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How much is my house worth?

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If you are looking to sell your house or wondering whether or not now is the right time, knowing how much your house is worth is essential. The difficulty, however, is working out the actual monetary value of your property and being mindful of the fact that regardless of your home's condition, its value will be heavily influenced by the housing market as well as buying demand.

What is my house worth?

The quickest way to calculate how much your home is worth is to get a property report. Each report includes a price estimate guide, the property's sales and rental history, and additional real estate information. Best of all, our property reports are free.

I know my home's value, what next?

Once you've an accurate idea of the value of your home, you are in a much stronger position to make educated financial decisions. You might want to renovate to add value to your home or purchase an investment property. It is common for property owners to fund these moves by accessing equity in their existing property.

How much equity can you access?

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How is my property's value calculated?

There are many factors that contribute to determining the value of a home. If you are interested in finding out your house's value, here are 5 things you may want to research and consider.

terrace-houses

#1 Housing demand

Your property will be worth more if there is a shortage of housing in your area, and a high demand for it. The downside is that selling your property when there is a lack of buyer interest or too many other houses on the market will result in an overall lower worth.

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#2 Local real estate prices

Looking at other houses in your area that are around the same size and have sold recently is a great way to get a feel for your own property’s worth as well as how active the local real estate market is.

It is important to be objective when comparing your property with others in the area, as otherwise you may think that your property is worth more than it actually is. Moreover, be careful that you are using local selling data from no more than 3 months ago, and if the market is busy be aware that 3-month-old data will be outdated.

sydney-rocks-harbour-bridge

#3 Location

A property's value is greatly influenced by its location. Generally speaking, a house near the CBD, in a popular coastal area, close to good schools or with easy access to public transport will be of a high value.

While you cannot change the location of your property, it is important to be aware that the desirability of certain areas can come in and out of fashion, so your house could potentially be worth more now than it did when you first purchased it.

Read our list of Australia's safest suburbs.

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#4 Property condition

The better condition your property is in, the more value added to your property. This does not just account for the external condition of your house (e.g. flaky paint), but also includes how structurally sound the property is. Reducing cracking, having strong floors and archways and a secure roof are assets that make up a valuable property.

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house-layout-sliding-doors

#5 Size and layout

The size and layout of your house also plays a key role in determining its sale price. A property with more than one bathroom, multiple bedrooms and a cohesive overall layout will usually be valued at a higher rate. In saying this, many buyers will choose location over size and layout, however it does depend on the demographic interested in the property.

Understanding your property’s value is very important when the time comes to sell your property or accessing your equity. Being aware of the factors that influence your home's value is essential.

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How much is your home worth?

How much is your home worth?

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Important legal stuff

COMPARISON RATE WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. The comparison rates are based on a loan amount of $150,000 over a loan term of 25 years.
Lendi is the trading name of Lendi Pty Ltd, a related body corporate of your licensed credit assistance provider, Auscred Services Pty Ltd (ACN 164 638 171, Australian Credit Licence Number 442372). We will never sell your email address to any third party or send you nasty spam, promise.
EXAMPLE: This example is current as at 20th October 2016. A Click Loans Online Principal and Interest Loan of $150,000 over 25 years has monthly repayments of $767. This is calculated based on the interest rate of 3.69%, comparison rate of 3.69%, upfront fees of $0 and annual fees of $0.
IMPORTANT INFORMATION: Loan terms of between 1 Year and 40 Years are available subject to lender and credit criteria. Maximum comparison rate will not exceed 14.99% (see comparison rate warning above). Any calculations or estimated savings do not constitute an offer of credit or a credit quote and are only an estimate of what you may be able to achieve based on the accuracy of the information provided. It doesn't take into account any product features or any applicable fees. Our lending criteria and the basis upon which we assess what you can afford may change at any time without notice. Savings shown are based on user inputted data and a loan term of 30 years. All applications for credit are subject to lender credit approval criteria.
Lendi is a privately owned and operated Aussie business. Our mission is to provide Aussies with the right experience when choosing a home loan from our panel of major and non-bank lenders including Click Loans which is a wholly owned subsidiary of Auscred Pty Ltd and a related body corporate of Auscred Services, your credit assistance provider. Although Lendi compares over 1600 products from over 30 lenders, we don't cover the whole market or compare all features and there may be other features or options available to you. While Lendi is 40% owned by founders and employees, we have also been supported by some great minority shareholders including Bailador, Macquarie Bank Ltd and a number of Australian sophisticated investors. We have an independent and founder led board.
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