Valuation by year of construction – A property valuation is especially important when buying your first apartment. This includes the valuation by year of construction of your house or the building in which your condo is located. So what is the age limit of a building? You can find the answer in this article on valuation by year of construction.
When is a building too old?
The commercial audit and the technical audit are followed by the valuation by year of construction. So when does a building have too many years on its back? For you as a buyer of a property, the year of construction is a central factor in the final purchase price. The older and more dilapidated a property, the lower the price, but you have to expect high renovation and maintenance costs. The newer and more modern, the higher. Exceptions are buildings under monument protection.
When buying real estate applies:
- The year of construction and the age of buildings, are always a key value factor for real estate buyers.
If you want to know more about the years a property was built, read our article on properties by year of construction here.
Advantage and disadvantage of old real estate?
Advantage of old real estate:
- Lower purchase price
Disadvantage of old real estate:
- High maintenance costs
Does the age of a property matter?
Maintenance, renovation and modernization play an important role in real estate. If you are the owner of a building or apartment, you should take care of it regularly, so real estate will last for many years. Nowadays, the trend goes in the direction of old buildings, many people are attracted to the charming apartments with high ceilings and stucco. Such an old building is almost always in a good location, so in the city center and thus also cost a lot of money. So you should always weigh whether you buy a new or old building and in what location this property is located.
- Old building in downtown very expensive
- Through maintenance, renovation and modernization, real estate lasts longer
- Trend: old apartments
The next step: Incidental purchase costs
Year of construction and condition of real estate: defects, damages & Co.
We know now, about the age of a property must be well thought. You want to invest in an old building? Then you need to consider a few things before buying. Old real estate brings some advantages, but also disadvantages. What defects do buildings from a certain period have? We have compiled a brief overview of all the facts of the different construction years in comparison.