There are numerous free online calculators on the Internet that you can use to calculate the value of your property in just a few minutes. Many brokers also have a valuation calculator on their website. So you might think that the online tools replace a professional appraisal. But this belief sometimes costs money and time, because the online calculators only help owners with the initial assessment.
You can find this tool on many websites of real estate agents and on real estate portals. For the calculation you need to enter some data, such as the location of the property (zip code), the living area, the number of rooms, the condition of the building and the type of property (detached single-family house, apartment, row house, apartment building, etc.). Such calculators are therefore a good way to get an initial estimate of value. Especially if you bought your property several decades ago, today's value may differ greatly from the purchase price at that time.
However, the online valuation does not include any individual features of your property. So when you look at how the calculation works online, it quickly becomes clear that this is only a rough guide value:
For the calculation, the data you enter is compared with that of similar properties. The quality of the data is crucial. Sometimes offer prices, which are often higher than the actual purchase price, are used for this flash calculation. Sometimes, however, the figures of real sales prices are taken on the basis of the sales collected by the appraisal committees. Often, the dataset of these online tools is not transparent to outsiders.
Of course, the data pool is better and more up-to-date for a large city, where far more properties are sold than in a village. And it is easier to compare an apartment with another apartment than a single-family house with another home. This is because there are many other factors that determine value here, such as the size of the plot, the condition of the garden, attachments such as garages, conservatories, etc.
Regardless of the location and type of property, experts advise against using the value determined online as the basis for the offer price. If the value determined is too high, the selling time will be unnecessarily protracted. Conversely, you may miss out on high revenues. For a precise valuation, it is therefore advisable to consult a local real estate agent who can carry out a valuation in accordance with the Real Estate Valuation Ordinance. In this way, the sale of real estate is quick, uncomplicated and at the ideal price.
Are you interested in a professional real estate valuation? Contact us now, we will be happy to advise you.
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