Methods of calculating the cost of the apartment It is quite widely covered and theoretically developed, which is evidenced by a huge amount of literature and methodological assessment guidelines.
This promotes the developed real estate market. Moreover, the number of proposals is equally varied on the primary and in the secondary housing market.
Current legislation and federal assessment standards have established a requirement to use three main approaches to the assessment: a comparative, cost and profitable approaches. However, in the case of an assessment of real estate, which is an apartment, the cost and profitable approach of low-rotations. The assessment of the market value of the apartment is carried out by applying a comparative approach. The following algorithm: 7-10 real estate analogues are selected, corresponding to the assessment object for the main characteristics. In case of inconsistencies or differences from the assessment object, corrective coefficients are introduced. As practice shows, the main adjustments are:
- On the location of the object
- Adjustment on the physical characteristics (apartment area, ratio of useful area to the common, furniture, finishing type, kitchen size, bathroom type, apartment location in the house, having balcony / loggia)
- For the presence and type of car parking
Further, after applying the appropriate adjustments, the average market value is allocated 1 sq.m. Apartments. Moreover, it is necessary to note the existence of the difference between the concepts of "Market value" and "selling price". The appraiser determines the market value of the object under which the "most likely price that an assessment object can be alienated at the date of assessment on the open market in the context of competition" (Federal Standard of Assessment No. 2 The purpose of the assessment and types of value). This means that all participants in transactions are aware of the conditions and are free in their decisions. Market value and there is a subject of research and calculations of the appraiser. The sale price can be dictated by factors that are not subject to constraint data, which fundamentally distinguishes the economic meaning of these definitions.
This difference is obvious on the example of assessing the share of the apartment. Meanwhile, in the need for such an assessment, a large number of citizens are convinced: this is the entry into the inheritance, which sometimes is part of the apartment, and judicial procedures in the division of property, for example, when divorced and, in the end, the transaction for the sale and sale of relevant apartments .
In the appraisal practice among specialists there is no single point of view. The main discussion occurs around the need to apply adjustments, discounts per 1 sq.m. Apartment shares compared with 1 sq.m. Apartments like a single property of real estate. This confusion also contributes to the lack of a full market for the sale of the purchase and sale of apartments.
First of all, it is necessary to have a clear idea of \u200b\u200bthe context and legal nuances, in which the need for evaluation arises. The first thing to determine is that it is an estimated share of the apartment - whether it can be highlighted in kind, in the form of a room. If the answer is yes, then the classical methods of assessing the share of as a separate room, the room work.
The acquisition of a share in the apartment is associated with a number of difficulties, which obliges to reduce the cost of a square meter when assessing the share of the apartment, however, it should be noted that these problems and inconvenience difficult to translate into monetary expression.
Every co-owner has equal rights to that share in the apartment that is fixed. When the assessment of the share in the apartment increases the cost of a square meter compared to the cost of a square meter in the entire apartment, the appraiser puts co-owners into a somewhat unequal position, since the buying party must pay for the ownership of the entire apartment more than in the event of the acquisition of a similar apartment on the open market. . If the assessment of the share in the apartment reduces the cost of a square meter compared to the cost of a square meter in the entire apartment, the selling side does not have the ability to reverse the means to purchase an equivalent real estate object.
In this case, one should proceed from the essence of the transaction with the appropriate share. For example, in the case of redemption of the remaining share of the apartment from other owners - the cost of a share may increase, because In this situation, part of the apartment is bought, providing unity of property rights, i.e. A synergistic effect is observed - i.e. There is something more purchased than part of the apartment. When it comes to buying a share of third parties, then perhaps the use of lower adjustments.
But it is impossible to accurately calculate accurately with respect to the value of the apartment for the entire apartment in relation to the cost of the apartment of the entire apartment with respect to the cost of the unit of the entire apartment unit, but you can only assume. It should be noted that at the same time the price of the transaction can differ significantly from the market value of the share of the apartment.
