Floor, orientation and lift: what they are worth
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What do we mean by floor, orientation and lift?How much does the floor affect the price?How does orientation affect the price?How does the lift affect the price?Floor, orientation and lift: how do they add up?What should you check before making an offer?In practiceFrequently asked questionsSourcesFloor, orientation and lift can push a home's value up or down, but there is no fixed percentage that applies to every property. The right approach is to compare the property with similar ones in the same area, and to treat the floor as one factor, not the only one.
What do we mean by floor, orientation and lift?
The floor is the level of the flat in the building: ground floor, first, second and so on. The orientation is the direction the main windows face, for example south, north, east or west. The lift is the system that connects the entrance door to your floor.
These three elements appear in the listing and, with more detail, in the appraisal report (perizia) or the floor plan. Their weight on the price varies a lot from building to building, because it depends on the area and local demand.
How much does the floor affect the price?
In many cities a high floor with a lift is worth more than a low floor without one. The ground floor may be worth less for reasons of light, noise and security, but in some cases it is appreciated because it has a garden or direct access. There is no national rule: look at similar listings on the same street.
Invented example. Two identical 80-square-metre flats in the same building: - Ground floor without lift: €160,000. - Fourth floor with lift: €180,000. The difference of €20,000 is a constructed example to understand the mechanism, not market data.
To compare properly, use the OMI property values (quotazioni OMI) of the Italian Revenue Agency (Agenzia delle Entrate), published by the Real Estate Market Observatory (Osservatorio del Mercato Immobiliare, OMI). They give minimum and maximum values per square metre by zone and property type. They are indicative values, not market prices, but they tell you whether the asking price is in line with the zone's range.
How does orientation affect the price?
Orientation affects natural light, heat in summer and winter, and how quiet the home is. A south-facing home gets more sun, and for many buyers that is an advantage. A north-facing home can be cooler in summer, but darker.
Orientation matters most when the building has a narrow courtyard or faces a tall building: in that case light can be scarce even with the right orientation. Look at the home during the day and, if you can, go back at another time of day.
How does the lift affect the price?
The lift is an advantage mainly from the third floor up, and especially for people over sixty, young children or those with mobility problems. For a low floor the lift matters less, and its value depends on how old it is and how well it is maintained.
Check these points: - The lift complies with current regulations and has its maintenance logbook, which you should ask the building administrator (amministratore) for. - Extraordinary works to replace it are planned: if so, check the date of the resolution (delibera) in the minutes and make clear in the contract who pays between seller and buyer. - The cost of the lift falls under condominium expenses, divided according to millesimi (ownership shares).
Floor, orientation and lift: how do they add up?
They do not add up using a formula. The useful approach is this: start from the zone price, then check whether the floor, the orientation and the presence of a lift justify a difference upwards or downwards compared with similar properties.
Example. Average zone price for a similar home: €2,200 per square metre. 80-square-metre flat: €176,000. If it is on the fourth floor with a lift and is bright, it may be worth a little more; if it is on the ground floor on a noisy street, a little less. The exact figure cannot be set by you alone: you need to compare real listings and the appraisal report, if there is one.
If you are buying a property through a foreclosure procedure, the appraisal report (perizia) is the document that describes the floor, orientation and condition of the property. How to read it is explained in how to read an auction appraisal report, section by section.
What should you check before making an offer?
Before proposing a price, do these checks: - Compare the price with at least five similar listings in the same area. - Ask the administrator for the condominium's accounts and the state of the lift. - Check the cadastral floor plan: floor and surface area must match the actual state. - Look at the property at different times of day, to understand the light. - Consider the buyer's costs: taxes and notary fees affect the final cost.
If you are considering a standard purchase, start with the general steps: buying a home, all the steps from search to notarial deed. If the offer is already on the table, read purchase proposal: what you sign and what you risk.
In practice
- Compare the price with similar properties on the same street, not with generic averages.
- Use OMI property values as a zone reference, knowing they are indicative.
- Ask the administrator about the state of the lift and planned extraordinary expenses.
- Look at the home during the day to assess the real light.
- Calculate the total cost, not just the asking price.
Frequently asked questions
Is a ground floor always worth less?
Not always. It depends on the area, security, light and any garden. In some areas a ground-floor home with outdoor space is in high demand.
Can you buy a fourth floor without a lift?
Yes, but bear in mind that stairs weigh on everyday life. The price usually reflects this drawback, so compare it with other fourth-floor flats without a lift in the area.
Where can I find zone values?
The OMI property values of the Italian Revenue Agency give value bands by zone. They are a starting point, not a certain price.
Sources
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- Who chooses the notary, who pays for themAs a rule, the buyer chooses and pays the notary, that is, the fee and the taxes: how to read the quote.
- Buying a home: every step from search to the notarial deed (rogito)From the viewing to signing at the notary: the six steps to buy a home, with documents, sums to pay and checks before you sign.
- Preliminary contract (compromesso): what it is and what it must containThe preliminary contract (compromesso) is the agreement through which you commit to buying a home. I explain what it is, what it must contain and how much you risk if the sale falls through.
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- Pre-emption right: when it exists and how it worksPre-emption (prelazione) is the priority that gives you the right to buy first, at the same price and conditions: when it exists and how it works.
General information, not legal or tax advice: the law and the notice of sale prevail.
