The benefits of having your house re-valued every 6 months
We visted you around six months ago and unless we missed something you haven't come to market yet! This article goes through some of the reasons why its wise to get an up to date valuation.
The market can change quickly
The valuation you had 6 months ago is likely to be inaccurate by now as the market could well have changed dramatically. If you are planning on moving, or want to know the up to date information to make an informed decision, it’s time to get in touch and book another valuation with us.
To build equity
The beginning of a new financial year is a good time to get a revaluation done on your properties. If you haven’t had a valuation done for a while, you may find the increase in the value of your property has created enough equity for a deposit on another property. I’m by no means suggesting you leverage yourself to the hilt, but it is useful to know how much equity you have, particularly if you were thinking of buying an investment propery.
Are you considering some major renovations?
If you are, it’s also a good idea to get a property valuation to work out whether or not you might be over capitalising. If you find a good valuer or estate agent, they should also be able to tell what kind of additions will add value to properties in your area, rather than take it away.
Making renovations to your place because it’s something you really want – like a walk-in wardrobe - is all well and good, but it doesn't hurt to keep in mind the potential resale value of your property. Making a walk in wardrobe out of a third bedroom could detract, rather than add, to the value of your property if you live in an area where demographics are weighted towards families.
Re-Mortgaging your property
A preliminary valuation can help you work out what percentage of your property you own, and whether you can get a better deal. If your mortgage is up for renewal, you should definitely know the value of your home to give to them and negotiate a good price. They will double-check the value, so ensure you get a professional who will give you an accurate one.
If you are looking for an up to date valuation click here for our valuation options.