When it comes time to sell your home or investment property, understanding its value is a crucial first step. There are plenty of tools and reports available to give you a rough idea of price, but for a truly accurate understanding, it pays to dig a little deeper.
Online tools like automated valuation websites can give you a general price range based on recent sales data. These can be a useful starting point, but they’re not always able to take into account the unique features of your property.
You can also access basic Comparable Market Analysis (CMA) reports that show recent sales in your area—another helpful piece of the puzzle. Some homeowners even choose to get a formal bank valuation done, though these are often conservative and based largely on those same CMA reports.
Your council rates may also include a Capital Value (CV), but this is generally based on the last official valuation and may not reflect current market conditions, recent renovations, or changes in the area.
The best and most accurate way to find out what your property is worth? Invite a trusted local real estate agent in for an appraisal. Agents are across what buyers are currently looking for and will assess your home based on current demand and real-time market conditions.
During an appraisal, agents will consider a wide range of factors, including:
- The suburb and street location
- Land size and layout
- Size of the home (bedrooms, bathrooms, living areas)
- Kitchen and bathroom updates
- Garaging and off-street parking
- Outdoor entertaining spaces
- Views, natural light, and orientation
- Overall condition and presentation
- Unique features or upgrades
- Proximity to schools, shops, and transport
- Recent comparable sales nearby
Of course, if you're actually looking to sell, it's important to remember that the final price ultimately comes down to what a buyer is willing to pay - and the negotiation skills of your agent. Having a strong, experienced agent in your corner can make all the difference.
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