26 November 2019

5 Tips For Maximising Your Property’s Valuation

Whether you’re refinancing, adding an extension, or have just sold your home and the Valuer is coming to visit, it’s worth going to a little extra trouble to ensure the Valuation figure is maximized.

Certainly there are some key aspects that you are unable to change such as location, age and the size of the property. However there are plenty of others that you can definitely influence.

1 . Property presentation.

Treat the Valuer’s visit as though you were preparing for an ‘open house’ inspection. Clean up the garden, mow the lawn, give the exterior a clean and repair anything that is obviously broken like fence palings.

Give the inside a thorough clean and de – clutter paying special attention to ‘high value’ areas like the kitchen and bathroom. You only get one chance at a first impression and if the property looks well maintained, you’re likely to receive a better valuation.

2. Provide a list of property features

Providing the Valuer with a list of useful property features will not only make their task much easier, but is an opportunity to highlight those valuable items that may not be immediately obvious – such as new electrical wiring, new plumbing, new roof, solar panels, or underfloor heating.

If you’ve carried out any renovation works to the property, a list of when and what will also be of importance to the Valuer. If necessary, provide them with some drawings of the work that was carried out. If you’re aware of any new development for the area – such as a new kid’s playground on your street, or plans for a new shopping centre nearby, let the Valuer know.

3. Showcase your home

If it’s a hot day turn on the air conditioning, maybe have the pool filter and spa running. This doesn’t just show the valuer that everything is in working order, it also showcases everything the place has to offer.

4. Leave them to do their job.

Following the Valuer around your home is only going to annoy them. Once you’ve given them your list of property features, it’s best to leave them alone to do their job so they can focus and complete their inspection within their desired time frame. Valuers tend to have back to back appointments when out in the field and slowing them down will make them late for their next one. And if you have a dog, keeping it secure during the inspection will make life much easier for everyone!

5. Share your plans with the valuer

If you’re increasing or refinancing your home loan to complete some renovations, explain the proposed project to the Valuer, and provide copies of architectural or building plans. The Valuer will normally assign an ‘as is’ value to your property while the lender may want an idea of the property’s likely value on completion of renovations. Providing plans gives the Valuer another piece of the jigsaw.

We hope you found these tips useful for when the Valuer comes to visit!