Proper Market Value

In a quickly changing market, it’s extremely difficult in judging what the value of property is really worth. Especially in the current circumstances, it’s almost too common to find that buyers are getting ‘under quoted’ and sellers are being ‘over quoted’.

There is one way to really understand the true value of your home and it only involves 4 basic steps. Follow this rule and I can guarantee you an accurate and realistic price.

Use recent sales and compare the following features to your home;

  1.  Size – Compare between the internal size, as well as external size of your home (i.e. – block size)
  2. Age – This can be the age of the structure of the building and also the age of the internals fixtures (i.e. – age of the kitchen, bathroom, floors etc)
  3. Features – How many bedrooms, bathrooms, garage spaces, living rooms, entertaining areas etc.
  4. Location – Compare between other properties in similar areas (i.e. same postcode and proximity) Tip: select just a close radius around your home.

The Market won’t care what an agent thinks or what an owner wants – their price will come through comparing these 4 areas to your home. Of course clever marketing and expert negotiations will have a bearing on price however the purpose of this exercise is to find a ‘market price’. If you find you need some help with the research, that’s where we can help.

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