A property valuation is one of the most crucial services for owners, investors, and sellers of real estate. A valuation report will outline the existing market value of the property.
Knowing the market value of a property can help individuals make informed decisions going forward. Valuation reports in Victoria are prepared by Certified Practising Valuers (CPV) registered with the Australian Property Institute (API). The API is a governing board overseeing thousands of property professionals in the country.
Getting an independent valuation of your home is the most reliable way to find out where it stands in the existing market. You’ll want to make sure you’re prepared before getting a valuation to ensure your home’s value is maximised. A valuation can also be prepared retrospectively based on the market conditions of a specified date in the past.
Many seem to underestimate the importance of cleaning a home before a valuation. There are many benefits to keeping your home in a good state.
Valuers are trained to prepare meticulous property valuation reports and have to meet rigorous international valuation standards. The detailed reports are accepted as conclusive proof of market value; it is legally-recognised and accepted in courts across the country.
Why should I clean my home before a valuation?
Does a messy house affect valuation? A clean home is not necessarily going to boost the value of your property directly, but there are benefits. As valuers aim to prepare reports that are both detailed and precise, they prefer little distraction.
A valuer who has to look past the clutter, dirt, or general lack of cleanliness in a home may have a difficult time staying focused on reviewing the property. Going through the necessary steps to clean your home can make a valuers job that much easier when examining your residence.
Some of the ways you can get your home ready include:
- Cleaning and wiping all surfaces, floors and walls.
- Getting rid of any visible rubble, dirt or junk.
- Declutter rooms and maximise the usable space.
- Mow the lawn and neaten the front of your home.
- Deep clean skirting boards, cupboards, taps and more.
- Put effort into making the bathroom and kitchen stand out.
A clean home ultimately leads to a smoother valuation process that allows the valuer to place their focus on the key factors affecting its worth.
The benefits of a high valuation
Getting a valuation report that highlights a strong market value can be hugely beneficial. As the valuation report is seen as definitive proof of value, it can serve as a foundational point for legal, private and business negotiations and transactions.
A few of the main advantages of getting a positive home valuation report:
Higher selling price
The report can serve as valuable pre-sale guidance for owners considering selling. A high valuation will ultimately lead to a satisfactory selling price for many.
Attractive to investors
A high market value will naturally make your property more attractive to investors as they seek to find properties that they can get a profitable return.
Improved property management
A valuation report will give you key insight into the strengths and weaknesses of a property and help you make informed decisions going forward.
Improved chance of getting a loan
The value of a property plays a key role in loan applications. Financial lenders will consider the loan-to-value ratio before deciding on whether to approve a loan.
Better decision making
If you are unaware of just how much your property is worth, you may end up making ill-informed decisions. Underestimating the market value of your home is a crucial mistake that may have lasting consequences.
Conclusion
An independent property valuation is the most trusted method of finding the market value of a home. These reports are prepared by qualified experts with vast experience overseeing meticulous valuation services.
Only Certified Practising Valuers who are registered with the Australian Property can prepare reliable independent valuation reports.
Keeping your home clean and taking time to prepare for a valuation can help you maximise the value of your property.
While a messy home won’t directly decrease the value of your house, it serves as a notable distraction for the valuer and may lead to a more prolonged process. Valuers may end up missing key features.
There are many benefits to getting a positive valuation report. A property with a high market value is attractive to investors and may fetch a higher selling price. Valuation reports also allow for improved property management and better decision-making in general.
If you would like to learn more about property valuations and the importance of keeping your home clean, give us a call and speak to one of our qualified specialists.
