TazR
06-11-2009, 07:42 PM
I want to find out what the realistic value of my land would be if I demolished the house and sold the vacant block. The reason I ask is because the house recently got severely damaged by fire and I am considering accetping an insurance payout and selling the block rather than getting the house repaired. The rateable uninproved value on my rates notice is far less than what people are asking for similar vacant blocks in the area. The council valuation is 220k, however similar blocks in the are are asking of the order of 350-400k. My question really is what should I be going by? The value on my rates notice? Or can I believe the prices people are asking for are actually close to what they sell for?
The house is in Brisbane, approx 8km from the city, and 625 sqm.
Any opinions appreciated.
The house is in Brisbane, approx 8km from the city, and 625 sqm.
Any opinions appreciated.