Some questions end up knocking down the sale potential of your apartment and frustrating the expectations of value you had projected. Understand more about them and when it is possible to reverse this situation.
4 factors that can affect the value of your property
First of all, you need to have a doable value in mind. One of the major obstacles at this moment is precisely the unrealistic choice of prices, either due to emotional involvement or lack of market knowledge. This can make the sale, which itself can take a year and a half, even slower.
For homeowners who want to avoid disappointment, good advice is to “never base the asking price of the property on advertisement portals or sales rumors in your building”. These words are from Gustavo Piersanti, from the Loft acquisitions team.
It is worth remembering that the deadline to sell can also affect the value. The more in a hurry, it may be necessary to give up the desired value for a lower and more attractive price.
All advertisers who choose to use the Loft website get help when pricing their properties through the Loft Estimate, a tool that is based on the website’s sales history, available city registrations, and effective values of apartments similar to yours. to ensure that your pricing is in line with market practices.
Remember that the final decision on the values is up to the owners and the tool only provides a pricing suggestion. Even after the announcement, it is possible to modify these values on the website.
Loft Estimate helps you shorten the sales process with pricing based on market parameters
The assessment is that the indication of values based on the legacy of the market considerably reduces the waiting time until a sale is made.
With so many variables at play and a market that is traditionally not very transparent, Gustavo Piersanti, from Loft’s acquisitions team, recommends, if in doubt, seeking professional help from realtors.
Well then, let’s go to the most common factors that can pull the value of your apartment down at the time of a sale:
The poor state of conservation – joinery, electrical installations, floors in wet and dry areas, etc. – is the main damaging factor to property value, according to Gustavo. “In a secondary way, we have other characteristics, such as walled views, low light, poor maintenance of the condominium and location. Added together, they do not contribute at the time of pricing”, he continues.
Do renovations add value to the property for sale?
A fresh coat of paint is essential, but conducting extensive renovations with an upcoming property sale may not be such a sound investment. Fixing leaks and removing mold and dirt, however, are always useful actions to improve the state of conservation.
According to brokerage Márcia Midori, the rest depends on the cost of the work and the price of the Construction. First, you need to have that realistic sales value, then deduct the costs of the planned intervention and check if there will be a profit in the end. As the work can be more expensive and longer than anticipated, it is difficult to be sure that it will work.
- Lack of acoustic comfort
Living in an urban center means sharing your visual and sound space with many other people in countless other activities. As the house is a place of rest and relaxation, the lack of acoustic comfort can make all the difference – and not infrequently be a reason for changes.
According to the World Health Organization (WHO), noise disturbance can have adverse effects on human health, ranging from hearing loss to sleep interference, stress, and increased blood pressure. Therefore, the level of acoustic comfort can interfere, yes, with the sale value of a property.
Keep in mind not only the occasional noise but also the noise inherent to the area, such as the proximity of a busy road where traffic (and horns) are common or airports. This is a nuisance to a greater or lesser degree depending on the buyer, and the apartment’s infrastructure (such as anti-noise windows), but it should be on your radar when setting the value of your property.
What noise level is considered harmful?
There are several federal, state, and municipal laws on noise pollution that determine what can and cannot be done, when and at what time, what is the maximum level of allowed decibels, and so on. There’s a reason: anyone who has ever spent time next to a large construction site or a noisy bar knows how unpleasant those moments can be.
It is true that these numbers are not always followed to the letter. That’s where the importance of having the information at hand to make an informed complaint comes in: there’s no point in complaining to the authorities if the noise, although inconvenient, is within the rules.
And what level of noise is considered harmful? In São Paulo, the municipal Zoning Law has the following limits:
- Residential zones: maximum 50 decibels (day) and 45 decibels (night)
- Mixed zones: maximum 55 decibels (day) and 45 decibels (night)
- Industrial zones: maximum 65 decibels (day) and 55 decibels (night)
To file a complaint, you need to call SAC 156 or visit the local Subprefecture and provide your personal data, as well as information about the event.
- Visual pollution
You open the window and a few feet away is your neighbor’s office in another building? This can affect the value of the property. Other possible consequences of visual pollution include lower luminosity and air circulation, which also decrease the value.
As a rule, the clearer the view, the better it is, which naturally favors high floors. The assessment of visual pollution must be done on a case-by-case basis. Pay special attention to the view from the living room and bedrooms.
- Works in the neighborhood
A city like São Paulo is always changing, growing, and rising. In the short term, a work (or announcement of future work) can be either positive or negative, depending on the results, duration, and proximity.
“New construction of subway stations and good leisure businesses can positively influence the price”, says Gustavo. “Negatively, I see the construction of new neighboring projects, which can lead to loss of sight of the property and also cause low light in it.”
In practice? A mall going up a block from home can be good news for future prices, as it brings practicality and adds value to the region, but its construction can disrupt the routine – and this can affect the price at that moment.
If it is a work that will value the region in the near future, one solution is to seek investors as potential objectives of its sale, after all, in this niche, it is common to make long-term investments.
