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Professionals Fremantle

Suite 16/27-35 William Street Fremantle

9432 2333

9433 4233

sales@professionalsfremantle.com.au

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What is Your Property Value?

11 Aug 2016 Fremantle 0 Comment

So you are thinking about your property value and you want to get inside the head of the valuer who will be coming to look over your home.

Here’s a few clues on what they will be doing at your property and how you can get an understanding of how they will come up with the value.

The key attributes they will look for include:

There are two main methods valuers use to value your property;

Direct comparison method

Summation method

Ten Tips to remember!

 

  1. Be objective – Don’t let your heart rule your head.
  2. Research – This is the cornerstone of understanding value, informed decisions pay off.
  3. Carry out a thorough inspection – Measure the home’s dimensions, turn on the taps and walk the boundary.
  4. Seek independent information – Seek actual information from local independent professionals and try to substantiate any information yourself.
  5. Location – If it’s on a train line or next to an arterial road, it will be trouble.
  6. Compare – Find comparables as similar as possible to the subject. These will be your beacon.
  7. Be a local – If everyone in the street has a certain style, make sure your property doesn’t buck the trend.
  8. Watch for over-capitalisation – Be honest about what additions such as swimming pools or tennis courts really add.
  9. Think land, dwelling, ancillaries – Breaking down the property into its parts can help you see the whole.
  10. Recent comparables – If you’re using sales from a year ago when the market was booming, you are relying on false evidence. Keep it current.

Hope this has helped you in your property journey.

As always if you have a property question please call me

Real Estate Agent Perth| 0431417345, peter@professionalsultimate.com.au

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