Determine the value of your home
It makes sense to check the value of your current home if you want to sell it or are looking to buy a new one. But how do you determine the value of a house or flat? There are several ways to work out how much a property is worth.
Professional property valuation
A professional valuation offers certainty. This type of valuation is provided by a property expert such as a surveyor, architect, estate agent or notary public.
Did you know that Immoscoop can also help you obtain a valuation? If you provide a few details, Immoscoop can select the right experts to visit you in no time. These real estate agents are familiar with your region and have experience with similar properties.
They also take into account various factors such as the location, year of construction, the level of finish, the (habitable) surface area and the energy performance. If you’ve already carried out renovations to improve the insulation of your home and make it more energy-efficient, that will significantly increase the value of your property.
Having your property valued by Immoscoop is completely free of charge.
Estimate the value yourself
An easy way to get an idea of a property’s value is to compare it with others in your area and to look at the asking price of similar properties for sale.
Be sure to consider:
- The location: in an urban or rural area
- The type of property: flat, terraced house, semi-detached or detached
- The total surface area
- The number of (finished) rooms: living areas, separate kitchens, bathrooms and showers, bedrooms, porches, etc.
- The age and condition of the property
- The level of finish (use of standard or more luxurious materials)
By looking at listings in your area, you can also calculate the price per square metre. Divide the selling price by the total area, then multiply the price per square metre by your property’s size in square metres to get an idea of its value.
You can get another indication of your home’s value on the FPS Economy site, where information on the average sale price of residential houses, villas and flats is provided.
Cadastral income (CI)
For more recent properties, the cadastral income (CI) can help you estimate the value of your home. The tax authorities estimate what the imputed rental value is for each property in Belgium. The cadastral income corresponds to the net amount you would expect to receive if you were to rent out the property for a year. This is calculated by making a comparison with similar homes in the area. It means that properties for sale that have roughly the same CI as your property should be in the same price range.
Important
In principle, this estimate should revised every 10 years, but in practice this has not happened for several decades now. Consequently, CI is only useful as an indicator for newly built houses or renovations where the CI has recently been revised.
Get a valuation in KBC Mobile
For a quick estimate, you can also use the additional ‘Value your property’ service in KBC Mobile. All you have to do is:
1. Log in to KBC Mobile and tap ‘Offer’
2. Scroll to ‘Home & energy’ and tap the ‘Value your property’ tile
Good to know
In certain cases, KBC will accept an external valuation of the property, as long as it is performed by an accredited valuer accepted by KBC.
For properties with a purchase price of less than 1 million euros, we accept estimates from valuers appearing on one of the following lists:
- Table of land surveyors drawn up by the Belgian Federal Public Service for the Economy
- List of accredited valuers drawn up by the Flemish tax office (VLABEL) (in Dutch)
- RICS-accredited valuers
- TEGoVA-accredited valuers (in French)
For properties with a purchase price of 1 million euros or more, it’s best to contact our Home Expert to find out which valuations we accept. Be sure to speak with our Home Expert to see whether an external valuation is required.
Realistic valuations
Determining the exact value of a property is a complex task, and supply and demand play an important role when selling a home.
If you decide to have a property valued, you should always apply some common sense when considering if the price is realistic or not. Compare with similar properties in your area, ask someone working in real estate, or even talk to your neighbours about it – they often know the house prices in the area.
Even expert valuations can vary widely, so you should never treat them as anything more than an indication of the real value.
