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Comparison of three properties

Property 1 · Property 2 · Property 3: three different risk profiles, side by side
Anonymised example. Three real properties from the Aalborg-area market. Addresses, names, schools and a few figures (asking price, area, year built, days on market, etc.) have been slightly changed to protect the properties' identity. The relative relationships, the ranking and all conclusions are preserved.
Overview

The three properties at a glance

Three properties, each teaching something different: one with missing documents, one cheap and solid with an overlooked legal advantage, and one where full documentation reveals real, costly items.

Property 1
The one where you have to sign before you know what you're buying
Cautiously positive, conditional
Type
Detached house
Year built
1996
Living area
226 m²
Plot
1940 m²
Asking price
2.890.000 kr.
Price/m²
12.788 kr.
Energy label
B
Documents
2/4
Overall score63/100
Property 2
The one whose name doesn't match what it actually is, in a good way
Cautious, leaning positive
Type
Detached house with condominium status
Year built
1893
Living area
110 m²
Plot
535 m²
Asking price
2.090.000 kr.
Price/m²
19.000 kr.
Energy label
D
Documents
5/5 (+ bylaws)
Overall score65/100
Property 3
The one where the full truth is the most expensive to read
Cautious, requires negotiation
Type
Detached house
Year built
1971
Living area
156 m²
Plot
1055 m²
Asking price
3.090.000 kr.
Price/m²
19.808 kr.
Energy label
D
Documents
4/4
Overall score57/100
The story behind each property

What the numbers alone don't tell you

Each property has its own story: one hidden in the small print, one hidden in a legal term, one hidden in a cluster of findings. Here they are, one by one.

Property 1

The one where you have to sign before you know what you're buying
The sales text sells »move-in ready« and »newer kitchen«. That's true: the photos show a bright, newly renovated kitchen and a main bathroom that looks like it was finished yesterday. But down in the small print on page 3 is what didn't make the headline: the condition report and the electrical installation report are »being prepared and must be available before the purchase agreement is signed«. In plain terms: the two documents that tell you whether the roof holds and whether the wiring is fire-safe don't exist yet. That isn't illegal. It's a legal intermediate stage in a sale, but it means a serious assessment of the house can only be filled in to 70%. On the plus side: both independent AI valuations come in ABOVE the asking price, and the price per square metre is the lowest of the three properties. If the reports come back clean, this is probably the best buy of the three. If they don't, it's the most expensive one to have said yes to too early.

Property 2

The one whose name doesn't match what it actually is, in a good way
The word »condominium« (ejerlejlighed) in the Land Registry usually scares buyers off. Most people associate it with shared façade bills, an owners' association that can vote against you, and a monthly fee that can rise without warning. Here the status is formally a condominium unit (the house shares a title/lot number with two neighbouring units), but the bylaws, which we actually obtained and read, show there are NO shared costs beyond water, heating and waste collection. No shared façade fund. No voting rights other owners can use against you on maintenance. It's effectively a free-standing house with a legal label that makes it look more expensive and more troublesome than it is. On the other hand, the house dates from 1893, and a house that has survived 130+ years with several owners and renovations has a building history no condition report can cover 100%. The low renovation reserve only covers what the inspection actually managed to see.

Property 3

The one where the full truth is the most expensive to read
It's tempting to think a house with ALL four reports in place is automatically the safest choice. Here the truth is more complicated: precisely because the documentation is complete, we know exactly where the expensive problems are, and there are two spots that are the costliest to leave standing. The condition report finds the same roof defect (worn roofing felt with too shallow a pitch) on BOTH the house itself and the free-standing garage annex: same year, same material, same weakness, two bills. The electrical installation report finds a cluster of 5 findings with fire risk, all concentrated around the bathroom's 12-volt lighting, a typical sign of one amateur installation, not scattered coincidences. The sales particulars talk about a »bright, newly renovated interior« and »new triple-glazed windows« (both true and genuine plus points), but naturally say nothing about either the roof or the electrical cluster. The listing was also taken off the market in June and relisted at the same price, with no explanation in the documents. The strongest argument for the house is, paradoxically, the same as its weakest: the full documentation gives the most reliable price assessment in the whole comparison (most comparable sales found), but the same documentation is also what will cost you most in negotiation.
Sales particulars vs. reality

»The agent says« and what we found

The sales particulars are the seller's story. Here it's held up against the documents and the actual photos, property by property.

Property 1

The agent says
We found
»Move-in ready house with room for the family«
2 of the 4 legally required technical reports (condition + electrical) don't exist yet at all, so »move-in ready« is a claim no report confirms.
»Newer kitchen + bathroom«
Confirmed by reviewing the photos: the main bathroom is new. But the OTHER bathroom on the top floor has visibly older tiles and countertop, not mentioned in the text.
Energy label B highlighted in the particulars
Confirmed by a visual check of the certificate's front page itself, not a discrepancy, as is often seen with this type of seller. One of the few points where the particulars hold up 100%.

