Many property owners are receiving their Council rate notices at the moment and in addition to the amount of rates charged a great deal of interest is generally shown in the value of the property.
It is important to know however that the value determined to your home by the Council is not always the same amount you will receive if you were to sell your home tomorrow.
The primary purpose of council valuation is to provide a basis for determining the property owner’s contribution to the council’s consolidated revenue. The valuation is determined every two years on the 1st of January by qualified valuers’ engaged by your Council.
The council valuation will provide a guide as to the price you may be able to achieve if you are intending to sell. However you should also undertake a number of other steps to determine the value of your property.
You can ask an REIV member to undertake a market appraisal. This will provide you with the opportunity to discuss with them the factors that impact property values.
When your property goes on to the market is important to remember that prospective buyers often look at a range of homes within the same location. As such it is wise to make an effort to understand the local market. You can do that by checking the sales results each Saturday night at www.reiv.com.au or in the Sunday newspapers. There are also a range of websites that will provide you with information about how much properties in your area have sold for over the last few weeks, months or years.
Finally, when you actually sell, remember that the demand for your home will be influenced by what other properties are for sale in your area and the number of buyers looking. This means that the marketing and preparation of the home will also influence the sale price.
If interested in learning more about this update please contact me today!
Tags: consolidated revenue, Council, home, home tomorrow, market appraisal, moment, property, range, sunday newspapers, valuers
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As Domain Property Advocates continues to grow I will continue to provide superior service to those choosing to use property as their investment. It is an important choice of who to choose as the one responsible to look after your property. You can be sure that Domain Property Advocates will always strive to be the best. |  |
