Value Accurately

First Home Buyer Hub Value Accurately

7 RESOURCES

OVERVIEW

I’ll show you how you can go from “clueless” to “clued in” when it comes to knowing how much you can really afford. It goes beyond just plugging a few numbers into an online calculator. Using this strategy you will understand the true costs of buying and owning a home, including a few sneaky hidden fees that you might not expect.

Value accurately

House price research is THE first step in buying a property. Unfortunately, it’s one of the most confusing steps too.

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Compare apples with apples

Although it may be a little hard to find all this information, it is absolutely critical to do so if you want to figure out the correct valuation.

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Research similar Property Sales

Once you find at least three or four properties that are similar to your property, the next step is to figure out which one is inferior and which one is superior.

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Observe the market

It’s important to observe the market as it helps you understand its dynamics.

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Research Similar Property Sales

This is the most important part of the process, especially in today’s market where real estate agents aren’t putting prices on properties and they are ‘leaving it to the market to decide’. In other words, they are hoping someone is going to overpay.

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Research Rental Income Per Week

As I mentioned, even if you are intending on making this property your home it’s worth knowing what you could rent it out for in the future—to give you options, and also help you understand if it could be sold as an investment property in the future.

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Avoid these common mistakes

Keeping all these points in mind will help you value a property more accurately and put you in a better position to make a well-informed decision.

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