How much is your home worth?

The property market remains hot – and with houses across New Zealand getting snapped up quickly, it’s important to know how much your home is worth.

While some sellers rely on the Capital Value (CV), your local council generally determines these figures every three years, and they may not be entirely accurate.

Here are some simple ways to determine your property’s true value.

Look at comparable sales

Rather than relying on the CV alone, it can be a good idea to look at comparable sales to find out how much homes in your area are selling for.

In an active market increased competition continues to drive up property values. If homes in your local area have sold for above the CV, it’s likely that yours will, too.

Consider a valuation

You could also think about arranging for an independent third party to complete a formal valuation on your home.

This can provide a helpful estimate, but it’s worth noting that valuations can sometimes err on the conservative side and may not take into account the current market demands.

Talk to a local expert

For an up-to-date estimate of how much your property could sell for, it’s worth speaking to an experienced real estate agent.

Whether you’re planning to sell or are looking to refinance, a real estate agent can help you to explore your options and guide you to make the right decisions.

To find out more, contact your local Mike Pero Real Estate Agent today. Or, for support with all your lending needs, contact your local Mike Pero Mortgage Adviser.