How to Track Your Home Value in Financio

For most Australians, their home is their largest asset. Yet many people have no idea what their property is actually worth today—they remember what they paid for it years ago and leave it at that. Tracking your home's value in Financio gives you a clearer picture of your net worth and helps you understand how your wealth is growing.

Why Track Your Home Value?

Your home's value changes over time. Property markets fluctuate, renovations add value, and inflation pushes prices up. Without tracking these changes, your net worth calculation is based on outdated information.

Tracking your home value helps you:

• See accurate net worth — Your property is likely a significant portion of your wealth
• Monitor equity growth — Understand how much of your home you actually own
• Make informed decisions — Know your position before refinancing or selling
• Track renovation ROI — See if improvements are reflected in value

Adding Your Property

1. Go to Accounts and click Add Account
2. Select Asset
3. Choose Property as the asset type
4. Enter your property details:
   • Name — Your address or a nickname (e.g., "123 Smith Street" or "Family Home")
   • Description — Optional notes about the property
   • Initial Value — What the property was worth when you start tracking
   • Date — When that valuation was accurate
5. Upload a photo if you'd like
6. Click Save

For the initial value, you can use:

• Your purchase price (if recent)
• Your last bank valuation
• An estimate from property sites like Domain or realestate.com.au
• A formal valuation if you've had one done

Linking to Your Mortgage

If you have a home loan, link it to your property to see:

• Equity — Property value minus loan balance
• LVR (Loan-to-Value Ratio) — What percentage of your home is mortgaged

To link them:

1. Go to your home loan account
2. Click Edit
3. Select your property in the "Linked Property" section
4. Save

Now when you view your property, you'll see your equity position at a glance.

Updating Your Property Value

Property values should be updated periodically. Annual updates are usually sufficient unless you've done major renovations or the market has moved significantly.

Manual Update

1. Open your property from the Accounts page
2. Click Update Value
3. Enter the new value and date
4. Add a note explaining the source (e.g., "CoreLogic estimate" or "Bank valuation")
5. Save

Using the Growth Estimator

If you don't have a specific valuation, Financio can estimate based on annual growth. This is useful when you know your local market has grown by roughly X% per year.

1. Click Update Value
2. Expand the "Estimate based on annual growth" section
3. Enter an annual growth rate (e.g., 5 for 5% growth)
4. The value calculates automatically using compound growth
5. Adjust if needed, then save

For example, if your property was worth $800,000 a year ago and you estimate 5% growth:

• Financio calculates: $800,000 × 1.05 = $840,000

If it's been multiple years since your last update, Financio creates intermediate valuations every 12 months. This gives you a smooth growth curve on your chart rather than one big jump.

Reading the Performance Chart

Your property's value history is displayed as a chart showing:

• Value over time — How your property's worth has changed
• Total gain/loss — In dollars and percentage
• Time periods — View 1 month, 3 months, 1 year, 5 years, or all time

The chart turns green when your property has appreciated and red if it's depreciated for the selected period.

Where to Find Property Values

Getting an accurate property value can be tricky. Here are some sources:

Free Estimates

• Domain.com.au — Property estimates based on comparable sales
• Realestate.com.au — Similar estimate tool
• Your bank — Many banks show estimated property values in their apps

Paid Valuations

• CoreLogic — Detailed property reports from $30-50
• Formal valuation — A licensed valuer inspects your property (required for some refinancing)

DIY Research

• Look at recent sales of similar properties in your suburb
• Check what comparable homes are listed for
• Consider differences in land size, bedrooms, and condition

Tracking Multiple Properties

If you own investment properties, add each as a separate asset:

1. Create an asset for each property
2. Link each to its corresponding loan (if mortgaged)
3. Update values independently

Your Net Worth report combines all properties, giving you a total real estate position.

What About Renovations?

When you complete renovations, you have two options:

Option 1: Update the value immediately If you believe the renovation has increased your property's value, add a new valuation reflecting the uplift.

Option 2: Wait for market confirmation Add a valuation at your next regular update, which will capture both market movement and renovation value.

Either way, use the notes field to record what changed (e.g., "New kitchen completed" or "Added granny flat").

A Complete Picture

Tracking your home value is just one part of a complete financial picture. In Financio, your property sits alongside:

• Your mortgage (showing equity)
• Your offset account (if linked to your loan)
• Your other assets and accounts

Together, they give you an accurate view of your net worth—not a guess based on what you paid years ago.

Take 5 minutes today to add your property to Financio. Future you will appreciate having that history when you need it.