for the evaluation of a location are:
- Access to public transports, schools, shopping centres, cafes, etc.
- Proximity to water, parks, green spaces
- Surroundings development
The location of a Berlin home has a significant impact on the land value, which in turn is used to determine the market value of the Berlin home.
Berlin House valuation – intrinsic value and possible uses
In addition to location, the intrinsic value of the Berlin house (the way it was constructed, the quality of materials, the equipment and its condition) and the possible uses largely determine the market value of the Berlin home. In assessing the intrinsic value of a Berlin house many factors play a role (e.g. thickness of the masonry, insulation of the roof, how old the electrical system is, etc.).
The options for use encompass not only the current usage (number of rooms, bathrooms, etc.), but also the expansion/upgrade options (e.g. possibility to build a winter garden). Depending on the method of valuation used, these factors have a different impact on the market value of the Berlin home. For the determination of the Berlin property market value 3 different methods can be used, which differ in their approach:
- Income approach
- Cost approach
- Sales comparison approach
It is important to remember that in the end, a Berlin house is worth the highest price that the buyer is willing to pay.
Free Berlin house valuation
You plan to sell your Berlin home and before proceeding you want a free and professional evaluation? Simply fill out the form on this page. We will get in touch with you and recommend a knowledgeable partner of the Berlin real estate market, who is a member of the German Real Estate Association that will undertake the assessment of your Berlin house for free.