It's important to be rigorous when setting a price in order to get a good deal. You don't want to set the price too low and lose out, but you also don't want to set it too high and keep the house for sale for too long. To do this, you should get advice from professionals in the field, do some research to find out what the market is like in the area where the property is located and, as a last resort, request an appraisal.
Even so, you should know which factors to take into account before determining the price of your property:
Age of the property - The age of the property is one of the main factors influencing its price. Logically, the newer the house, the more likely it is to be worth more money, since the type of construction and state of repair will be better than, for example, a house that is more years old.
Location - Another relevant factor is location. A house with the same characteristics may have different values depending on its geographical location. On the other hand, in addition to geography, it's also important to analyze the area's surroundings, i.e. services, access, etc. Thus, the area where the property is located and all its surroundings serve to increase or decrease the value in order to determine the price.
Typology - Another factor that influences the price of a house is its typology, i.e. the number of rooms. As a general rule, the more bedrooms a house has, the higher its market value will be.
Size - The size of the property will also influence its price. The square meters of a house are usually proportional to its value. The bigger the property, the more expensive.
Outside space - Outside space is also important in determining the price. If the property has a garden, balcony or terrace, it will probably be worth more. The same goes for amenities such as a barbecue, swimming pool, garage or other facilities.
Sun exposure - Another important factor to take into account is the property's natural lighting. A house with sun exposure, better natural lighting, warmer and therefore more energy efficient, will be more comfortable and therefore probably more expensive.
Height of the fraction - If the property you're putting up for sale is an apartment, the floor will have an influence on the price. The higher, the more expensive, as a general rule. In other words, a house on the 5th floor tends to be worth more than one on the first floor, for example. This is because the higher the floor, the more exposure to the sun and the better the view.
If the building doesn't have an elevator, the higher it is, the cheaper it is, as a general rule.
Security - Another relevant issue when determining the price of a house is the level of security. If the property is located in an area where there is a feeling of insecurity (regular muggings and disturbances), this will certainly take away from its value.
Source: Diário de Notícias