What is the HomesEstimate?
The HomesEstimate valuation is our estimated market value, computed using a proprietary formula. It is not a formal valuation. It is a starting point in determining a home's value. The HomesEstimate is calculated from data available to homes.co.nz, this can include multiple sources.
For a formal market appraisal, your real estate agent or valuer physically inspects the home and takes special features, location and market conditions into account. We encourage buyers, sellers and homeowners to supplement HomesEstimates by doing other research such as:
-
Getting a comparative market analysis (CMA) from a real estate agent
-
Getting a formal valuation report from a professional property valuer
-
Visiting the house (whenever possible)
-
Getting a building inspection carried out
-
Obtaining the local council Land Information Memorandum (LIM) report
​