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What is considered for a residential property market price appraisal?


The matters considered when preparing an appraisal for residential properties for sale or lease include:
  • Comparative market assessment

    What is selling and what has sold in the last 90 days and for how much, based on data and on local market knowledge from other similar transactions. 

  • Property Size 

    The size of the land and structure size, the size of rooms in the house, outdoor spaces, and garage.

  • Features

    The number of bedrooms, whether there is an ensuite, built-in wardrobes, whether the home has views, pool.

  • Fixtures & Fittings

    Anything that can be stay with the property, such as a dishwasher, washing machine fitted into the laundry, downlights; the quality, brand and age are all relevant. 

  • Location

    Proximity to schools, shops, public transport and new developments, also whether the suburb is increasing in value.

  • Building structure

    Whether the building is in good condition, are there cracks, outdated guttering or roof, or other building or structural issues. 

    Presentation

    Overall presentation and fit out, the architectural style and quality finishes.

    Accessibility

    Layout of the property and access issues. Does it offer options for those with a disability or special access requirements.

    Legal

    Planning or zoning restrictions (current or prospective), local planning policies and registered and unregistered interests.

    Market Conditions

    Local and wider property and macro-economic factors.

Would you like to learn more about market appraisals?

Read more about what you can expect from a market appraisal from a Realmark expert.