Thus, the appraisers should use the cost of 1 sq.m. The shares of the apartment corresponding to 1 sq.m. Apartments in general, subject to the observance of Art. 250 "Preferential purchase right" of the Civil Code of the Russian Federation, the following: "When selling a share in the right of the common property, the remaining participants in share ownership have the preferential right of buying a selling share for which it is sold, and on other equal terms, except for the case of sale with Public trading, "which means mandatory compliance with the legal procedure for providing the right of co-owners of the apartment to acquire this share in preferential mode.
Head of the Evaluation Department of Eurasia Service
Valid member of SRO ROO (Registration No. 0003083)
When preparing for the assessment of apartments, our company's specialists use various methods and approaches. The application of the methods of a comparative approach is not without the use of adjustments when determining the value of the estimated object.
Application of adjustments (amendments) depends on many characteristics of the estimated object (date of sale, bargaining and conditions of the future deal, the legal registration of ownership of the object and the presence or absence of restrictions of property rights, location and distance from public transport stops, floor, house type, interior decoration The premises, the ratio of the total area to the residential and kitchen area as part of the apartment, the presence of a separate or joint bathroom, the presence of balconies or loggias, the view from the windows of the apartment is to the outside of the street or to the courtyard).
Of course, all adjustments require proper justification and explanation. Therefore, below we will try to bring together and substantiate the size of one or another adjustment (amendment) during the assessment and determination of the market value of the object.
1. Adjustment on bargaining
In the study of the current situation on the market at present, as well as on the basis of the experience of assessing the set of objects, the magnitude of the amendment to the bargain is 7%. In rather rare cases, the price of the transaction and the offer price coincide. Please note that when adjusting the bargaining is taken into account the difference between the price of the transaction and the price of the existing proposal. How do you detect this difference? In the course of mutual negotiations about the price, i.e. in the process of bargaining. The initial price in most cases is significantly higher than the real value of the object. This allowance, according to our calculations, is the above 7%.
2. Adjustment at the date of sale (sentences)
In many cases, the date of sale of the assessment object passed some time (for example, more than a month), respectively, there were changes in the market, which touched, first of all, the price level. Adjustment at the date of sale takes into account these changes, namely, that time interval that took place before the publication of information about the sale price.
Correction on the date of sale means that changes were taken into account and change in price increases in the market. This moment is very important to take into account when evaluating and amendments.
3. Adjustment on the terms of the transaction
When assessing the object, in relation to which the subjects intend to make a deal, the conditions of the transaction itself are also taken into account. If the assessment object is free from the rights of third parties (for example, no one is registered in the apartment), i.e. Free and in legal and physical plane, then apply adjustment to the terms of the transaction - by 10% more expensive. This is the average amendment. In order to make clarity, we give an example - if you need to evaluate the apartment for sale with a simultaneous purchase (exchange), then the cost of the apartment will be less than the value of the specified adjustment. The rationale for this is the waste of time to search for an exchange option, which would satisfy the wishes of the two sides of the transaction.
4. Adjustment on ownership
The cost of the object is influenced by many factors. It is necessary to take into account the parameters that reduce its cost. Under the right of ownership is understood as the difference between the price of the object in the presence of property rights issued in accordance with legal norms and requirements.
If the state registration of the ownership of the assessment is not carried out, the adjustment is 5-10% per lower cost. A similar amendment applies to various restrictions on ownership or other burdens. In such cases, the cost of the object is reduced and, accordingly, the price of the transaction decreases.
5. Adjustment by location
This characteristic of the estimated object, as a location, is the most common, as well as one of the most significant in determining the cost of an apartment in the conditions of existing market relations. The need to amend the location occurs in the case when the location of the object differs from similar objects. If the apartment is removed from the metro station or the stop of other public transport, this is directly affected by its cost in the direction of the decrease. Conversely, the approach is an approach to places of stopping trams, trolley buses, buses and metro stations increases the price of the price of an apartment.
