The Top Considerations Relating To Residential Property Valuations

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Ideally, you want to get an attractive property valuation but to do so you need to have the place in the best possible condition to make a solid impression. There are also a few preparations that you can do beforehand and a few useful measures to incorporate if you want to make a good impression on the valuer.

  1. Make sure the place is tidy and clean

Having the interior and exterior of your property in tiptop shape will leave a lasting impression and show off the property’s full potential.

  1. Make sure all the areas are accessible

The valuer needs to have access to all the rooms and spaces to do a proper valuation and do the necessary measurements. Make sure all areas are easily accessible.

  1. Have the relevant documentation ready

If you have copies of your property’s building plans, ensure that you have a copy ready for the valuer to speed up the process. The valuation company may request copies of documentation such as rates notices, so make sure you are prepared.

  1. Be realistic and honest when dealing with the valuer

A certified valuer will establish the correct value of your property, so there is no need for you to exaggerate the value. The valuer will assess the property and compare it with values of properties in your area and look at market prices to give you an accurate valuation.

  1. Attributes that will boost your valuation

When property valuations are done, the following factors can impact the review:

  • The architectural style of the property.
  • Topography and layout of the block your property is situated at.
  • Overall condition.
  • Size of your land.
  • If the property is located close to schools, amenities, shops and public transport.
  • The number of rooms, bathrooms, bedrooms and the size of your kitchen.
  • Development or renovation potential.
  • The layout and size of the property.

What are the main methods used by valuers to do a valuation of your property?

Direct Comparison

This method is done by obtaining data on recent sale prices of similar homes that were sold in the past six months and comparing them to your property. The compared prices are used to determine an estimate with a few adjustments made to accommodate additional or fewer features that your property has.

Summation Method

With this method, the valuer will add the land value to the land renovations (house, pool, pergola, decking and swimming pool) to determine the value of your property.

The value of the renovations will include aspects such as style, age, overall appearance and architectural features.

A certified valuation company will use these methods together with the years of expertise they have in the field as well as appropriate skills, to work out the valuation figure.

How long will a valuation take?

It is safe to make provision for half an hour to an hour, depending on the size of your property and whether all areas are easily accessible. When you take these helpful tips at heart and do the preparations beforehand, it can significantly speed up the process.

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