A private home is valued using a combination of methods. The most common is the comparable sales approach, which looks at recent transactions for similar homes nearby and adjusts for differences in size, age, condition and location.
Land value is central for landed homes. The plot size, its shape, its orientation and any development potential all affect what a buyer will pay. A home on a larger or better-positioned plot may carry a premium that the building alone would not explain.
Condition and specification matter. A well-maintained home with quality finishes will generally achieve a higher price than a similar home that needs work. Keep records of renovations, approvals and major repairs, as these help a buyer understand what they are acquiring.
Be careful with online estimates. They can be useful for a rough sense of range, but they rarely capture the details that drive value. A professional valuation or a detailed comparison by an experienced agent gives you a more reliable basis for decisions.
If you are selling, price with reference to recent evidence and present the property clearly. If you are buying, use the same evidence to judge whether an asking price is reasonable before you make an offer.