RBA Cash Rate: 4.10% · 1AUD = 0.72 USD · Inflation: 3.6%  

    Booking    Contact    (02) 5500 5529

  Buy Invest Live [ FINANCE SPECIALISTS ]

Buy Invest Live
Home Loan Variable: 5.18% (5.38%*) • Home Loan Fixed: 4.95% (5.40%*) • Fixed: 4.95% (5.40%*) • Variable: 5.18% (5.38%*) • Investment IO: 5.34% (6.22%*) • Investment PI: 5.20% (5.65%*)

How to know if you’re paying a fair price

Consider engaging a buyers agent & getting home loan pre-approval

Understanding Property Value: A Guide for Home Buyers

Overpaying for a property can lead to:

  • Higher loan repayments
  • Stretched budgets
  • Potential funding shortfalls if bank valuations come in low

Determining Fair Market Value

Professional Valuation

  • Cost: $200-$600
  • Pros: Expert assessment
  • Cons: Expensive, time-consuming

DIY Research (Recommended)

  • Use real estate websites for median suburb values
  • Consider property-specific factors

Key Factors Affecting Property Value

  • Lot size
  • Number of bedrooms and bathrooms
  • Property condition
  • Parking availability
  • Orientation (north-facing preferred)
  • Energy efficiency features
  • Street characteristics
  • Views and outlook
  • Zoning and planned developments

Research Tips

  • Focus on recently sold similar properties
  • Compare final sale prices, not asking prices

Negotiation Strategy

  • Use your research to assess if the asking price is reasonable
  • Be prepared to negotiate, but act quickly to avoid losing the property

Final Steps

Consider engaging a buyers agent & getting home loan pre-approval

  • Helps you act quickly
  • Sets a clear buying limit
  • Allows confident negotiation

Remember, thorough research and careful consideration of property features will help you make an informed decision and avoid overpaying.

Related Articles:

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest
Picture of Kelvin Mason

Kelvin Mason

      REVIEW

Owner Occ. (Selected P&I Rates)
Interest*
4.95%
Comparison*
5.40%
   
5.09%
6.13%
   
5.18%
5.38%
   
5.19%
5.21%
   
Selected Invest Products (P&I)
Interest*
5.20%
Comparison*
5.65%
   
5.29%
7.58%
   
5.34%
6.22%
   
5.39%
5.41%
   
Selected Multiple Lenders (Fixed)
Interest*
4.95%
Comparison*
5.40%
   
5.09%
6.13%
   
5.19%
6.05%
   
5.19%
7.32%
   
Selected Multiple Lenders (Variable)
Interest*
5.18%
Comparison*
5.38%
   
5.19%
5.21%
   
5.24%
5.27%
   
5.24%
5.30%
   
Selected BIg-4 Lenders (Variable)
Interest*
5.34%
Comparison*
5.47%
   
5.54%
5.55%
   
5.64%
5.65%
   
5.64%
6.02%
   
Selected Invest Products (IO)
Interest*
5.34%
Comparison*
6.22%
   
5.38%
5.58%
   
5.45%
5.70%
   
5.49%
5.52%
   
Home Loan Variable: 5.18% (5.38%*) • Home Loan Fixed: 4.95% (5.40%*) • Fixed: 4.95% (5.40%*) • Variable: 5.18% (5.38%*) • Investment IO: 5.34% (6.22%*) • Investment PI: 5.20% (5.65%*)
Head Office Located in Western Sydney
SYDNEY | MELBOURNE | BRISBANE | ADELAIDE

Comparison Warning: The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. The comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval, and those rates and products shown will not necessarily be suitable or available. Full terms and conditions will be included in our loan offer. Fees and charges may be payable. Interest rates are subject to change. Some offers and cashbacks do not apply to internal refinances and are only available from certain lenders with qualifying criteria. The information provided on this website (or in any related materials, communications, or tools) is of a general nature only and does not take into account your personal objectives, financial situation, or needs. While we aim to provide helpful and accurate information, it should not be considered financial advice or a substitute for professional consultation. We recommend that you seek personalised advice before making any financial or lending decisions. Please contact us to discuss your specific circumstances and goals. The information provided in our posts, videos, comments, and shared content is for general information purposes only and does not constitute personal financial advice. All views expressed are our own and do not necessarily reflect those of our aggregator, lender partners, or any associated entities. Any examples or scenarios used are illustrative only. Any testimonials or reviews are individual experiences and do not guarantee future outcomes. Social Disclaimer. This page/advertisement is not affiliated with, endorsed by, or sponsored by Facebook®, Meta®, Instagram®, LinkedIn®, YouTube®, Google®, or any of their associated companies. Facebook® and Instagram® are trademarks of Meta Platforms, Inc. LinkedIn® is a trademark of LinkedIn Corporation. YouTube® and Google® are trademarks of Google LLC.

Buy Invest Live ABN 48 638 048 343 ACL 555044 | Privacy • Terms • Disclaimer

Buy Invest Live