Property Value: Selling and Buying a Home for a Growing Family

Are you looking for a new home?

For many couples, finding a new home is a family necessity, especially when they are expecting their first baby, or when their child becomes mobile at around 12 months of age, and the rental, or starter home, suddenly becomes far too small.

What had seemed palatial for young newlyweds seems to have shrunk to half the size, with just one tiny tot running round, dropping toys and emptying cupboards at will.

People are upsize their homesGrowing Family - Property Valuation

So people upsize their homes when the family starts growing. These are exciting and confusing times for the parents –

  • How do you determine property value?
  • How much house can you afford?
  • What value deposit do you need, remembering that the bigger the deposit, the less the repayments become.
  • Where can you get a property value estimate, while sitting in your armchair?

The good news is that property value guides are available online, where buyers and sellers are able to estimate the value of properties, based on sales across Australia.

Compare these property value estimates against whatever is on the market in your chosen area, and look at past pricing dating back 30 years.

Or you can compare different suburbs side-by-side, so you can see the potential, or lack thereof. This can all be done on your mobile phone, while you’re out searching.

Pull up a property value report

Pull up a property value report and your finances suddenly seem easier. You can decide, on the turn, whether you can afford your forever home, or a smaller house with extension possibilities. It will also give you access to local schools, and development approval for properties and streets.

Then you can decide whether increasing the size of your property will increase the value, or over-capitalise for the area, based on the property value calculator – on your phone.

You could also leave it in the hands of your trusty real estate agent, who has experience and knowledge of the area and at the touch of a button can give you a property valuation report and a property value guide.

Decide based on your family’s budget

Whatever you decide, remember that whatever works for you and your family’s budget is best for you in this booming economy. Property in Australia is a great investment.

For many couples, finding a new home is a family necessity, especially when they are expecting their first baby, or when their child becomes mobile at around 12 months of age, and the rental, or starter home, suddenly becomes far too small.

What had seemed palatial for young newlyweds seems to have shrunk to half the size, with just one tiny tot running round, dropping toys and emptying cupboards at will.

 

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