We have decided to purchase a property and the loan has been approved by the bank too but we are still a bit unsure of the value of the property. The bank valued it at the exact loan amount. We are putting about 24% (including the First Home Grant) of the total price.
The property is about 8-10 years old and is located in a suburban CBD, very close to the train station. I have checked the median price for that area on http://www.homepriceguide.com.au and our purchase price is lower than the median price. Not sure if that makes any sense.
It's a 2 bedroom unit, 1 bathroom, 1 garage, security building with lifts and intercom. The area is about 70 sq m.
I just wanted to if my buying price is a fair value. Any suggestions?
The property is about 8-10 years old and is located in a suburban CBD, very close to the train station. I have checked the median price for that area on http://www.homepriceguide.com.au and our purchase price is lower than the median price. Not sure if that makes any sense.
It's a 2 bedroom unit, 1 bathroom, 1 garage, security building with lifts and intercom. The area is about 70 sq m.
I just wanted to if my buying price is a fair value. Any suggestions?