A couple of weeks ago, we explained why these cold Winter months are the perfect opportunity to land a price for your property you wouldn’t fetch at any other time of the year:
But we then we realised it might be putting the cart before the horse to share this with you, without first giving you an idea of what your property is worth to begin with. So-
Today we help you get clear on how much your property is really worth, via a number of sources:
According to the Australian Property Institute, a Certified Practising Valuer is somebody with the training, education and experience that qualifies them to perform a property valuation. A competent valuer has a good knowledge of a particular area and they start by searching for completed sales of comparable properties. With market conditions that constantly fluctuate, these sales need to be transactions conducted fairly recently (i.e within the previous 6 months)
Top Tips For Engaging A Valuer:
Presentation is key: Make sure your gardens are looking nice and tidy and clear up the clutter throughout your house. Even with valuers, first impressions count.
Recent sales evidence: If you know what price a property in your area recently achieved, have that information on-hand for your valuer to take a look at.
Clear Instructions: If you have plans for future improvements with quotes and costings and you’re going with a lender, make sure the lender requests an “as if complete” valuation.
Don’t Overcapitalise: Improvements and renovations ad value, no surprises there. But at the same time, you’ve got to be careful you don’t overcapitalise and spend more on a particular renovation than that area can cope with.
Shoot Straight: Honesty is your best policy here. Somebody might claim a neighbouring property sold for $500,000, but the valuer might have evidence on hand that it sold for $50,000 less. A valuer can see right through the smoke and mirrors.