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How to correctly estimate the price of your house?

Posted by Annabelle Martinat - Journalist at PAP.fr



To sell your house well, it must be at market price. Neither overvalued nor undervalued. Location, address, surface but also quality of services... you will have to take these different criteria into account in your estimate.


Properly estimating the price of your home is the best way to facilitate its sale. It should neither be underestimated nor overestimated. To determine the value of your property objectively, the ideal is to multiply the sources of information (real estate advertisements, notary, online estimation tool, word of mouth, etc.). You can call on a professional or choose to carry out the estimate yourself, taking care to collect all the necessary information.


Know the local market to properly estimate your home

To avoid falling into the trap of overvaluation or undervaluation, it is important to know the local real estate market. The city, the location and even the environment are criteria that come into play in the evaluation of your home. A location that differs within the municipality itself can be enough to vary the amount of the sale in more or less significant proportions.


Do not hesitate to compare your property with similar constructions. Consult the real estate advertisements of the houses put up for sale on the municipal territory and if possible in the same district to find out the market value of your house. This is the best way to get an idea of ​​the prices in a geographical radius near you.


How to calculate the value of a house?


No rules in this regard. Determining the market value of a house depends on many criteria:


its surface and the number of pieces are naturally essential

the size and quality of the land are also important

the rarity of the property offered for sale

the general condition of the construction and the quality of its services (kitchen, bathroom, etc.). If the house needs to be freshened up with a lick of paint, expect a price drop of around 5 to 10%. On the other hand, if more important work is to be planned, it will be necessary to consider a discount of between 10 and 30% depending on the extent of the work to be carried out. Conversely, if the house has been recently renovated and all that is left to do is put the furniture in, you can apply a 15 to 20% markup on the average price.

the southern or eastern exposure also enhances the price

pay attention to the presence of easements (right of way, view or ladder) which can also influence the decline

a beautiful terrace, a veranda, a swimming pool, convertible outbuildings, a large cellar... All these developments add value to the property by 5 to 10%

the heating and the hot water production system and energy (gas, oil, electricity) are today criteria taken very seriously by buyers

the classification of Energy Performance Diagnosis is also decisive on the final sale price.


The green value influences the real estate price

A poor DPE classification has a direct influence on the selling price. The Higher Council of Notaries unveiled a study at the end of 2021 on the green value of housing sold in 2020. Unsurprisingly, we learn that well-classified houses (A or B) are on average sold much more expensive than their counterparts in letter D .


An example ? In the Centre-Val-de-Loire region, these villas at the top of the ranking benefit from a premium of around 17%. Conversely, energy sieves (F-G) can lead to a discount of up to 20% for a building in New Aquitaine. In Île-de-France, given the strong demand and the scarcity of supply, poor rankings have a lesser effect on the selling price.


What is the best site to appraise your home?

Once you have defined the value of your property, it is possible to refine the result using the many online estimation tools. But beware, not all are created equal! While some applications are based on basic operation, others are more advanced. The PAP site, for example, compiles data on selling prices from the Land Value Requests (DVF) database and data from advertisements published on PAP.fr.


It further displays nearby recorded sales and their prices on a map background. To obtain a price range, all you have to do is fill in all the characteristics of the house: address, number of rooms, surface area of ​​the house and the land, type of heating, swimming pool... In a few clicks you get the estimate.


The Patrim tool, developed by the Ministry of the Economy, was designed using data from the tax administration. It also allows you to know the selling price of real estate (housing or land) corresponding to your criteria. It is accessible by logging into your Individual space on the tax website (Then section Public data / Search for real estate transactions to help me estimate my property). The results provided present the details of all the real estate sales corresponding to your criteria: type and area of ​​the property, sale price.

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