There comes a time in every homeowner’s mind that they would like to know how much their house is worth in the current market. There are a couple of ways to find this out and here are our key things to look out for.
1. What has sold around you
A great indicator of what your house is worth is to research on what has sold around you. Be sure to find houses that are similar to yours. How many bedrooms did it have? How many bathrooms? How many living areas? How many cars could park at the property? What was the size of the block of land the house was built on?
It is crucial to ask these questions if you want to get an accurate idea on finding similar properties.
2. When did it sell
The next thing to look out for is how long ago the similar property sold.
When it comes to finding the true value of a property you must find something that was sold recently. Within the last six to twelve months is generally a good indication of current market value but within three months is best.
Most property search engines have a filter that will help you to find the most recent properties sold and you can filter out the properties that aren’t relevant to your search.
3. What was similar to my home
The next thing to look out for is how similar the build quality or method was to your current house. For example, was the house built with brick or weatherboard, etc? Was it double storey? Was it built on piers, stilts, or a slab? Was the block sloping or flat? Was the floorplan or layout of the home similar to your house? How long ago was the house built? These are all very important questions to answer when finding a true value.
4. Ask your agent
If you don’t feel like doing all this research, it’s time to reach out to your agent so they can do this work for you!
In fact, a real estate agent will have a better handle on what a property is worth seeing as they are in the market every day, dealing with buyers who are ready to buy now, and what is coming to market, and what has recently sold.
If you need any advice regarding the above please contact us at https://www.blackpropertycc.com.au/contact/