Ep 77. | How I Work Out What A Property Is Actually Worth

Show Notes:How do you actually know what a property is worth?The advertised price guide is one of the first numbers buyers see, but it shouldn't be the number that determines what you're prepared to pay.In this episode, Tristan breaks down the process he uses to value properties for clients, from finding genuinely comparable sales and adjusting for differences through to understanding location, land, renovations and scarcity.We also look at why your borrowing capacity has nothing to do with a property's value, why valuations should generally be a range rather than an exact number and how doing this work before an auction or negotiation can stop emotion taking over.What You’ll Learn:Why you shouldn't rely on the advertised price guideHow to find genuinely comparable salesHow to adjust comparable sales for differences between propertiesWhy location within a suburb can materially change valueHow to think about renovated versus unrenovated propertiesWhy your maximum budget shouldn't determine what you offerWhy property valuation is a range rather than an exact numberHow to set your limit before negotiating or bidding at auction👋 About the ShowBuying Melbourne is Melbourne’s go-to podcast for buyers who want to make smarter property decisions. Hosted by Tristan Larkin and James Rankin from Tomii Property, we bring you expert tips, market insights, and real stories from the frontlines of real estate, finance, and construction. Auctions, rates, off-markets - we’ve got you covered.🔗 Resources & LinksJoin our mailing list & read the blog → www.tomii.com.auSubscribe for weekly auction results → www.tomii.com.au/auction-resultsFollow Tristan on TikTok & Instagram → @tristanlarkinFollow James on TikTok & Instagram → @james__rankin