Costa Brava: How to value your second home?

The Costa Brava is a small corner of paradise in Spain where real estate transactions are always at a premium. While some are buying, others prefer to rent or sell their homes. In the case of a property sale, a proper follow-up is necessary to make sure you get a good deal. If you want to part with your second home on the Costa Brava, or on the contrary acquire one, there are some things you should know beforehand.

Why should you value your holiday home on the Costa Brava?

A property valuation is usually part of the process of buying or selling a property. When you decide to have a property valuation done on the Costa Brava, you can obtain legal and architectural information about the property in question. Whether you are the buyer or seller of a second home, you can request a home valuation.

Known as "tasacion", this is a procedure that can only be carried out by professionals. It has many advantages and follows well-defined criteria to achieve a realistic and objective result. The main aim of this procedure is to determine the ideal price at which to sell a property, taking into account specific characteristics.

What are the criteria for assessing the price?

Have you decided to sell your holiday home on the Costa Brava? In order to do so, you will need to estimate the value of the property in order to propose an appropriate price. To do this, here are the points you need to focus on.

Being objective

When you want to put your home up for sale in Catalonia, you probably have an idea of how much it will cost or how long the process will take. But in the end, it is not up to you. In fact, the starting price you propose can be revised upwards or downwards depending on the characteristics of the property and the trend of the property market in the Costa Brava region.

Being objective also means not letting your emotions get in the way of your pricing. You must put the customer first, as buyers usually have the final say. Just because your house is beautiful does not mean it will sell for a fortune. Similarly, just because it is old does not mean it is worthless.

The general condition of the dwelling and the quality of the construction

The external appearance of the house is important in assessing the price of a house, but it is not decisive. In fact, the higher the quality of the building materials, the more the property will increase in value. You should also check the quality of the insulation. You should also consider whether the property needs renovation or whether it can be sold as such.

The more recent and attractive a property is, the higher its value will be. Moreover, if it is well oriented, its selling price will be more interesting. Depending on the region, a north-facing house is not worth the same as a south-facing house. If your home has just been renovated, then its price should be able to rise.

Comparison of properties in the city and neighbourhood on portals

The properties compared on portals such as Idealista, Habitaclia, Fotocasa are subject to specific criteria. In most cases, it is a group of properties with the same characteristics that are located in the same neighbourhood. This is where the individual characteristics of the dwellings can increase their value. These include the presence of lifts, floors, a caretaker (if it is a block of flats), good windows, etc. In fact, if your property is located in a building, the characteristics of the building also influence the value of your property. This comparison helps to assess the market trend, but also to determine the average price for each property.

The calculation is made according to each district. The price per square metre varies from one area to another and is adjusted according to market trends. A precise and detailed comparison of homes throughout the Costa Brava can be found on these property portals, which are continually updated.

The environment

The area in which your home is located and its exact location are determining factors in estimating its value. For example, a house close to the city centre, not far from shops, transport or a tourist site will be worth more. The same is true if the house offers a view of the city, a beach, etc.

However, if your second home is in a remote area, its value will be reduced. The environment is also the presence or absence of green spaces, balconies, terraces or any other facilities that extend from your home. The presence of an internet connection and access to a swimming pool are also assets that will help to increase the value of your property.

The distribution of rooms and surfaces

It is good to have large areas, but it is better to use them wisely. Large rooms should have areas and layouts that are consistent with their uses. A living room that is too large for a very small kitchen is considered a poor distribution of your space.

Finishing touches to the residence

When we talk about finishes, we are referring to the materials in important rooms such as the kitchen and bathroom. It also refers to air conditioning and heating. A house with a bad DPE (diagnostic de performance énergétique) will see its price drop.

Market trends

The majority of property investments on the Costa Brava come from foreigners. After a slight drop in activity due to the health crisis, the Spanish property market has a bright future ahead of it. However, current trends seem to be moving towards greater rental demand than purchase demand.

In addition, we have noticed an increased demand for houses with a terrace or T4 flats. Most buyers are tourists looking for holiday homes, pensioners or couples looking for a quiet and peaceful place to live. In general, the average price per square metre varies from 2411 to 2755 euros.

The value of seeking the advice of a professional estate agent

In real estate, if you don't have the right advice and/or the right tools, you can easily lose time and money. So, in order to save these precious resources, the best thing to do is to contact a real estate agency when it comes to estimating your property.

An agency like Immo365 will have greater resources and a good understanding of the Spanish property market. It will also have a better knowledge of the property stock in each region. Furthermore, it is best placed to appreciate the market trends at their true value. Therefore, an estate agent is best suited to provide you with an accurate valuation of your home.

This will save you from wasting time with administrative tasks and from proposing a price that is too low or too high. This way you can be sure that you will be able to conclude your sale quickly at a good price. You should also be aware that the valuation of the property is not enough to establish a price. Several other parameters come into play and only a real estate professional can help you avoid mistakes.