How to Compare Properties
04/07/2021
Investing in a property represents one of the strongest economic commitments that we have in our lives and even so, many people allow themselves to be carried away by a first impression or a recommendation from a third party, without carrying out a detailed and objective analysis.
Even for the purchase of a car, we usually take that mechanic friend to help us in the comparison and verification of the vehicles that interested us. However, we do not do it during the process of buying a property where there is much more money and responsibility at stake.
Here we will indicate the basic points to take into account when comparing the properties that you liked so that you can make an objective evaluation when selecting the one that suits your wishes and needs. We will also leave you a link to our exclusive online comparison tool to help you decide.
In order that the comparison can be adjusted to all users, we start from the base that you already have a filter (shortlist) of properties that interested you and adjusted to your budget, search area and configuration of the property.
Now, within those finalists, how do you choose the best one?
This is where we will help you!
You can directly access our online comparison tool or continue reading. Take your time to analyze in detail, remember that you are facing a decision that will affect your quality of life and your economy from now on.
We think of you!
Our analysis focuses not only on the technical aspects of the properties you are comparing, but on yourself, analyzing your lifestyle, your routine and your desires, in short, your priorities!
Let's get started!
# 1: Take your routine into account
Do you work from home or do you need to get to work? If you mobilize, how do you do it? Can you go by car or do you depend on public transport? If you work at home, pay attention that there are no activities or industries in the area that generate annoying noise so that you can stay productive and without distractions.
Do you do sports outdoors or do you prefer to subscribe to a gym to stay in shape? If you like outdoor activities, it will be convenient to have a nearby park so that you can easily access it and enjoy your activities.
Do you like to go out frequently or do you enjoy staying home? If you like to go out, it will surely be very practical for you to have cultural activities and gastronomic options in the area and thus gain comfort and avoid travel time and expenses.
# 2: Think beyond yourself
Do you live alone or with your family? Do they have school-age children? In this case, it would be practical for you to have schools in the area.
Maybe your wife works too? Wouldn't it be fair for both of you to be close to work? If she is part of the purchase decision, this is also when our online comparison tool will help you define yourself, providing objectivity in making the decision.
Do you live as parents, grandparents, or people with reduced mobility? Bear in mind in this case that having slopes or stairs can become a permanent physical challenge and value the breadth of access halls or the presence of elevators.
If you value a sense of community and like to interact with your neighbors, see if the community around the property has values similar to yours. Take into account the average age of the area, lifestyles, religious rituals, etc.
# 3: Take your wishes into account
Why not ?! After all, you have saved your whole life and it would be good if your future home covers not only the basic need for family protection but also allows you to enjoy being in it. For example, if you like to enjoy fresh air and the climate permits it in your area, you may want your property to have a balcony. Now, if several of the properties that you preselected have a balcony, you can read more in how to compare balconies here
Also take into account the orientation of the property with respect to the sun. This point also depends a lot on the geographical location and its climatic characteristics and that is why you can find more information on our blog about brightness.
If you have a vehicle, you will value the convenience of having a garage on the property, whether it is a house or an apartment. For the garage theme, we have also put together a special blog to help you analyze the different types in detail, since for example accessibility can sometimes be a nightmare. Read our article on how to compare garages here.
In the case of buildings and houses in gated communities, analyze the available amenities. If you like to have a gym, pool, zoom accessible at all times, nothing better than having them close to your unit. Even if you like to organize meetings with family and friends, having good amenities makes up for the space that you may lack within your unit to receive such a crowd.
# 4: The property itself.
Let's start with the outside. Whether it's a house or a building, look at the exterior style. Styles change and entire neighborhoods also change, absorbing new colors and styles and many times we see properties that, from the outside, disengage with their surroundings. This is a broad topic and closely related to the history of architecture and that is why we have developed an article on how to compare exterior styles of houses here.
Apart from the style, check the general exterior condition. Observe the condition of the coatings, the paint, see if there are visible cracks, which can lead to water seepage inside. Look at the cover, check the exterior visual condition and ask about its useful life.
Once inside, observe the general condition and take note, or use our online comparison tool directly from your mobile device.
Analyze if the size of the property will adapt to your way of life and needs or if it will be able to house the furniture that you may already have and want to reuse.
What type of windows does the unit have? The type of windows can influence from the point of view of comfort through their coefficient of thermal insulation as well as their acoustic insulation properties, which can influence your valuable rest. The quality of the windfalls is also important at the safety level, especially in tropical areas exposed to hurricane-force winds.
Is the kitchen integrated into the living room or is it separate? Certain people prefer isolation to prevent odors from spreading throughout the rest of the house, however, today's families favor a built-in kitchen, since naturally there is a tendency for people to congregate around the kitchen.
What kind of facilities does the property have? For example: do you have an individual boiler for heating and hot water? If it is a building maybe it is a central provision? Is the air conditioning system central or individual? If you have heating, is it generated by electricity or natural gas? The different variants can affect not only your comfort level but also your economy when it comes time to pay the bills.
# 5: Physical technical inspection
There are companies that are dedicated to the complete technical inspection of properties. This service has a cost that is not less, so, if you need it, we recommend that you hire it only for the property you selected to complete the operation.
This report contains a complete report on the condition of the property, from the exterior condition to the condition of the structure and the facilities of the property. If the report indicates the need for repairs or replacement of equipment, the detail of the costs involved is also indicated, which can help you to continue with the operation but at the same time negotiate the final purchase price.
If you are interested in this service, you will soon be able to access companies in your area by click here.
We hope this article has been useful to you. Leave us your comments or queries and in the meantime we will continue to add our experience in architecture and real estate to our blogs.
Be sure to try our online comparison tool today!
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