What Does A Property Valuer Need To Make An Accurate Valuation?

Investing in real estate can be very lucrative. Whether you intend to buy a property or to sell one, getting an accurate valuation will help you decide whether or not you are making a good decision. Property Point is a licensed independent valuer in NSW and we perform property valuations for refinancing and any other transactions that require an accurate valuation of a property. If you need an accurate valuation done in NSW, give us a ring. To come up with the most accurate value of a property below is the information that a valuer will need.

1. Sales Comparables
To get an accurate value, your property valuer will do some in-depth research into how much similar properties in your area sold. Usually, three or four comparable properties will be used to come up with an accurate value. Because no two properties are exactly the same, some adjustments will be made so that the value of your property is the correct representation of what its value is
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2. Property Details
Information concerning a property can be divided into two categories. The first is information about the infrastructure in the property and the second is information concerning is the building structure. Examples of the infrastructure of a property include heating and ventilation facilities, plumbing and water supply structures, electric wiring of the property, and safety measures of the property. If all the infrastructure is in good working condition, this will attract a higher valuation. Examples of what a valuer will look at when they need information on the building itself include the number of rooms in the building, the state of the walls, any roof leaks, and whether or not there are other amenities on the property such as a swimming pool or a garage. If you have more rooms in a home or if the adjuncts of the property are impressive, this too will attract a higher property valuation.

3. Additional Information
To complete the valuation, additional information will be required. Environmental issues that are associated with the location of a property will also be factored in. For example, homes that a next to a busy highway may not get a very good valuation because of noise pollution. Homes that are located in places where many natural disasters such as tsunamis, earthquakes, or floods also get a lower valuation. After all, is said and done, the decision of whether to sell or lease is a very personal one. At Property Point, we have a fully qualified team of property valuation experts that can make this process much easier for you. Contact us today!