Everyone loves to speculate about what their home is worth, but even two similar-sized properties on the same street can have very different values.
Professional valuers use set criteria to arrive at an accurate figure, and look at the strengths and drawbacks of a property.
This process matters. Whether you’re looking to sell or simply understand how much equity you have, a professional valuation provides an unbiased view of your property’s true worth. It can also help set realistic expectations before you list your place.
What Home Valuers Consider
- Location. Homes that are closer to schools, shops, and public transport often command a premium.
- Size and layout. Larger blocks, bigger homes and practical floor plans add value.
- Views and orientation. Natural light, outlook and privacy all make a difference.
- Condition. Well-maintained properties with modern bathrooms and kitchens are worth more.
Two homes with the same number of bedrooms can vary in value depending on their finishes, layout and even the side of the street they are on.
Value-Droppers
Your home may be less than you think if:
There’s a lack of street appeal and people would drive past without being impressed.
Your pool or deck aren’t compliant and it would take money to get them up to code.
The decor is outdated and the buyer will have to paint and replace a lot of fixtures and fittings.
There is a lot of new home development where you live, and this will change the feel of the neighbourhood.
There is a surplus of other homes for sale in the area, and they are in better condition than yours.
Ultimately, a valuation is a snapshot of what your property is worth in today’s market. Having your place valued it’s a smart way to decide whether to sell now, renovate, or borrow to invest.
Want to know what your property is really worth? Contact your local Professionals office today and start with a free property appraisal.
