Working from home, reduced working hours, childcare - many people are spending more time at home due to the coronavirus crisis. But at some point, every series on Netflix has been watched. Why don't you use this time wisely and check the living space calculation for your property?
It's hard to believe, but around 90 per cent of living space information for existing properties is incorrect. They are often based on outdated building applications or rental contract details that were not calculated according to standardised calculation regulations. This can have serious consequences, especially in the event of a sale.
Private sellers are liable for incorrect floor space information. If the floor space details do not correspond to reality, there is a risk of claims for damages. Buyers could not only demand a reduction in the purchase price, but also the reimbursement of additional costs such as notary fees or taxes on the originally higher purchase price. Even a contractually agreed exclusion of liability clause does not provide protection if the incorrect living space is deemed to be part of the contract.
Calculating living space: what you need to look out for
The calculation of living space is complex and depends on many factors. Different standards apply, for example, to
- Doors and window frames
- Slopes and room heights
- Stairs, built-in furniture and ovens
- Terraces, balconies and conservatories
- Cellars, garages and boiler rooms
Depending on use and condition, deductions of up to 100 per cent of the floor area apply. Correct calculation requires experience and expertise.
Why you should rely on a professional
A professional estate agent knows the legal requirements and ensures that the living space details are accurate. He assumes the risk and thus protects property sellers from possible claims for damages. With a professional calculation, you can complete your property sale safely and worry-free.
Do you have any questions about calculating living space? Please contact us! We will be happy to help you.
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