prompter: What are the main factors that contribute to a real estate property's value?

assistant: The main factors that contribute to the value of a real estate property value may vary somewhat from location to location based on factors such as culture. Additionally, the effect of each factor may vary over time. Some of the most significant factors include:

1. Location. One of the largest factors is location. The value of a given location will be impacted by many variables such as employment opportunities, local resources such as shopping centers or schools, crime rates, etc.

2. The size of the home. This is commonly measured in square footage. The price per square foot can vary widely between locations.

3. The condition of the home. The age of the home, as well as any damage that has accrued, will typically decrease the property value. A home that is well maintained may limit this decrease in value.

4. External factors such as the state of the economy, interest rates, and the local housing market.

A property's value can be estimated using neighborhood comparables, or "comps". That is, finding a property with similar characteristics, such as those listed above, that has been sold recently. The sale price of a recently sold property that is extremely similar to the property of interest will be a strong indicator of the property value. The more similar the property, and the more recently the property was sold, the better the indication will be.

prompter: I don't see any factor regarding the energy efficiency and insolation of the house, is it irrelevant to the price?

assistant: The value of a real estate property is determined by a variety of factors, including:

1. Location: Properties located in desirable neighborhoods, close to amenities such as schools, shopping, and transportation, tend to have higher values.

2. Size and layout: Properties with larger square footage and a well-designed layout tend to have higher values.

3. Age and condition: Properties that are well-maintained and updated are typically worth more than those that are older and in need of repairs.

4. Economic factors: The local economy, job market, and housing demand can all have an impact on property values.

5. Amenities and features: Properties with desirable amenities, such as a pool, garage, or updated kitchen, are typically worth more than those without these features.

6. Zoning regulations: Zoning regulations and building codes can affect the potential use and development of a property, and therefore, its value.

7. Market conditions: The overall real estate market, including supply and demand, can have a significant impact on property values.

8. Environmental factors: Properties located near sources of pollution, such as a landfill or a factory, tend to have lower values.

These are some of the main factors that contribute to a real estate property's value, but it's important to keep in mind that the relative importance of each factor can vary depending on the specific property and market.

prompter: Is there something that I, as a home owner, can do to increase the value of my property? I'm specifically asking for things that I can do that will make selling the property afterwards more profitable.

assistant: Yes, there are several things you can do as a homeowner to increase the value of your property and make it more profitable to sell in the future. Here are a few suggestions:

1. Keep the property well-maintained and in good condition. This can include regular cleaning, repairs, and upkeep to ensure that the property looks and functions its best.

2. Make upgrades and renovations that add value to the property. This might include adding energy-efficient features, updating the kitchen or bathrooms, or improving the landscaping.

3. Consider adding additional living space, such as finishing a basement or adding an extra bedroom or bathroom.

4. Improve curb appeal by enhancing the appearance of the property's exterior. This could involve things like landscaping, repainting the exterior, or adding new siding or roofing.

5. Stay informed about market trends and make strategic improvements that will appeal to buyers in your area.

Remember, any improvements you make to your property should be well-planned and executed, as well as appropriate for your budget and the local market.

prompter: How can I best stay informed about market trends?

assistant: 1) Carrying out renovations is one of the most effective ways to increase the value of an real estate property before selling. Refreshing the appearance by carrying out renovations can increase the interest of potential buyers and enable you to get a higher price. When renovating, it is important to focus on those elements that affect the aesthetics and functionality. It is worth paying attention to the condition of the walls, floors, ceilings, windows, doors, as well as the condition of the electrical, heating or sanitary system.

2)Increasing the security of the property is another effective way to increase its value before selling. Nowadays, security is one of the most important aspects that potential buyers pay attention to. 

3)Today most people look for real estate ads via the Internet, so the first impression will be most important. Be sure to take photos professionally. This way they will be able to increase the interest of potential buyers and attract them to the presentation.

4)New floors, such as laminate or floorboards, can enhance the aesthetics of the interior and give it a modern feel. In addition, new floors are usually easier to clean and are more durable than old floors, which is important for potential buyers.

If you intend to carry out a renovation before selling the property, analyze whether the cost of the renovation will not exceed the potential increase in the price of the property. You can also contact professional real estate agents which can help you in getting best price.

assistant: The most straightforward way to increase the value of the real estate is to perform a renovation. The latter may differ in the scope and complexity from a major overhaul, including building materials, pipes, and electric wiring replacement, to a simple repainting or redecoration. The condition of the surrounding area makes a difference too - as such, try to make the backyard look like a place that human wants to spend more time in. In particular, the place should be clean and, ideally, host green vegetation. 

Another advice would be to keep the offer advertisement for a longer period of time, as it increases the chance of a customer with a higher bid to emerge.