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The secret to a great property valuation

Whether it is to change your loan to a more competitive product or borrow extra funds for renovations, we are currently seeing more and more people refinancing their mortgage. With every refinance there is a need for a fresh valuation of your property. Here are some tips to home owners on how to maximize your property valuation.

Essentially, the valuation of your home will largely depend on your choice of property in the first place and what the market is doing around the time you’re looking to sell. However there are ways to improve your home and ensure you get the best valuation on the day.

First impressions count for a lot! One of the most important things you can do in the lead up to a valuation is make sure the house is well presented. This includes mowing the lawns, making the gardens look nice and de-cluttering the house. You should also ensure that any repairs that need to be made are done prior to the inspection. If you want to go one step further you could give your house a fresh coast of paint.

If you want to be really helpful you might like to know the sale prices achieved at any recent property sale in your area, and have this information available for the property valuer. Your local real estate agent can be a useful resource here. Additionally, some valuers like to see a copy of your council rates, as they contain information reflecting the land value.

Honesty is also another important mediating factor; those people who are honest and upfront are generally looked upon more favorably by the valuer. If you are planning to renovate, it is crucial that the valuer is provided with quotes and costings of these improvements. Also make it clear that you want the valuation done as if the improvements were complete.

If you do decide to renovate it might be handy to focus on the areas that are most likely to increase the value of your home, for example outdoor areas, the kitchen and bathrooms. However, it is important that you do not overcapitalize on a particular improvement, for example putting on a large extension will increase a home’s value, but it may not increase the same amount it cost to renovate.

Finally when the valuer arrives don’t follow them around the house pointing out all the great features of your home; be patient and don’t ask the valuer what they think the house is worth as soon as they’re leaving. Once the valuer is on your door stop, its out of your hands, so for optimal results, make your house look immaculate and have any information on hand that might support your case, and leave the valuing up to the experts.