Are you thinking of buying a property in Fuerteventura? Don’t you know the real estate market on the island? Don’t worry, we are here to help you. We will provide you with useful tips to calculate the right price of a property for sale in Fuerteventura. With this information, you will be able to make a good decision and secure your real estate purchase.
Location of the property
The location of the property is a determining factor. The price difference between a home in the heart of a capital city and one in the suburbs can be significant. Aspects such as the number of inhabitants, proximity to essential services, transportation and activity in the area are elements that directly affect the value of a property.
The orientation and height of the property also play a crucial role; ground clearance and panoramic views can make the difference from one price to another.
Square footage and condition of the property
Another essential aspect is to evaluate the dimensions and condition of the property. The quality of the construction materials and the size of the property are determining factors.
A 30 square meter studio will not have the same value as a duplex penthouse with a private pool. Comprehensive renovations can also play a role; updated and well-maintained homes tend to have a higher market value.
Extras
Additional features such as the presence of elevator, parking space, storage room, terraces and balconies are elements that may influence the sale price. The proximity to landscaped areas and the offer of common services in urbanizations, such as swimming pools, gyms and saunas, are considered as a plus when it comes to setting a price or another.
Energy Efficiency
The year the home was built is an important factor to consider. More modern properties tend to have a higher value than older buildings. In addition, energy efficiency plays a key role in the appraisal; sustainable homes and homes with energy certification A may have a higher market attractiveness and, for that reason, their cost is higher.
Compare similar homes
When you want to buy a house, you have to carry out an exhaustive market research and one of the fundamental things you have to do is to compare similar houses to know if the selling price is the right one or not.
Filtering properties in the same location and with similar characteristics will give you an idea of the price range in the market. This comparison provides a valuable reference to know if the house you are looking at is at market price or not.
Reference value of the property: Cadastre data
Another resource is the reference value of the property, provided by the Cadastre. This value takes into account factors such as construction, land and other municipal criteria. By consulting this information on the Cadastre’s website, you will get additional guidance as to whether the price is right or not.
Consultation with real estate experts
Despite having tools and resources, nothing beats the experience of an expert. Going to a real estate agency with years of experience in the local market of Fuerteventura, will allow you to receive personalized advice. Professionals will not only help you to know if a property is at its real market value, but will also simplify the whole buying and selling process.
