The 101 on property appraisals
Whether you’re looking to sell in the near future, or you’re simply curious as to what your home might go for in the current market, a property appraisal is the logical first step to get a value estimate that you can use to understand the potential of your property.
We’ve all had conversations with friends and family (or that ‘property savvy’ acquaintance who likes to dole out unsolicited advice!) which can leave you uncertain as to what you could truly expect if you put your house on the market tomorrow.
Mercer & Cooper are currently offering a complimentary property appraisal for clients who are looking to stay informed about the value of their home, so let’s take a look at what you can expect from the process.
To get an accurate estimate of the value of your property, an appraisal will take into consideration recent, comparative sales data from around your area to see what yours could sell for. On top of that, your agent will look at the features of your home, any unique selling points (which prestige properties are full of) such as a premier view, extensive grounds or unique layout.
For many buyers, size matters, so bedroom size, overall property footprint as well as the location are all key factors in how much your property could go for – for example, 3 bedrooms is often more desirable than two, and in the world of prestige property, larger than life homes are not uncommon.
It’s essential to have your property appraised by agents that know your local area. Mercer & Cooper are an authority on the Northern Gold Coast suburbs, both living and working here, so they understand the community, the location and the culture. In getting an accurate guide figure as part of your property appraisal, local knowledge is critical, and an in-the-know agent will quickly be able to compare and contrast your property against others of similar value.
Like many things in life, timing is everything, so it’s important to be aware of the direction of the real estate market when you embark on a property appraisal. Keep in mind, a real estate agent in your local area will have their finger on the pulse of the market, and an insider understanding as they deal with selling homes each and every day.
The market climate will always impact the indicative value that comes from your property appraisal, but for those with prestige properties as part of their portfolio or perhaps as their main residence, you’re in a unique position within the real estate market.
The market for prestige property experiences less fluctuations than the wider real estate market, and we’re likely to only see an increase in demand for prestige homes, with Australia opening up once again the rest of the world, interstate buyers keen to get a slice of paradise in the Northern Gold Coast, and speedy clearance rates all round.
Remember, a property appraisal is a solid indicator to work with, and the more information you have, the more empowered you are to make the right move for yourself and your family. At Mercer & Cooper, we love all things prestige property, so get in touch today for your complimentary property appraisal to discover where your property journey can take you.
All information contained on this website is for your reference only. You should always make your own enquiries and seek independent legal advice in respect of any information about real estate law and the purchasing of real estate and related subjects. This website may contain hyperlinks to websites operated by parties other than Mercer & Cooper. Such hyperlinks are provided for reference only and Mercer & Cooper does not control such websites and is not responsible for their contents.