Investors build wealth on back of asset value
November 01, 2012
Few people hold a single asset worth more than their home, however rarely do they know how much it is truly worth.
Knowing your property’s current market value can go a long way to helping you achieve your financial goals.
Once you know what your own home is worth, it opens up the possibility of using the equity to buy an investment property.
For the property investor, this can mean capitalising on the value held in multiple properties, including their principal place of residence.
The equity in your home is the difference between how much you owe on the home and how much your home is worth. You can increase your equity three key ways - by decreasing your mortgage via additional payments, through the naturally rising property values or by home improvements that will raise the perceived value of your home.
If you own a property, you should feel confident asking for an appraisal at any juncture not only when you are planning to sell.
Many factors affect the value of a property but the type of property and its location are probably the most important. Market conditions and the demand for properties are also extremely influential.
The best way to establish an estimated selling price for your property is to ask an area specialist to view the property and give you their professional opinion.
LJ Hooker’s no-obligation, comprehensive appraisal service includes the appraisal at a time that suits you and your tenants, a detailed report on price movements in your local area. The appraisal costs you nothing.
For a landlord, information on what a property might be worth in a sale situation is as important as up-to-date information about market-driven rental returns. Putting a dollar figure on a property asset is as important for financial planning as other wealth-building assets such as shares and superannuation portfolios.
With its team of market specialists, property managers and property finance specialists, your LJ Hooker office partners with property owners to assist them with building long-term wealth via property investment.
Seeking an appraisal for information on how the current market views your property means you are a forward-thinker who is playing an active role in your own financial planning, and not just curious!
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