How much can I sell my house for? Keys to setting the ideal price

Factors that influence the selling price of your home

The price of a property depends on many factors that should be taken into account, as they can either increase or decrease its value. Below are the most important elements that determine your home’s price:

Location

The location of your property is one of the most critical factors. A home in central Madrid or on the beachfront is highly desirable, which increases its attractiveness and value. It may even appeal to international buyers. In addition to location, consider the following:

• Access to public transport.

• Proximity to public services like schools and hospitals.

• Presence of shops and supermarkets.

• Safety of the neighborhood.

• Popularity of the area.

These are the types of features potential buyers evaluate and value before making a purchase.

Size and layout

The structural features of your home also matter. Usable and built square meters are important to buyers, but even more important is how the space is laid out. Consider questions such as:

• Are the spaces well utilized?

• Are the bedrooms outward-facing with natural light?

• Are the hallways too wide, reducing usable living space?

Condition and renovations

A home that needs renovation will be worth less than one with modern improvements. Buyers typically look at:

• The external condition of the building.

• Whether the kitchen and bathrooms have been updated.

• The energy efficiency: type of windows, insulation, heating systems, etc.

• If it’s an apartment, they’ll also check if there are any planned or ongoing special assessments.

Working with a real estate agent can help you assess the condition of your property and whether any improvements are advisable. Contact us for a free property valuation.

Extra features

If your property includes certain extras, this can boost its value and make it more attractive to buyers. Some of these features include:

• A terrace or balcony, and the number of square meters.

• An elevator, especially in taller buildings.

• Possibility of a garage, storage room, or attic.

• A private or shared swimming pool.

• A garden or green spaces.

• Communal areas (if part of a residential complex).

• Attractive views of the city center, beach, or mountains.

Market demand

Not all housing markets behave the same. If your property is in a high-demand area with limited supply, its value will rise. On the other hand, if demand is low and supply is high, your home’s value will decrease.

Understanding how the real estate market behaves is essential for selling your home easily. Our annual report gathers the latest market trends and helps you understand what could cause your home’s value to rise or fall. Evaluating these factors is the first step in determining how much you can ask for your property.

Methods to calculate how much you can ask for your property

As you can see, many factors determine the price of a home. Before taking action, we recommend choosing one of the following methods to calculate how much you can ask for your house:

Online valuation

Some real estate websites offer free valuation tools where you can get an estimated value for your home. All you need to do is enter your address and a few details about the property. The simulator will give you a price range, which can often differ significantly from reality due to its general nature.

Professional appraisal 

There are certified appraisers who specialize in determining the exact value of your home. The appraiser will visit your property, take measurements, photograph the space, assess the finishes, and provide a detailed report. The cost of this appraisal typically ranges from €200 to €400, depending on the location and size of the home.

Comparison with similar properties

Another method for estimating your home’s value is to compare it with similar properties in the same area — that is, homes with the same square footage, number of rooms, etc. However, since it’s only a comparison, you won’t get an exact value, but rather an estimated range.

Work with a real estate agent

A qualified expert can conduct a valuation of your home and advise you on how to increase its value and set a price that fits the current real estate market. At Engel & Völkers, we offer a free valuation of your property and support you throughout the entire sales process.

Tips for selling your house for a higher price

If you're planning to sell your property and want to get the best possible return, there are several strategies that can help increase its value.

Home staging

One of the most popular real estate techniques in recent years is home staging. This method helps reduce the time it takes to sell by visually enhancing the appeal of the home. It involves decorating your house in a neutral style to attract as many potential buyers as possible. The key principles include:

• Depersonalizing: remove all personal items.

• Decluttering and organizing: fewer pieces of furniture make a better impression.

• Creating a cozy atmosphere: use accents like a blanket on the sofa or a vase of flowers on the dining table.

• Using neutral colors: go for simple shades like white, light gray, or beige.

These details help potential buyers imagine themselves living in the space, which speeds up the sales process.

At Engel & Völkers, we work with real estate agents who specialize in home staging and can advise you to help sell your home faster and for a better price. Contact us today and enjoy the luxury of selling your property without stress.

Minor repairs

Making small improvements in the home — even if they seem insignificant — can make a big difference and leave a great first impression:

• Fix leaky faucets.

• Replace broken tiles.

• Tighten or replace loose light switches.

Paint and refresh

When selling your home, it’s easier if the space feels clean and well-maintained. Painting the walls and refreshing the color scheme helps create that impression. You can also take the opportunity to update door handles, faucets, or lighting fixtures with more modern options.

Lighting and finishing touches

Natural light is one of the features most sought after by buyers. Take full advantage of it before showings by opening blinds and curtains. If your home doesn’t get much natural light, you can use floor lamps in strategic areas to create a brighter atmosphere.

Professional photography

If you’re using a real estate portal to attract potential buyers, you’ll need high-quality photos. These are the first things buyers will see, and within seconds, they’ll decide whether to consider your home or keep looking.

These actions can help you if you're wondering how much to ask for your home — and how to justify that price.

Common mistakes when setting the selling price of your home

Setting the right price for your home is crucial — it can either lead to a quick sale or result in months without any interest. Here are some of the most common mistakes to avoid when pricing your property:

• Overpricing the property: Sometimes, we let emotions take over, when in reality, it’s objective data that catches buyers’ attention. An inflated price will make your home less competitive in the market.

• Ignoring market trends: It’s essential to understand how the real estate market behaves in your area so you can adjust accordingly. Not being aware of supply and demand can lead to setting a price that’s too high.

• Overlooking the costs associated with selling: If you don’t account for expenses such as capital gains tax or income tax, you might end up with a lower profit than expected.

• Not adjusting the price: If your home isn’t attracting interest and you don’t revise the price, it may become less appealing over time.

• Hiding relevant information: Buyers might walk away from the purchase if they later discover important details that weren’t disclosed upfront.

So, how much can I sell my house for?

As you’ve seen, determining the right price for your home requires analyzing several factors and having a good understanding of the market.

At Engel & Völkers, we know the real estate sector inside and out, and we’re here to help you get the most out of your property. Want to know the true value of your home? Contact our team and we’ll provide a free property valuation.