The debate about apartment values can go around and around using all the rational and not so rational arguments comparing one apartment to the next and dissecting all the variations like, floor plan, design, aspect, size, location, finishes, features, etc. It is always interesting how people weight each attribute differently to arrive at a value. ie. the value to them – not the general market.
Even when an apartment does sell (so hence the true value is revealed) the discussion continues about how the sale price was too high or too low, and how they should have bought it, or someone else should have bought it. (human nature is a funny thing).
So how do you know what your apartment is worth?
You can search sold properties of certain criteria and see exactly what price they sold for. But unless you know all the detail about that apartment and especially the things not on a web site, (like the quality of the views, the true size of rooms, overlooking, etc.) you only have part of the story.
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You must take the time (like a potential buyer does) and inspect other apartments being offered for sale to understand what features the market values and what it doesn’t, and then compare that to your apartment. Keep a record of the details and sale prices to build a basket of sales evidence over a period of time.
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