Calculating Your Property Value

There are many factors that impact the value of your home in Perth. However, it's difficult to put an exact monetary figure if you don’t know where to start. If this resonates with you, don't worry, we've got some advice for you.

There are many factors that impact the value of your home in Perth.

However, it's difficult to put an exact monetary figure if you don’t know where to start. If this resonates with you, don't worry, we've got some advice for you.

How do I calculate my property value? 

The quickest way is to get a market appraisal done. Each report includes a price estimate guide, the sales history and the rental history for that specific location.

Therefore, it's easy to see if there have been any changes in value over time. Did you know that Thought Leaders Real Estate is a property management agency in Scarborough that offers free property reports and market appraisals? Be sure to get in touch with us about this. 

Now that I know my property's value, what next?

Once you have got an accurate idea of the value of the Perth property, you are in a much stronger position to make informed purchase decisions. You might want to renovate to add value to your home or purchase an investment property.

Calculating your property value, what should I consider?

Many factors contribute to determining the value of a home. If you are interested in finding out your Perth property's value, here are 5 things to consider. 

#1 Housing demand

There's no doubt that housing prices are at an all-time-high. The good news? Your home may be worth more now than it did a couple of years ago. This value only increases when you sell in an area with high demand for residential properties in Perth.

#2 Local real estate prices

You may be surprised by how much your property is worth if you use data from recent sales transactions in the area. Be sure to consider only homes that have been on sale or listed within the last 3 months. Less active markets can produce outdated information about pricing trends and buying patterns.  

#3 Location

As the saying goes, 'it's all about location'. The market for real estate varies depending on location. Generally, houses close to schools or have good public transport options will be more expensive than those in less popular areas. 

#4 Property condition

The condition of your property is an indication to potential buyers on how much maintenance, renovations and upkeep are required for the home. People want the best for their investment and want to be informed on what they are buying. This can be minor cosmetic issues like flaking paint or significant structural problems such as cracks in floors and roofs. 

#5 Size and layout

When you're calculating your property value, it's important that the size and layout are considered. A property with more than one bathroom will usually be valued higher. The same goes for large backyard space, more number of bedrooms and the spaciousness of common areas. 

Have you been calculating your property value, but are now stuck on what to do next?

Then contact our experienced property management Perth team at Thought Leaders Real Estate.  We are a real estate agency in Perth who are passionate about guiding clients through their real estate queries.