Property 2

The agent says
We found
»Condominium« (ejerlejlighed) in the Land Registry extract and heading
The bylaws (§18) show NO shared costs beyond water/heating/waste collection, none of the typical owners'-association risk. The word scares more than the reality warrants.
»Charming, well-maintained older house«
Confirmed for the main floor by reviewing the photos. But the condition report found a water-heater valve with no drain to a floor drain: a classic, cheap-to-fix, but genuine safety defect not mentioned in the text.
Nothing about the age of the electrical installation
13 findings in the electrical report, 4 with fire risk, an entirely expected number for a house from the 1890's, but worth knowing before you sign.

Property 3

The agent says
We found
»Bright, newly renovated interior«
Confirmed by reviewing the photos: living room and kitchen look updated. But beneath the bright surface: 5 electrical findings with fire risk, all in the bathroom's 12V lighting, probably one and the same unprofessional installation.
Nothing about the roof in the sales text
The condition report finds worn roofing felt on BOTH the main house and the garage: the same defect, the same age, two separate bills that belong together.
The property appears as a fresh, active listing
In reality it was taken off the market in June and relisted at exactly the same price, with no explanation in the documents. A question worth asking the agent directly.
Key figures

The figures compared

Key figureProperty 1Property 2Property 3
TypeDetached houseDetached house with condominium statusDetached house
Year built199618931971
Living area226 m²110 m²156 m²
Additional area+ double garage with electric doors2 storeys+63 basement, +25 garage, +23 covered terrace
Plot1940 m²535 m²1055 m²
Asking price2.890.000 kr.2.090.000 kr.3.090.000 kr.
Price per m²12.788 kr.19.000 kr.19.808 kr.
Energy labelBDD
Owner expenses/month1.650 kr.1.280 kr.2.790 kr.
Energy/month (actual)2.067 kr.1.450 kr.3.250 kr.
Full housing cost/month3.717 kr.2.730 kr.6.040 kr.
Days on market37 days49 days79 days (delisted/relisted)
Document package2/45/5 (+ bylaws)4/4
Condition report: RED findingsN/A22
Electrical installation: findings (of which fire risk)N/A13 (4)12 (5)
Economics

What do they cost over 5 years?

Total cost of ownership = asking price + 60 months of full housing cost (owner expenses + actual energy) + a mid-range estimated renovation reserve. This shows the real price of living there, not just the price tag.

Property 2
2,30 mio. kr.
Property 1
3,11 mio. kr.*
Property 3
3,68 mio. kr.
* Property 1 is shown without a renovation reserve. It can only be factored in once the condition report is available, so Property 1's real 5-year figure can only rise from here.
How to read the scorecard

What do the numbers mean, and what does it take to move them?

Each axis runs from 0 to 100, where 100 is best. The scale is anchored so it's clear what, say, 100 requires, not an abstract grading system. The number in parentheses is the axis's weight in the overall score.

Price
How much property do you get for the money vs. the market?
Weight 25%
100Asking price clearly BELOW market value (AI valuation/comparable sales), a steal
50Price exactly at market level
0Significantly overpriced with no justification
Condition
The building's physical condition per the condition report
Weight 20%
100No critical findings (no RED), few/no YELLOW
50Some RED findings, but limited and cheap to fix
0Extensive, costly damage
N/ACondition report doesn't exist yet: cannot be assessed
Electrical
The electrical installation's safety per the electrical installation report
Weight 10%
100No findings, no fire or shock risk
50Several findings, a few with shock risk
0Cluster of fire-risk findings
N/AElectrical installation report doesn't exist yet: cannot be assessed
Area & school
Location, school district and everyday life
Weight 15%
100Strong school district, quiet green surroundings, short distance to town
50Average district and location
0Weak district or burdened surroundings (noise, pollution)
Liquidity
How easily the house can be resold
Weight 10%
100Fresh market, short time on market, many buyers
50Neutral: normal time on market with no price-history flags
0Very long time on market, repeated delistings or price drops
Renovation risk
Expected repair burden over the coming years (HIGH score = LOW risk)
Weight 10%
100No known major item: a small reserve is enough
50Moderate reserve needed
0Large, costly item ahead (roof, electrical cluster, etc.)
Seller's documents
Is the document package complete and internally consistent?
Weight 10%
100All four legally required reports present and without contradiction
50Package with one unresolved discrepancy (e.g. energy label)
0Key reports missing entirely

Score for each property

Under each number is the short reason. Where a report doesn't exist yet (Property 1), it says N/A. We don't guess a number.

