Hi All
Looking for a 101 on:
Purpose of this thread, we're looking at revaluing our property but we're now questioning whether it is worth revaluing as it may not be worth it.
A property in our complex (2BDRM) sold for $460k the other day, and we purchased our (3BDRM) 6 months ago for $450k - should we expect our property to be valued at much higher than $460k because that property's sale would boost our property's market value and our property is bigger? Or if our property and the property sold the other day, sold for much more than what they should have, we may still receive a valuation for similar to what we paid?
We paid for a QV e-valuation on the weekend which valued our property at similar to what we paid for it (and from what we gather, was a similar e-valuation based on what a property coach valued our property at 2 months ago before the other property in our complex recently sold) - are these valuations very indicative? The current E-valuation doesn't appear to have taken into account the property recently sold in our complex from what we can gather.
Do carpets, showers, vanities, paint job all affect valuation? I would feel, even if they don't add value to your house based on expenditure in these areas, the newness/appearance of these aspects would improve the valuers perceptions of the property thus leading to a higher valuation?
Any advice in this area is appreciated
Looking for a 101 on:
- Property valuations and what to consider before revaluing
- The process of revaluaing a property, what to and dealing with the bank, and
- The value of purchasing a QV e-valuer - if a price band of the e-valuer is $390k-$490k, how indicative is this? Does a valuer read into these sorts of stats and do they affect our valuation?
Purpose of this thread, we're looking at revaluing our property but we're now questioning whether it is worth revaluing as it may not be worth it.
A property in our complex (2BDRM) sold for $460k the other day, and we purchased our (3BDRM) 6 months ago for $450k - should we expect our property to be valued at much higher than $460k because that property's sale would boost our property's market value and our property is bigger? Or if our property and the property sold the other day, sold for much more than what they should have, we may still receive a valuation for similar to what we paid?
We paid for a QV e-valuation on the weekend which valued our property at similar to what we paid for it (and from what we gather, was a similar e-valuation based on what a property coach valued our property at 2 months ago before the other property in our complex recently sold) - are these valuations very indicative? The current E-valuation doesn't appear to have taken into account the property recently sold in our complex from what we can gather.
Do carpets, showers, vanities, paint job all affect valuation? I would feel, even if they don't add value to your house based on expenditure in these areas, the newness/appearance of these aspects would improve the valuers perceptions of the property thus leading to a higher valuation?
Any advice in this area is appreciated
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