There are times when you may need your house to be valued by a certified professional who conducts a thorough investigation and review of your property’s position. You may be planning to sell or refinance your home or need the property’s value as part of a legal settlement.
Valuations help establish a fair price based on the best possible use or the actual use of your property. Qualified valuers can value your property based on the structure, the number of bedrooms and bathrooms etc., the land it stands on and any improvements made to the house. Along with the physical property, the valuer also considers rental value, recent sales and market value of similar properties in the area.
What do valuers look at?
You’ll want to get a good valuation for your house, so it’s a good idea to know what valuers consider during the valuation process. Each valuer may have a different way of doing things, but in general, they’ll look at everything when they inspect your house. They’ll also do research online to get as much information as possible.
The best way to mentally prepare for a house valuation is to be mindful of what valuers consider while creating their reports. This will likely include:
- The location and views visible from the house;
- The size, age, condition, construction type of the structure;
- Any improvements or renovations made on the structure;
- Fittings and fixtures;
- Zoning laws and constraints on the use of the land;
- Heritage value;
- Use and types of the properties around your house; and
- The best possible use of your property.
Essential tips on preparing your home for an appraisal
A house valuation can seem like a complicated process, but here are some pointers that can help with preparing your house for an appraisal:
Keep the house clean
First impressions matter, and having a clean and tidy house during the inspection by the valuer helps. It’s extremely important to keep your kitchen and bathroom clean as valuers pay special attention to these areas during an inspection. This rule also applies to the exteriors of your house.
Provide full access to the house
Providing the valuer with full access to your home allows you to showcase its true value. It also helps the valuer with completing their valuation report. If it’s not possible to provide full access due to construction or repairs, please let the valuer know before they arrive.
Complete all essential repairs beforehand
Repairs tend to be expensive and time-consuming but are important. All essential repairs in your home must be completed beforehand to avoid negatively impacting the valuation. Essential repairs are those that:
- help maintain the structural integrity of the house; and
- make the house habitable.
Keep documentation ready
It’s possible that the valuer may need additional documents for their report. This could include the Contract of Sale, Certificate of Title, building plans and even an appraisal by a market agent. Keep them handy and ready to pass onto the valuer if they ask.
Please take care of any pest infestation at the home before it gets out of hand. This is because any infestation or pest issues would be considered an adverse risk from a valuation perspective.
Keep your pets safe
To make the valuation process smooth for your pets and the valuer, please consider isolating your pet in a separate part of the house that is safe and secure. This should be done to avoid a situation where your pets are accidentally let out of the house, which could put them in harm’s way. It may also be polite to let the valuer know you have pets before they arrive in case they have any concerns.
Other things to consider
Do your own research about market trends and sales in your area. This will give you a slight indication of what your house may be worth. You can then communicate this information to the valuer so that they may make a note of it. If you have a swimming pool attached to your home, please make sure that it is well-maintained and operational or let the valuer know of any issues. Additional security measures such as security alarms or cameras also add value to your home.