If you are about to buy or even sell real estate in Australia, it is time to get a property valuation. This is the right time to find out the exact worth of your property. If you are a buyer and you want to obtain mortgage, your bank or lending company will require report on property valuation.
So what is property valuation services exactly? It is a trained and educated opinion on the exact worth of your property. It can ascertain the best use of your property and its bestselling price as well.
Valuers are the people who performs property valuation. They look for things in the property that can be replaced, corrected or repaired. He is going to be interested in developing your property’s value. It is based on the best and the highest use of the real property i.e. what is the highest possible value of your property. Valuation differs from appraisal. Appraisal is all about guesswork but property valuation can tell you the exact worth of your place.
Key attributes that are considered while performing property valuation include:
- The architectural style of your place
- Its topography, aspect and layout
- Condition of the house
- Size of the land
- The public transport facility, schools, shops and other amenities nearby
- Number of bedrooms, bathrooms and even the size of the kitchen
- Any renovations or improvements made
- Size of the residence
The valuer is going to take a look at every tiny detail of the property to tell is worth. The inspection is going to be objective and it is not just the interior or exterior of the house that he is going to inspect, he will also inspect the surrounding areas. Starting from the condition of the home, the layout, the location, construction quality, amenities available around, the recent renovations, just about everything is considered by the valuer.
Even if any property in your neighborhood has been sold recently, you can get your property valuated to find out what is its worth. The valuer is going to walk from the front door to the back door of the house just to take a close look at the fixtures, fittings and quality of the finish of the house. The natural lights, designs, layout, quality of carpets and even the clutter around or inside the house are considered so you cannot hide anything from the eyes of these professional people.
Once the valuer has gathered all the information he needs, he will perform some calculations and then he will create a report about the worth of your house. The valuation will let you find the purchase price of your property and then you can quote this price to sell it or obtain mortgage. This valuation will help you know what exactly you are going to get when you will sell your house. Then later you can decide whether you want to work on some home improvement projects or not. This valuation will pay you off well even if you don’t have any intentions about selling your property.