How Is Property Valuation Done? Things A Valuer Looks For In A Property

A property valuation is a report that is written by an accredited and registered valuer. This report is used by mortgage lenders to ensure that a property can be used as security for a loan. It can also be used by your real estate agent to determine the sale value of the home. For this reason, valuations are very detailed and take many features of the property into account.
Below are the top things that valuers look for when they are inspecting a home before they come up with a valuation for a property.

1. The size of the Property

In general, the bigger the property size, the better the valuation. Floor space, in particular, matters. So, if you want to increase the value of your property you can renovate and extend it so that you increase the floor space which will improve the valuation of your property. The space that is available outside also matters. This is not always under your control but making the most of your garden by effective landscaping can make a big difference.

2. The Property layout and Presentation

A well-maintained property will have a better valuation than one that is in a state of disrepair. When preparing for your valuation, take the time to work on what the property looks like. The lawn must be mowed and any and all clutter must be removed. You want to put your best foot forward during the valuation. You may need to move around some furniture in a way that highlights the features of your home.

3. The number of Bedrooms and Bathrooms

The more bedrooms that your property has, the more it is worth generally. One thing that some people are not aware of is just how much the number of bathrooms contributes to the valuation of a house. Having five bedrooms with only one bathroom negatively affects the property value so when you are renovating your home, you should consider adding more bathrooms as well.

4. Other Important features

The valuer will not only look at the property itself. The proximity of amenities such as shopping centers, schools, public transport, and hospitals also matters. If you are mid-renovation, it is better that you wait until it is finished before you decide to get the valuation done to maximise the result.

At Property Point we specialise in commercial and residential properties. We have a fully qualified team of industry experts that can make this process much easier for you. Contact us today!