Book a call
Book a call

THE SAME HOUSE OFTEN IS VALUED DIFFERENTLY

elephant (1)

Ever wondered why a home can be listed for one price, valued at another, lender-valued at yet another price and then sold yet another? #HomeBuyer#FirstHomeBuyer #Valuation #HomeLoan#ElephantStory This scenario is like the tale of the 6 blind men and the elephant. Each touched a part of the elephant and decides the whole big picture without any input from the others. The bank value If your home is mortgaged then your lender will definitely value it. This gives the lender security against the borrowed amount if you cannot pay your mortgage and the lender must sell the property to recoup its debt. Hence a bank valuation is usually conservative, sometimes 10%-20% less than the current selling prices of comparable homes. The selling agent’s price appraisal Real estate agents are commonly asked to assess the market value of a property. This will often help a vendor decide who to engage to sell their home. An agent will inspect the home and research comparable sales in the local suburb or town before producing written feedback with a sale price estimation such as “between $X and $X” or “from $X”. This price guide is used when advertising the house. The sale price The price the successful buyer is prepared to pay, and the vendor is willing to accept, on the day the contract is signed is the property’s legally binding sale price. Hot markets, high demand in certain areas and a big turnout on auction day can all have an effect on the final sale price for a property. The local council’s valuation The annual local municipal rates bill shows the notice a Capital Improved Value (CIV), site value, net annual value (NAV) and/or gross rental value (GRV). These figures are calculated using comparable sales data and the bi-annual figures from the State Valuer-General’s offices. Councils and water and fire authorities, use these figures to work out how much homeowners owe them for using their infrastructure and services. The homeowners’ price Every property owner will have a ‘dream price’ in their minds when they come to sell. It includes the memories, convenience factor and any add-ons made to the property. In the end the market will usually decide a property’s value by what a buyer is willing to pay for it at auction or through private sale. Are you looking for a valuation on your property? Contact me on 0425 341 086 or https://www.facebook.com/Madhu.Chaudhuri.FMS/ for a free property valuation.

Looking for a low-maintenance home?

Conta

Container home

As a home owner one of your main considerations will be initial and ongoing maintainance costs. A new trend to consider is a container home. #HomeBuyer #FirstHome #Homeconstruction #GrannyFlat #HomeLoan #Containerhome #innovation

These homes are made from old shipping containers which are then modified to fit the size requirements of the home owners. They can be used as building blocks for homes, granny flats, shops or offices. The containers are like giant Lego blocks that can be built into anything at all.

They are cost effective, quick to build and tolerate harsh weather well (imagine transporting goods on cargo ships and being handled by cranes and trucks for years). These homes are eye catching and talking points and you sure to be the star.

So, consider this new trend while looking into your next home be it an investment or one you are planning to live in. Call Madhu on 0425 341 086 to explore the best finance option for you. Read more on our Facebook Page or on LinkedIn.

Median home prices in Sydney($785k) are nearly double those in NSW at $405k.#Sydney #homeowner
Here are the details regarding the deposit required, rent, LVR and more since 2001.
Call Madhu on 0425 341 086 or email her at loans@financeandmortgage.com.au to understand where you stand and how and where to buy your next home.

NSW 2march 17

crossmenu