3 Basic Tips To Increase Value During Property Valuation – Our Guide

One of the steps necessary when purchasing insurance, computing for tax payments, or when selling a property is to perform a property valuation. The first step to selling something off would be to know the price range you’re willing to sell something off – merely giving a random value could lead to values too high to sell or too low to make a profit.

While many believe that property values are set and only degrade over time, the truth is that numerous methods can be implemented in order to raise and maintain the price. By knowing some of these basic ways, you won’t only get yourself a good deal during negotiations, you can also get more profit from your property investment.

Here are three tips to take note of and follow in order to raise the value during property valuation.

Take note of the market price around your area

While no two properties are the same, finding a bit about the local property market can help you get a ballpark range of prices. By knowing the sales prices of properties around your area, you can use this to compare your lot and property and to get a better estimate.

This piece of information is even more valuable if the property is extremely similar to your own. For example, looking at properties with the same number of bedrooms, bathrooms and land size. If you want to take it that step further, you can get an average of the prices by attending auctions and speaking with local property agents.

Add some property improvements to your lot

Another important consideration in property valuation would be the number of improvements done on a property. It can be as simple as adding outdoor facilities, renewing the plumbing system, providing more safety and security features, or even simple all-around maintenance. These “added” expenses help keep the property’s market value on a stable level, even possibly bumping it up a couple of notches.

Pro-tip: When making improvements or doing maintenance, list everything about it, down to the date, the total price quotation, and the exact process being done to the property. This way, you can show it to a property valuation service when they survey your house.

Fix your presentation

A large chunk of your property value is determined by the lot size and existing structure but there are some minor things you can make to improve its price and saleability. One of the most important things to remember is to refurbish the property’s image.

While cleaning a property up and making it more aesthetically pleasing may not impact the price as much, it will increase the chances that a potential buyer would like it at first sight. This does not only include basic cleaning and beautification, having newer appliances and amenities can entice a buyer more than an older, messy lot of the same price range.

Conclusion

Independent property valuation is a much-needed step to make before making any big decisions about a residential or commercial property you own. The long term effects of improvements and maintenance directly affect your property value, so factoring these things even if your property is new allows you to better maintain it in the long run.

If you need your property to be surveyed and independently assessed for any reason, then a property valuation service is what you’re looking for. Get in touch with us and have your property valued today!