What determines a property’s value?
Market value is influenced by several factors. Location is important, as are living area, plot size, structural condition, layout, energy efficiency and recent sales in the surrounding area.
As a result, two homes on the same street can have different values.
For example, extending a home and modernising its interior does not automatically increase its value by the amount spent on the renovation.
Can you use the WOZ value?
The WOZ value, the property’s assessed value for tax purposes, can provide an initial indication, but it is not the same as its current market value.
The WOZ value is based on a statutory valuation date in the past. A current market valuation takes recent market developments and the property’s specific condition into account.
What if the appraised value is lower than the purchase price?
This is an important consideration when arranging financing.
With a standard mortgage, you can generally finance up to 100% of the property’s market value, subject to statutory exceptions, such as those for energy-saving measures.
If you buy a home for €450,000 and it is appraised at €435,000, you will generally need to cover the €15,000 difference yourself, in addition to the associated purchase costs.
What does OZQUR think?
A property is not automatically worth whatever someone is willing to pay for it.
At OZQUR, we distinguish between a property’s emotional value to a buyer, its market value and the value that can be financed.
We believe clients should understand these differences before submitting an offer.
Are you planning to buy a home and unsure about the asking price? Let OZQUR help you assess the market value and develop a bidding strategy.
At OZQUR Makelaardij, we help you find your dream home in 5 steps
1 – Introduction and valuation
We discuss your goals, view your property and determine a suitable asking price and sales strategy.
2 – Preparing your home for sale
We gather the necessary documents and arrange photography, a property measurement report and the presentation of your home.
3 – Presentation and promotion
We professionally market your home through Funda, our own channels, social media and the OZQUR network.
4 – Viewings and the best deal
We conduct viewings and assess offers.
5 – Sale and handover
We guide you through the purchase agreement, agreed terms, final inspection and key handover, and provide after-sales support.
Curious how quickly your home could sell? Contact OZQUR Makelaardij.
Yucel Samanci
Buying and selling agent at OZQUR Makelaardij, specialising in purchasing strategy, negotiations and guiding Dutch, Turkish and expat clients.
