Simple tips to increase your property valuation
Valuations can be a vital part of determining your borrowing capacity. Which is why if you are looking to finance additional properties for your portfolio doing the following is a must:
First impressions count so mow the grass, tidy the garden and give the outside a fresh coat of paint so the property has instant curb appeal . Inside make sure there is little mess or clutter (no clothes lying around or dirty dishes in the sink), everything is clean and there is a pleasant smell.
Be truthful and polite
Remember that most valuers have been doing their job for a long time and have heard every trick in the book from owners trying to add an extra dollar onto their assessment. Don’t give them a reason to be cautious about you and have second thoughts on the property. Be friendly, offer them a drink and let them do their job without you shadowing their every move. Do this and there is a greater chance they will look favourably towards you.
Keep a list of any improvements you have made to the property since the last evaluation. Even better if you have the receipt or invoice to show the valuer. As valuations are decided by how the property is that day, any plans that you haven’t started will not be factored into the final price.
Show off the best features
Try and emphasise any big selling points that sets the property apart. For example, cut or trim any foliage that may be impeding a great view. Other than that, kitchens and bathrooms are often said to be the most important rooms in the house. Pay extra attention to these and keep them clean or perhaps add some flowers to liven them up. An outdoor area can also add a lot of value so even if you haven’t utilised it purchase some cheap furniture so they can envision themselves there.
Evidence of recent sales
Although they may already know this information, valuers find recent sales very useful and will appreciate the effort. Put together 3 or 4 comparable properties that have sold locally in the past six months.
Don’t miss out on an investment opportunity, it’s the small things that can make a big difference.
Our team at Finance Detective can arrange a valuation for you, call us on (08) 9289 7777.