All Topics / Help Needed! / Calculating value of house + land
Hi there,
I’m looking to purchase a property which has been listed by the agent for what he says is approx land value plus around $30k for the house, which is old and liveable but would need some work.
I want to compare prices to a number of other recent listings/sales in the same suburb, and I am wondering what sort of value to attribute to houses to ensure I get a comparable value for land per sqm.
The property I am looking at is a 1950s/60s weatherboard 3×1 on stumps. Land is 349 sqm. Listing price is $435k
There is a sale in the suburb last week for a 4 x 2 tile and brick home with b/g pool, on 445sqm, the house is in much better condition. Sold for $600k
Another property, newer brick and tile 3 x 2, on 317sqm is listed for $550k.
Almost across the road is a near-new 2 storey luxury townhouse on same size block (350sqm) listed for $780k.
How do you guesstimate the value of house so you can deduct it from a listing price and then work out rough $ per sqm of the land?
I would have loved to get a residex report but i’m afraid Richard is on holidays and not sure if anyone else has them currently avaialble for WA properties. Probably going to pay the RPdata suburb sales report or a similar one online.Thanks for your advice.
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