How Much Is That House Worth? | Estimate ANY Property Value (Australia)


Sam: Want to know what your property or the property you’re considering purchasing is worth? In today’s video, we’re going to talk about
the five key elements to be considered when valuing a property and where you can go to
get access to a free property report. Sam: Hey guys, it’s Sam. At Lendi, we’ve helped thousands of Australians
estimate the value of their property. If you’re time poor, jump onto lendi.com.au
to get one of our free property reports. Before we start, if you’re interested in getting
great home loan tips in Australia, hit the bell so you can get notified when we upload
new videos and make sure you subscribe to our channel. Sam: There are never things the contribute
towards the value of a home. Here are the five biggest contributing factors. The first is supply and demand, market conditions
and recent sales in the area. This is pretty simple. Your property will be worth more if there’s
a shortage of supply in the area and the demand is there. The supply and demand of the property in your
area can be determined by a number of different economic factors such as inflation, employment
rates, and different lending restrictions. Current market conditions will significantly
impact demand and prize. You can get a pretty easy indication by checking
recent clearance rates in your area. Sam: The second major factor is comparing
recent local real estate sales. A good way to get an indication of the price
of your current property is to compare recent sales of comparable properties in the area. You can do this research on a website like
domain.com.au and make sure of the properties you’re comparing to have been sold in the
last three months so that they’re reflective of the current market. Sam: The third and arguably the biggest factor
is location. Location will significantly impact the price
of your property. Generally speaking, a house in a desirable
area will be close to the CBD, have good schools and hospitals nearby, and we’ll also have
good access to public transport. While you cannot change the location of your
property, it’s important to consider that the value of the suburb could significantly
change over time. This means the property could potentially
be worth much more than when you originally bought it. For example, if the suburbs had a significant
amount of development in the area. Certain lenders will restrict their borrowing
depending on how they categorize the location. For example, a suburb can be classed as high
density if there’s a high supply of units in the area and this can significantly impact
the amount a lender is willing to offer. Sam: The fourth main element is the size and
layout of the property. This plays a key role in determining the property’s
value. A property with more than one bathroom and
multiple bedrooms with a cohesive layout will genuinely be valued at a much higher rate. Many buyers would choose location over size
and layout, as a property can be improved and upgraded over time. The renovation potential of the property is
also something to consider. Can additional bedrooms or bathrooms be added
or can the property be extended? All of this will add value to the property. Sam: If you want to add value to your home
by renovating or upgrading, you could access equity in your property to complete the renovation. Jump onto lendi.com.au to speak to a Home
loan specialist and find out if this is an option for you. The investment potential of the property is also something to consider How easily could the property be rented out
and what’s the rental demand in the suburb? Sam: The fifth main element is the property’s
condition. If the property is in a poor condition, whether
it’s internal, external, or structural, this can turn off a lot of buyers and can also
significantly impacts the property’s prize. Keep in mind that first impressions such as street appeal can add significant value to a property. That’s it. The five main elements to consider when determining
a property’s value. Do you know what your property’s worth or
have you recently valued your company or had challenges with valuing your property? Please let us know in the comments below. Sam: Now, if you’re looking to refinance or
purchase a new property, jump onto lendi.com.au to access your free property report. You can also join our private Facebook group,
Home Loan Hacks Australia, where we give useful tips and talk all things home loans. If you found this video useful, please give
us a thumbs up and add any comments in the section below. Lastly, if you’re wanting to know more about
the hidden fees of home loans, check out this video here, or if you want to check if you’re
on the best interest rate, you can check this video out.

3 Replies to “How Much Is That House Worth? | Estimate ANY Property Value (Australia)

  1. Thanks for watching! Were you aware of what might increase or reduce the value of a property? Please let us know in the comments below 😊

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