I can't seem to figure out the real estate market here,I want to avoid be burned on a bad deal.
http://www.homegate.ch/buy/103654287...ault&l=default
Was thinking of offering 480,000.
Hi, having lived in Zurich for 5 years , we are ready to move. Have been looking at the Staefa area, but that seems a bit too much for us. We did see this place in Hombrechtikon, but I find it hard to figure out how much it's worth. Sellers are asking 490,000. Is this too high, too low?
Welcome to the forum.
Thanks.
Just did a valuation on homegate.ch, it lists the value at 640,000, which seems a big difference from the 490,000 asking price.
I would love to know how anything next to a school is quiet.
Well, this is Switzerland. Do you think that's why it's listed at 490,000 instead of 640,000?
Actually when we saw it the school is across the street, not right next to it. The estate agent said this would make it a convenient location for our child.
I am just worried someone would go in and offer 490,000 or more. Then we are back to square one. The new builds are out of our budget.
We had a similar situation once, and the story was that the bank actually valued it much lower. We gave them the address of the house and they gave us the bank value for free and over the phone. NOt sure if this is always the case, but perhaps worth a try?
It looks like a nice house. Have you asked the bank what their valuation of it is? This would play a big role in the actual price asked.
How is it heated? And how old is the heating system?
How is it insulated? And where is it insulated ..... is the cellar ceiling or floor insulated? ... is the roof insulated .. or the floor of the attic? (insulation on only the attic floor will make the attic unusable in winter and add to heating costs. Ditto the cellar.
What is the condition of the electric wiring?
What is the condition of the water piping - from street to house.
Sometimes, a pretty house is not a practical house, and can gobble up money for you.
The price seems reasonable. Just ask some of the above questions before committing yourself.
Haven't checked with the bank yet. This is for a flat in the building, not the whole place. 6 apartments all together. From what the agent told me, it's floor heating, and oil heat.Maintenance costs about 5000 year Also, new windows are being installed through out the entire building
if it is sold by an agent the valuation is done with a programme , pretty much the same one the banks uses. give in all the info and it will give you a price.
It's worth what somebody will pay, the market is very slow in CH, people prefer to buy new. Most property sticks on the market for years. There was a 3 year old house I looked at, the owner paid 1,350,000 & would have sold it for 790,000, just no takers.
Thanks, I see you are an agent also. Why would homegate value it at 640,000, but only be offered at 490,000?
Homegate is just guessing, there is mention of land in the advertisement, I doubt any land is actually included in the sale as it's a flat.
A small piece is included , big enough to have to mow, and maybe a swing set for the kid. The flat is on the first floor, so not as practical as being on the ground floor.
I wish the homes here looked anywhere near that good for that price. In that price range, you're typically looking at a 500 year old pile of rocks.
Swiss valuations are based on Cost to build new then depreciated. Renervations then are added & depreciated further. Bear in mind a new Kitchen & Bathroom could add 60-100K
cause homegate does not add in some factors. This programme is very detailed. takes close to an hour just to get info in. looks at renovations etc etc and then it makes an analyses to what the prices were from certain years to certain years. The homegate one is basically just to give you an idea.
And now the agent pitch : people that sell on their own will not take some of these factors into consideration and think their house is worth from sites like homegate. the house will not sell, people see they drop the price and then decide to see it drop even further. Here in CH if the property is not priced just right (overvalued) it will not sell.