Whether you are considering buying or selling, the question is always the same… what is this property worth? Well, it turns out there are a lot of factors and opinions that need to be looked at.
As an Agent, we consider a multitude of factors when it comes to providing an appraisal of a property or creating a sales and marketing campaign. Often, we are invited into homes as a representation of what the buying public may or may not perceive as value. Further to this, valuers provide both physical and desktop valuations of properties for lenders to approve loans by and instant automated valuations online are now readily available thanks to computer generated algorithms creating professional looking reports. Combine this with all the opinions of friends, family and neighbours, the range of value you end up with can be quite wide!
As a result of this, I have put together a list of factors that need to be considered with every property to help you determine what it is worth to YOU. I’ve then broken it down into three parts:
- What you CAN control
- What you CAN’T control
- What are the opportunities available
Lets start with the list of factors…
The Map to Property Value
- Location
- Building structure
- Fixtures and fittings
- The number and type of bedrooms (master, ensuites, built-ins, walk in robes)
- Property condition
- The size of the building/home
- Local Zoning
- The size of the land (including shape, size, aspect, accessibility)
- Street frontage or frontages
- Ease of access to the property (both pedestrian and vehicle)
- Planning controls and local council regulations
- Size, Layout, functionality and liveability
- Architectural Style
- Topography, layout of the land and positioning of dwelling on the land
- Market conditions (interest rates, inflation, consumer sentiment)
- Comparable sales
- Improvements to house and land
- Land Value
- Vehicle Accommodation
- Access to amenities and public transport
- Development and/or renovation potential
- Aspect
- Property History and Current use
- What is happening with adjoining lots, neighbours and immediate area
Now, lets break this down into controllables, uncontrollable and opportunities…
What CAN you control or change?
- Building structure and condition
- Fixtures and fittings
- Number of bedrooms
- The size of the building/home
- Vehicle accommodation
- Size, Layout, functionality and liveability
What CAN’T you control or change?
- Location
- Local Zoning (includes flood, bushfire, mine subsidence)
- The size of the land (unless there is opportunity to acquire neighbouring lots)
- Planning controls and local council regulations
- Land Value
- Comparable sales
- Market conditions
- What is happening with adjoining lots, neighbours and immediate area
- Access to amenities and public transport
- Aspect
- Property History and Current use
- Street frontage or frontages (unless there is opportunity to acquire neighbouring lots)
What are the OPPORTUNITIES to look for?
- Development and/or renovation potential
- Planning controls and local council regulations
- Aspect
- Access to amenities and public transport
- Topography and layout of the area
- Street frontage or frontages
- What is happening around the subject property and adjoining lots
I know, its alot to think about! Hopefully this is useful as a guide and feel free to reach out if you need a hand navigating your next property sale or purchase.
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Amazing agent! . Luke is extremely professional and knowledgeable. He takes his work very seriously. We knew we were in good hands and could trust and rely upon him throughout the process to achieve a wonderful outcome for us selling our loved family property. We cannot recommend Luke enough!!
Luke is humble, kind and a skilled negotiator. We have found him to be a standout human in an industry that's not highly regarded. It can be difficult to know who to trust - we can trust Luke and Murdoch Property - he's not flashy & genuinely cares.
Highly recommended. Luke's approach to selling is friendly yet very professional, consistent, prompt and thorough in his communication. He made the process so much easier than we imagined and provided much needed support and advice that helped achieve the sale. His Newcastle market knowledge was outstanding and communicated in an easy to understand manner. Back office support from Diana was also greatly appreciated. I highly recommend Luke and his team to anyone seeking to sell their home.
Calm, Professional and Trustworthy from Start to Finish. Selling our property was a significant decision, and I am so grateful I had Luke Murdoch guiding me through the process. What I appreciated most about Luke was his calm and steady nature. No matter what was happening, he remained approachable, level-headed, and reassuring. He took the time to explain things clearly, answered my questions honestly, and never made me feel like I was a bother. Luke is incredibly knowledgeable, but what sets him apart is the way he combines that knowledge with genuine care for his clients. He was always accessible, kept me informed throughout the sale, and regularly went above and beyond what I expected from a real estate agent. Selling a home can be stressful, but Luke's professionalism, patience, and even temperament made the whole experience feel much easier. He's not only an excellent agent but also an all-round good guy who genuinely wants the best outcome for the people he works with. I wouldn't hesitate to recommend Luke to anyone looking to sell their property.
Luke was fantastic throughout the entire process of purchasing our home. His communication was excellent from start to finish, always keeping us informed and happy to answer any questions we had. He was honest, professional, and genuinely easy to deal with, which made the whole experience much less stressful. What stood out most was his integrity and straightforward approach. We always felt like we were getting honest advice, and he went above and beyond to ensure everything ran smoothly. I would highly recommend Luke to anyone looking to buy or sell a property. A great real estate agent and an all-round good bloke.
“5 STARS” are just not enough …! We hadn’t sold or purchased a property in over 25 years - so the prospect of selling was daunting. From the start however, Luke made the process extremely streamline - explained the process, and what to expect. Luke has a very fine tuned selling process which saw our investment property - photographed, on the website and open houses within 2 weeks we had ample offers to make a decision after this short period - which was based On Luke following up all offers ensuring they had finance etc approved. We had a tenant who had just moved out of this property - and Luke was extremely patient and informative of his processing the sale of our property to the tenant. this ensured a very smooth transition to selling the property vacant.
Can’t recommend Luke enough his manner and professionalism filled me with confidence.. he made it a stress free sale
An easy experience from start to finish . Luke is straight forward, professional and a great communicator. His knowledge of the Newcastle market is extensive and good to to have when you are making big decisions. I bought and sold simultaneously with Luke and the process was smooth and hassle-free.