Sometimes an apartment is just ‘too perfect’.

The value of an apartment is determined by many factors (its condition; its layout; the house and the neighbourhood in which it is located; its legal status; its orientation, etc…), but the most important of these is its location. The value of a property will be determined primarily by where it is located. There are districts in Budapest that are so expensive that living there is a luxury in itself (such as the 5th, 2nd and 12th districts). Buyers expect luxury quality in the design of the apartments here. However, when thinking about investing in real estate, we have to bear in mind that luxury design will not be meaningful in all areas. A private bathroom for each bedroom, a walk-in wardrobe, a utility room, a multi-level heating system are all luxuries that buyers in some districts cannot afford.

If the design of your investment property is not adapted to the needs of the area, you could easily find yourself in a situation where your property is ‘too perfect’. We spend too much on building things that don’t pay off in the end. Moreover, a buyer looking for a home in the area may not be able to identify with the home, so it may not even find a buyer at a ‘good’ price. Of course, the same is true the other way round: in prestigious districts, you can’t put a 3-bedroom apartment with a single bathroom on the market.

So before you think about renovating your property to sell it at a higher price, it’s always worth consulting a professional to make sure you get a return on your investment. It is important to create a dwelling that meets the needs of the market. It all starts with the floor plan! The floor plan starts with the target group. Read my post on target group dilemmas.