What's it Worth?

When buying or selling a home, there are many decisions you have to face:

 When Buying:

• Is the asking price fair and reasonable? 
• Is the price a true reflection of the market value? 
• Could I have offered too much, or too little?
  

When Selling:

• Has my property increased in value?
• How much should I sell for?
• Am I asking too much - or too little?

Valuing residential property has principally been the domain of registered property valuers.

But what if you want to assess the market value of a property for yourself?
How difficult is it for YOU to judge the market value of a residential property?

In my daily work as a property valuer, I have developed a tried and tested method for assessing the market value of residential properties.

This method is based around 5 KEY STEPS and there is no reason why you cannot use a similar process to accurately judge a property's market value yourself.

The 5 key steps are not hard to complete, so long as you are willing to complete a bit of basic investigative work, combined with some simple calculations, and can apply common sense principles and logic.

The steps include: 

  A detailed survey of your subject property. 


  An honest assessment of the property's strengths and weaknesses. 


 Collection of recent comparable property sales in your neighbourhood. 


 A comparison of these properties and their strengths and weaknesses.  


  Some simple calculations to reach a value conclusion.


By using the process above you actually develop a "Feel for the Market"...

and once you have this...

...you are then in a position of power to negotiate the...

Right Price, First Time!


Every day I see people make poor and uninformed decisions when they buy or sell property.

Why do they make poor decisions?

Because they have limited market knowledge, or let somebody else talk them into a deal which ultimately doesn't suit them.

The answer is to make yourself a smart buyer or seller using the market information which is out there for the taking.

A smarter buyer will spot the bargain when it becomes available.

The smart seller will know what their property is really worth so they get the best price in the quickest time frame. 

In the following pages I will outline the five steps listed above. Each step is vital in the process to gain a true understanding of market value.

Step 1: Know your subject property