Property 1

Overall 63/100
Price72
Both AI valuations above the asking price, clearly the lowest kr/m²
ConditionN/A
The report doesn't exist yet
ElectricalN/A
The report doesn't exist yet
Area & school78
Quiet, green village setting, ~20 min to town, district with small classes
Liquidity55
37 days on the market with no price drop, neutral
Renovation risk45
Reserve cannot be set without the condition report, treated as elevated uncertainty
Seller's documents45
2 of 4 legally required reports are missing (a legal phase, but a real risk for the decision now)
≈63 on the 70% that CAN be assessed. The remaining 30% (Condition + Electrical) is unknown until the two reports are available.

Property 2

Overall 65/100
Price60
Slightly above the area's level, but soft
Condition60
2 RED, but limited (water-heater valve, grout in shower niche)
Electrical48
13 findings, 4 with fire risk, expected in a house from the 1890's
Area & school64
Central neighbourhood, mixed parent reviews of the district school
Liquidity70
Stable process, 49 days with no delistings
Renovation risk78
No large item like a roof, lowest reserve in the comparison
Seller's documents95
All four reports + the owners' association bylaws present
A complete document package and the lowest cost of ownership pull the score up; the high figure on Renovation risk (low expected expense) is decisive.

Property 3

Overall 57/100
Price54
Slightly above comparable sales; but the largest total area
Condition60
2 RED: same leaking roof on house + garage; shower tile
Electrical42
12 findings, 5 with fire and 5 with shock risk, the densest cluster of the three
Area & school62
Nice area, but the district school's figures are below the national average
Liquidity52
79 days, delisted and relisted at the same price
Renovation risk40
The most expensive item of the three: roof (house + garage) + electrical
Seller's documents90
All four reports present
Complete documentation and a large area pull the score up; the fire-risk electrical cluster and the most expensive renovation pull it down.
See what others miss

The hidden advantage and the hidden disadvantage

The most important thing about each property is rarely what's written in the ad. Here is the one thing that surprises positively, and the one that surprises negatively, for each property.

Property 1: The one where you have to sign before you know what you're buying
Hidden advantage

Both independent AI valuations (AVMs) come in ABOVE the asking price, and the price per m² is clearly the lowest of the three: on paper the strongest buy. This is surprising, because 'missing reports' makes most people assume it's the weakest property of the three.

Hidden disadvantage

You effectively have to make the decision blind. An ordinary buyer won't realise that 'move-in ready' + 'reports being prepared' in practice means the most important safety documents (condition + electrical) don't exist yet at all, and that 30% of a serious assessment therefore can't be done.

Property 2: The one whose name doesn't match what it actually is, in a good way
Hidden advantage

Despite the 'condominium' (ejerlejlighed) designation, the house has NO shared owners'-association costs beyond water/heating/waste collection. The special status gives it its character and low price, without the ongoing owners'-association costs and risks a buyer would normally associate with the word 'condominium'.

Hidden disadvantage

The oldest house in the comparison. Findings outside the sample-based inspection are statistically likely, and a possible conservation rating (SAVE, the Danish building-preservation register) can restrict what you're allowed to change on the exterior. The low renovation reserve only covers what the report managed to see.

Property 3: The one where the full truth is the most expensive to read
Hidden advantage

The newest triple-glazed windows and doors in the whole house, the largest total area (basement, garage, covered terrace), AND the most comparable sales, so the price is the most reliable to assess of the three. An unexpected strength in the property that otherwise looks the most expensive and most problematic.

Hidden disadvantage

The SAME leaking roof recurs on both the house and the garage (one fault, two places), and there's a cluster of fire-risk electrical findings in the bathroom. The two most expensive and most safety-critical items in the whole comparison sit in the same house.

Conclusion

Overall ranking

1
Best overall

Property 2: The one whose name doesn't match what it actually is, in a good way

Lowest total cost of ownership over 5 years and a complete, consistent document package. The special ownership status gives it character without ongoing owners'-association costs. Downside: the oldest house. Hidden findings outside the sample are likely.

2
Middle

Property 1: The one where you have to sign before you know what you're buying

Best price per m² and both AI valuations above the asking price: on paper the strongest buy. But 30% of the assessment (condition + electrical) can't be done at all yet, because two legally required reports are missing. A conditional decision, not a finished one.

3
Most caution needed

Property 3: The one where the full truth is the most expensive to read

Highest total cost of ownership over 5 years and the densest cluster of fire-risk electrical findings. In return you get the most house for the money (basement, garage, covered terrace) and the most reliable price assessment thanks to the most comparable sales.

Want to see a full report, not just a comparison?

This page shows the three properties side by side. A full BoligCheck report goes in-depth on one house at a time: condition, electrics, finances, negotiation points and a complete checklist, page by page.

See a full example report →