The adjustment is up to 15% in case the apartment (estimation object) is removed from the bus (trolleybus, tram) stop or, in order to get to housing from the metro station, you need to use ground transport, it reduces its price. Moreover, every 200 meters from the station of public transport to the apartment, namely every two minutes who need to go on foot to get to the house, also affect its price in the direction of lowering by 1% (for every 200 meters).
6. Correction on the floor
When assessing the apartment, the floor is taken into account on which it is located. The factor that affects the cost is at what floor it is the apartment located on the first floor, on the last or between them. If the floor is the first, then it entails humidity and low air temperature in the apartment, as well as, as a rule, in apartments on the first floor there is not enough natural daylights due to the trees or bushes planted around the house. As for the last floor, it is the likelihood of the roof leakage and strong heating of windows in the summer. The problem with water pressure due to the upper floor is not excluded. Therefore, apartments on more upper floors will cost more than apartments on the lower floors
The adjustment to the floor is 15% - to the first floor and 10% - on the last one.
7. Adjustment on the class of finishing quality
Repair and quality finishes affect the cost of the apartment in the most direct way. Impeccable and high-quality finishes increase the price by 10%.
Adjustment on the class of quality finishing is calculated by analogy with a similar apartment.
At the same time, four types of finishes are distinguished:
- without finishing - there are no interroom doorways, windows, walls, floor and ceiling are not subjected to finishing work. This is a primary finish that requires repair work.
- simple finish - walls and ceilings of the apartments are whitewashed or saved by wallpaper, on the floor - tile, linoleum or parquet layout, bathroom and kitchen are equipped with plumbing.
- improved finish - walls and ceiling covered with acrylic paint or wallpaper, on the floor - tile, linoleum or parquet layout, bathroom and kitchen are equipped with high-quality plumbing.
- high-quality finish - the apartment has high-quality repairs, and modern construction technologies and high-quality materials were used. The surfaces are perfectly aligned, the apartment is equipped with the latest electrical wiring and plumbing. Redevelopment is allowed by an individual project using the structures of a complex compound configuration.
8. Adjustment on the type of house
When determining the market value of the apartment in the process of assessment, this characteristic of the object as a type of house in which this apartment is located is taken into account. Based on the overall appraisal practice and our experience, in particular, an assessment object located in a block of block or panel type, which is 10-15% cheaper.
But this amendment does not apply if the apartment is located in a brick or brick-monolithic house. At the same time, apartments are compared, which in the rest, except for the type of house, have similar characteristics. As can be seen from the essence of the adjustment used, more modern and eco-friendly materials increase the cost of the assessment object.
9. Adjustment on the total area, residential area and kitchen area.
When assessing the apartment, the fact is taken into account that the large area of \u200b\u200bthe object reduces the cost of the square meter. As well as the living area and the area of \u200b\u200bthe kitchen also plays an important role when applying adjustments. Thus, apartments in which the living area and the area of \u200b\u200bthe kitchen are more costs are higher than their counterparts with less residential area and kitchen area.
When assessing the apartment, the following adjustment on the area is applied - every 5 sq.m. Reduce the cost of one square meter by 1%. When compared with a similar apartment, which differs only with an area, appraisers use this adjustment.
In addition, the amendment is often made and, depending on the area of \u200b\u200bthe kitchen, because Its size affects the total cost of the apartment in the housing market. Adjustment is applied at the rate of 0.5% per difference in 1 sq.m. Kitchen.
10. Adjustment on the view from the windows
The view from the window in most cases a lot affects the cost of the apartment. This is explained simply - when making a transaction and purchase of an apartment, new owners receive not just a view from the window, but an environmental characteristic. Apartments that are located with windows on the outside of the street, on the road or road highways - are noticeable more cheaper than those apartments whose windows overlook the courtyard. But, most expensive there will be apartments that have windows on both sides - and on the street and on the courtyard. In general, the adjustment on the view from the windows is 10-15% of the value of the assessment object.
