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The valuation of housing is an indispensable requirement to apply for a mortgage. But, exactly, what is it? It is a report that establishes the value of a property based on several factors, such as the location of the house, the area, its age, the state of conservation, the environment in which it is located, etc.


Banks use appraisal to verify that housing is a sufficient guarantee for the mortgage loan. Depending on its value, it will be able to lend you up to 80% for your purchase, if it is a first home. Thus, if the house is valued at €200,000, the bank can grant a mortgage of up to €160,000. In addition, the valuation is used as a basis for calculating the auction value of the house, in the case of award.

How do you make an appraisal?


The valuation consists of making an assessment of the house or the apartment according to a series of variables that serve to determine its value. This report must be made by an appraiser, who can be an architect, from a visit to the property. That visit serves, among other things, to:

Measure the surface of the house and its distribution. For example, a house with small rooms and a lot of hallways has less value than another house with a different layout.


Check the location and location of the house in the building. It is more appreciated if there is a park in front of the farm or if the apartment is located on the top floor because it has more light.


Monitor the state of conservation taking into account the year of construction of the house and the quality of the materials. A renovated house is valued more than an unreformed one.


Analyse external services: public transport, schools, medical services and supermarkets. A home increases its value if it has these services nearby. For example, homes located within a 500-meter radius of a school were 6% more expensive than those between 500 and 1,000 meters1.


In Spain there is a special profession for making a housing valuations (tasador in Spanish). Once he has visited, measured and photographed the interior of the house and the building, the appraiser prepares a report where he includes the details of similar homes in the area. The valuation of your house / apartment is compared with the information of the other properties to determine the value of the house according to the conditions and situation of the market. In addition, the appraiser has to check in the Property Registry that the house has no charges or does not comply with any urban planning rule.


The client chooses the appraiser and pays the appraisal

The appraisal is the only expense that the client has to pay when he asks for a mortgage from the bank, although, following the entry into force of the new mortgage law in June 2019, some banks also pay the valuation of the house if you sign the mortgage with them. The rest of the expenses of the mortgage deed (notary, registry, agency and IAJD) correspond to the bank.


And how much does it cost? The average valuation price ranges from €300 to €500. In addition, as a customer you can choose the appraiser, as long as it is approved by the Bank of Spain.


You should keep in mind that the value of the house changes over time. For this reason, the official validity of an appraisal is set at 6 months. Once this period has elapsed, another one must be requested if its purpose is to guarantee a mortgage operation.

I'm Spanish Adviser and you can ask me any question related to Spain. Our people speak 🇬🇧 🇺🇸 🇪🇸 🇩🇪 🇫🇷 🇺🇦 🇷🇺.

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