Hi everyone, I bought a residential property in South Auckland about 1 1/2 years ago. It is a 3 Brm house with a large fully fenced section (over 1200 sq m), subdividable and is currently rented out for 350 pw. Since purchasing the property I have had it insulated, underfloor and roof, and had a heat pump installed. I've also installed a garden shed and a front gate.
I have been told by property agents that the price of the property has risen considerably since bought it (I managed to buy it very cheaply). I had an idea that I would get it revalued and use the extra equity to purchase another property.
The trouble is that a property valuer who I have rung has given me an indication that he would probably value it far less than what I was told (which was around 330,000). I dont want to spend 500 bucks on a valuation only to have it come far less than than expected and hence useless for my scheme.
Any help and advice would be appreciated. Thanks
I have been told by property agents that the price of the property has risen considerably since bought it (I managed to buy it very cheaply). I had an idea that I would get it revalued and use the extra equity to purchase another property.
The trouble is that a property valuer who I have rung has given me an indication that he would probably value it far less than what I was told (which was around 330,000). I dont want to spend 500 bucks on a valuation only to have it come far less than than expected and hence useless for my scheme.
Any help and advice would be appreciated. Thanks
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