Your RV is not your homes worth

One of the first things homeowners do when they start thinking about selling is check their RV. And I get it. It's a number attached to your property, so it feels like it should tell you what your home is worth. But here's the reality:

Your RV and your market value can be two very different things.

An RV isn't a market appraisal. Your Rating Valuation was created for one purpose: helping councils calculate rates. It wasn't designed to predict what a buyer would pay for your home today.

Nobody walks through your property when your RV is assessed. The process doesn't see your renovated kitchen, new bathroom, landscaping, or the fact you've spent years maintaining the home.

It's a broad-brush assessment, not a buyer's opinion.

The market moves. RVs don't.

Property markets can change quickly. RVs are only updated every few years, which means the number attached to your property could be based on a market that no longer exists.

In some cases, your RV might be higher than what buyers are currently willing to pay. In others, it could be well below market value.

That's why using an RV as your benchmark can sometimes lead sellers down the wrong path.

Buyers aren't shopping by RV

When buyers decide what a property is worth, they're looking at recent sales. They're comparing homes, locations, presentation, features and condition. They're looking at what's happened in the market over the last few months, not what the council recorded years ago.

That's where real value is determined.

So, what is your home actually worth?

The simple answer? Whatever a willing buyer is prepared to pay in today's market.
Not what an algorithm says. Not what a website estimate says. Not what your neighbour reckons it's worth.

The best way to understand your property's value is to look at recent comparable sales and current buyer demand.

Every property is different, and every market is changing.

If you're curious about what your home could achieve today, I'd be happy to give you an honest, up-to-date assessment based on what's actually happening in the local market right now. Get in touch!

Steph Monopoli | 021 732 644