Do you know the value of your property? Despite owning the home, not many homeowners and landowners can actually answer this question accurately. With this in mind, there are some tools that you can use to estimate your property value.
First and foremost, there’s a website for everything these days and estimating the value of your property is no different. You’ll find all sorts of free tools online, and all you need to do to get started is enter some basic details. With the very best, you’ll receive statistics on the suburb, data on the area, and an overall assessment of the property.
These days, this is probably the quickest and most effective way of obtaining an estimated property value. An online tool will consider recent sales in the area, the condition of your property, features and property type, distance to amenities, and more.
Estate Agent Websites
For those who want to do the work themselves, you’ll get a good idea of what your property is worth by looking at current listings and recent sales in the area. What houses are currently for sale? In a perfect world, your neighbour will also have their home up for sale, and the two houses will be essentially the same. Of course, this isn’t a perfect world, and you’ll need to do a little more digging.
Look at listings in the area alongside recent sales not only on your street but within around one kilometre. With the ever-changing market that we have these days, it’s best to stick within a few months. While you might get excited over a high-priced sale from 2004, this doesn’t help to estimate your property value in any way.
When comparing properties, pay attention to the most important features. The most impactful price determinants include property condition, dimensions, location, exterior, and interior.
For many years, banks across Australia have relied on the APM PriceFinder tool when coming to a valuation for a property. This tool was developed by Domain, and it has fantastic tools available for homeowners too. Currently, the website has information on over 13 million Australian properties, and yours just might be available too.
In truth, this is one of the best resources around because this is the exact information used by banks. If your house isn’t listed, you can still use Domain and the APM PriceFinder to check similar properties and ones in which you have an interest.
Much like Domain, OnTheHouse is another that Australians have grown to love and incorporate into their moving resources. One of the best features of this tool is that it’s available for both iOS and Android through an app. With around 12 million properties, it’s a similar size to Domain.
If you choose OnTheHouse, you’ll benefit from the neighbourhood and suburb trends created by the OnTheHouse team. Soon enough, you’ll learn all about your local market because of the people buying and selling at any one time.
For those who have time on their side, you can even sign up for a monthly alert. Every month, you’ll receive a report showing the performance of your suburb – you’ll learn about rental properties and those for sale within a specific distance from your home.
If you want to estimate your property value, you can either take advantage of the many great estimator tools or you can perform the research yourself to find out your properties worth with Local Agent Finders property value estimate tool. Either way, you aren’t alone in this journey.