How can I value my single family home?

Here, the market value is derived on the basis of the production costs for the structural facilities and the land value. The land value is determined with the aid of the comparative value procedure (§§ 15-16 ImmoWertV), i.e. either by means of comparative prices of sufficiently matching comparative properties (§ 15 (1) sentence 2 ImmoWertV) or by using standard land values (§ 16 (1) sentence 2 ImmoWertV).

In the second step, the real building value is determined with the help of normal production costs (NHK 2000 or NHK 2010), which are subdivided into different equipment classes and building types. The values, which are uniform throughout Germany, should be adjusted according to the federal state, the size of the locality and the development of building costs in order to arrive at a value that is appropriate for the valuation object. In addition, there may be components that are not covered by the NHK, e.g. outdoor facilities, fixtures and garages.

Finally, an assessment is made as to whether the market accepts the determined provisional asset value as it is or whether a sometimes considerable adjustment to the market must be made by means of surcharges or discounts.

Reasons for surcharges could be, for example, a particularly attractive architecture or an above-average demand for interior fittings. Reasons for reductions could be, for example, a floor plan layout that is not in great demand or furnishings that are not in keeping with contemporary taste.

Expert committees often provide average property value factors as a guide, although each property should be assessed individually on the basis of excellent knowledge of the market.