11. Adjustment for balcony / loggia
An essential factor in determining the market value of the apartment is the presence of a balcony and (or) loggia. In addition, balconies (and / or loggias) can be somewhat and it increases the price of the object. If the apartment has a balcony (and / or) loggia, this is taken for a positive characteristic and is considered to be an improvement. This parameter is taken into account when evaluating almost any apartment. The magnitude of the amendment (adjustment) is from 0 to 5%. As can be seen, the gap between the lower and the upper threshold of the amendment is very significant, and is used in each case individually, but compared to the apartment-analogue.
12. Correction on the bathroom
When evaluating and determining the market value of the apartment, special attention is paid to the planning of the sanitary and technical assembly in the apartment. In addition to the foregoing, in some cases, the number of bathrooms is taken into account (not always in the apartment's one bathroom). The apartment in which the toilet is separated from the bathroom, claims a higher cost, rather than an apartment with similar descriptive characteristics, but with a joint bathroom. In this case, the adjustment is an average of 5% of the value of the assessment object.
13. Adjustment on the liquidity of the share in the apartment
There are no cases when the assessment is required against the non-apartment, and its parts, i.e. lolly. In this case, the addition of adjustments is inevitable, because A lot of factors affect the market value of the share in the apartment.
At the same time, all those parameters that would be taken into account during the assessment of the apartment as a whole, and not only its shares are taken into account. And also, you need to consider the fact that the share in the apartment is much more difficult to sell or buy than an apartment as an independent one-piece object. This moment also affects the determination of the value of the share.
When applying adjustments to the liquidity of the share in the apartment, it ranges from 10 to 40%. This is a sufficient big gap between the lower and the upper threshold, so you need to take into account the characteristics of the share of the share, as well as the characteristics of the entire apartment.
1) Adjustment on "bargaining" allows you to accomplish the price of offer to the sale price. As a result of a survey of participants in the residential real estate market, Simferopol (real estate agency "Russian Crimea", "Orion", "Rielkom", "Veta", "Crimean Terem", "Real Estate Parade", "VIP Chance") revealed that discount on Bargaining when selling such a residential real estate averages 10%.
2. Adjustment on "Real estate services" allows you to adjust the prices of suggestions from real estate agencies for the cost without taking into account the costs of their services. As a result of the analysis of average prices for real estate services (Real estate agencies "Infoservis", "Business Crimea", "Crimea Plus", "Rio", "World Real Estate", "House-Plus"), the appraiser found that the average cost of real estate agencies is 5%.
3. Adjustment on "location" for all objects analogs was 0%, since the assessment object and these analogues are comparable to this factor.
4. The adjustment on the "Material of the walls" for all objects - analogues was 0%, since the assessment object and analogues are located in panel houses.
5. Adjustment on the "Year of Construction". All other things being equal conditions, the price of an apartment in the inverse proportion depends on the year of the construction of the house due to the increasing physical wear of this building. This adjustment was not used since the estimate object and object objects are comparable to this criterion.
6. Adjustment on the "floor". Apartments located on the extreme floors of residential buildings, with other things being equal, have a lower in terms of 1 sq.m. Cost compared with apartments located on medium floors. This adjustment was not applied, since the assessment object and objects analogues are located on the last floor of five-storey buildings.
7. Adjustment on the "number of rooms" of all objects - analogues is identical, so the adjustment was not applied.
8. Adjustment on the state (availability of equipment and furniture). Based on the analysis of the market conducted in Section 3, it was revealed that the cost of 1 sq.m. Apartments with furniture and built-in equipment is 12% higher than in apartments without such equipment. Consequently, the appraiser applied downward adjustment for this magnitude.
Table 13.
Thus, the sample is homogeneous and can be used to determine the value of the assessment object. In addition, the value of the value of the proposal of the selected analogues is in the average market.
