Residential Property Appraisals & Valuations

Professional Residential Property Appraisals & Valuations

Are you considering selling and looking for an independent property appraisal to get an idea of your home’s market value? Maybe you need a formal property valuation for tax or insurance purposes. Perhaps you’re refinancing, settling an estate, or just want to know where your property stands in the current market.

Here at Household Properties, we offer both property appraisals and formal valuations in Sydney, giving you professional, in-depth insights to help you make informed decisions. Our team is made up of some of the most experienced agents in the Sydney area, so you know that when you partner with Household Properties, you’re in good hands.

Property Appraisals

A property appraisal is an informal, non-legally binding assessment of a property’s market value. It provides a general idea of what your property could sell for in the current market. Typically conducted by real estate agents (like us), appraisals consider recent sales of similar properties, local market trends, and factors such as location, size, and the physical features and condition of the home.

Unlike a formal valuation, a property appraisal is a quick and cost-effective way to gauge your property’s worth without requiring an extensive report. While not legally recognised for financial or legal matters, an appraisal can give you valuable insights into how your home compares to others in the area and what potential buyers may be willing to pay.

A property appraisal may benefit you if you are:

Thinking about selling
Refinancing your mortgage
Thinking about renting out your property
Looking to understand market trends in your area
Thinking about renovating (to gain an understanding of the property’s value, pre and post-renovations).

Property Valuations

On the other hand, a property valuation is a formal, legally recognised assessment of what your property is worth, carried out by a certified property valuer (also us). Unlike an appraisal, which provides a general estimate based on market trends and recent comparable sales, a property valuation is more thorough and detailed. It goes beyond surface-level information and considers a wide range of factors that may influence its value.

These factors include the property’s features, layout, number of bedrooms, and any additional amenities. The property’s condition is also assessed, including whether any renovations are complete or unfinished. Location also plays a role, considering things like the property’s proximity to transport, amenities, and whether the property is in a bushfire or flood zone. Other considerations include the current state of the property market, comparable sales, and zoning regulations.

A property valuation may benefit you if you are:

Seeking finance or refinancing
Settling a divorce or property dispute
Applying for insurance or estate planning
Assessing potential capital gains or tax liabilities

Our Process

Although the processes for property appraisals and valuations are largely similar, there are some key differences in how we carry them out, particularly in terms of the level of detail and research.

Book Your Appraisal/Valuation: Getting started is easy—just contact us to book your property appraisal or valuation. We’ll set up a time for a visit that works with your schedule.
Property Inspection/Visit: During the property visit, we’ll assess its features, condition, and layout. For an appraisal, we’ll do a quick walkthrough, while for a valuation, we’ll examine the property’s condition, past improvements, and potential future work in more detail. We may also sit down with you to discuss the property and any relevant details.
Market Research & Consideration of Other Factors: After the property inspection, we’ll conduct our own research, looking at recent comparable sales and additional factors like zoning laws and local development. This is a quick market analysis for appraisals, but for valuations, it’s a more detailed review to help determine the property’s full value.
Estimate & Report: Once we’ve completed the inspection and research, we’ll provide you with either an estimate or a full report. Appraisals give you a general market value, while valuations provide a detailed, legally recognised report that covers all the factors affecting your property’s worth.

Your Local Sydney Property Market Experts

Whether you’re planning your next move or just after some clarity, we’ll give you a clear, accurate assessment tailored to your needs. If you have any questions about how we can help you, please don’t hesitate to contact us. We look forward to hearing from you.