Evaluate the object correctly - the right strategy

Hello,

I am still actively looking for an existing condominium or single-family house. Despite countless hours of research, I still do not feel properly prepared to accurately assess properties. How have you approached property valuation? Blind trust in a real estate expert? Do you bring them along for the second viewing? Somehow, I am missing an adequate battle plan.

The current situation at least gives me the impression that basically not much time remains to thoroughly check the property of desire. So that one rather has to take the risk of a "half" blind purchase.

Are you concerned about assessing the price correctly? Then look at real estate listings in your area. This is how you develop a sense for the price. If you like an apartment/house, ask for a second appointment, to which you bring a publicly appointed and sworn expert. This usually does not cost too much if you only ask for an oral assessment. This way you can better assess the condition of the property or where there are defects and what needs to be done.

For a first very rough estimate, you can always use the standard land value * plot area plus 2000€/m² * living space. From that, you directly subtract necessary renovation work.

It depends on where you search. In some places, you don't have time to think. In our current neighborhood, you can choose the buyer and sell the house within 2 weeks at a good price.

Search search search and take a specialist with you

Despite hours of extensive research, I still don't feel properly equipped to assess properties correctly.

Between a professional (e.g., a real estate economist with a 3-year training) and hours of research by an interested layperson lies months of comparison of various properties in different locations of a region... empirical knowledge... which develops over a long period through eager on-site visits.

Only then can you decide based on your gut feeling. Because the feeling also plays an extraordinary role, which you will not find in the research – only within yourself.