Category Archives: Property Valuations

Ways to add color to your rental home

Buying a home becoming an owner is everyone’s dream. But to fulfill this dream is tough for many because it needs huge money to buy a home and many can’t afford to own a home. So the option that eventually comes in their mind is renting. Yes, they pay the monthly rental amount to live in their home. But living in a rental home comes with many restrictions as you can’t design or reconstruct it as per your need and want. Even you can’t paint your rental home according to the color of your choice. As overall it’s landlord’s property. But here is the good news for those who love colors and like to live in a place full of hues. You can add shades to your rental house without painting the walls (as it is not allowed to tenants). You can also take advice from home valuers as they know how to make home impressive.

Here are ways to add color to your rental home –

Use of colorful bed sheets, sofa covers, curtains, and pillows – The best way to add colors to your home on a temporary basis and which is affordable too is buying a bright and colorful sofa and bed covers. Choosing bright and happy colors helps you to keep your mood fresh and energetic. Beautiful curtains with nice designs hold the power to add a new flavor to your home. You can mix and match the pillows with bright and light color to give it an all-new and impressive look.

Arts and paintings – Not allowed to paint your wall no issues. Hang the oversized or small sized paintings with bright colors exhibiting the kind of art you love. Say classy, modern painting, posters. Choose the one which you like the most, hanging paintings on the walls can add color to your home is an effortless yet effective way.

Add color to your floor – Now living in a rental home will be more excited when you add color to your floor. Yes, you can bring carpets, rugs of vibrant colors for every room of your home. The best thing about these carpets and rugs is they come in all sizes, colors, and materials. You can bring the one which you like. Thus it is the coolest way to add colors to your floor.

Bring shrubs and home plants to your home – Choose the small plants with colorful flowers and shrubs for your home. Place them in the corner of your living room, balcony, or small terrace, it is a great way to add color to your home. Keeping plants inside the home keeps the air fresh and environment clean. Thus you can add color and health both to your life and home. Terrace garden and kitchen garden is a new way to grow and get fresh vegetables at your home.

Paint your furniture – If you have your own dining tables, center table, chairs then you can use your creative on it well. You can paint your chairs, tables with different colors to give them a new look.

Adapting these ways can help you to add colors to your rental home. For best home valuation services you can contact us. We have a team of expert home valuers.

While downsizing avoid these few pitfalls

Downsizing is a big decision as you are moving from your own big home to a small one. You not only shifting your belongings to a new home but also your emotions which is a tough task. Your reason for downsizing can be many – you want to relocate, to cut your expenses, your children have left the home and you feel your home is too big now, you can’t afford the maintenance of big home thus you come at the decision of downsizing. To sell the old and to buy the new one you must know the value of the homes for which you can hire a home valuer to know the exact market values of the home.

But its not that easy first, you have to find a suitable home in the location where you can live comfortably and then you have to make some financial calculations where a new home is capable enough to fulfill your purpose of downsizing or not. So here we have listed down the mistakes one should not make while opting the downsizing as an option.

1. Be clear and calculative – People usually have an idea that small home means small expenses. But sometimes we fail to calculate the expenses that small home brings which leads to hurt our expectations. It’s right homeowners can save on utility bills if they own a small home but people forget to calculate the other expenses like property tax of the new home in a new area, the maintenance cost of new home etc. It’s advisable to calculate the expenses accurately so you can plan your finance well.

2. Cancel your old services – As you are moving to a new home remember to disconnect your services like utilities, phone lines, internet, property tax, and all facilities. Otherwise, you have to pay the bills even later which you haven’t used. So to keep your budget in balance make sure to redirect or disconnect the services or utilities you were availing.

3. Buy prudently – It’s good to be organized but it’s not appreciable to buy the unnecessary product or things for storage or for a new home in the mood of excitement.
It very crucial to buy the new storage containers and furniture of your new home with accurate dimension otherwise it will be of no use and don’t forget you are moving to a small home so keep those belonging only which are necessary and vital. It’s very important to declutter the things which are of no use. Know the right measurement of your new home before buying new furniture and containers.

4. Start your preparation – It’s not last minute preparation can help you to move your home. Don’t forget you are shifting in a small size home you can’t keep your all belongings there as the way you keep in your current home. So it’s advisable if you have finalized your decision of doing so try to start your preparation before a month so you can remove the things which are no use and thus you can carry the right belongings with you. You can prepare moving-house checklist to make yourself organized.

5. Be happy – We know it’s tough to leave a home where you had created so many cherishable memories. Remember you have a purpose to leave this home. So try to make your mind and get excited about the new home. While packing the things and belongings try to keep your emotions aside otherwise you can’t be able to pack your things on time. Chuck out the things that are of no use. Don’t clutter the waste. Recall, your new home is a small one.

These are the sure-shot tips to remember while downsizing your home. You can take suggestions from the home valuer regarding the property related decisions or for home valuation services.

Feel free to contact us for the best home valuation services. We have a team of expert home valuers who can find the right value of a home.

Know how much money is required to renovate a home and apartment

Renovation of a property is made with various points of view and with different expectations too. Some want to increase the value of the property, some want to extend the carpet area, some have desires to make it aesthetically appealing.

Your amount of money spends on renovation completely depends upon the reason for renovation. If you are doing for your own just to increase the look and feel of the property then it is completely fine but as a home flipper or an investor if you are renovating to increase the value of the property then you have to think about the budget first.

Know the property value first and then decide – Hire a property valuer for property valuation services and know the exact value of your property before the renovation. As property valuer suggests to spend the 6 to 9 percent of the property value on the renovation.

For example – If your house worth is $6,00,000 then you should spend 6 to 9 percent of it. That is $36,000 to $54,000.

House Valuation Brisbane suggests that – “If people are spending more than 9 percent on the renovation means they are over capitalizing the property.”

Moreover, the amount of money spent on the property renovation depends on locality and prospective buyer. If the home is in the nice or pouch area then definitely it demands some more money as buyers will look for high-quality things and brands in the home.

Ideally one should spend below 10 percent of the property in its renovation. Though people want to convert their home into their dream home so they can spend more on renovation.

Think about adding value to home through renovation – If you are a homeowner and doing renovation for your own house then you are a free bird, just check your finance and plan accordingly. But being a home flipper or investor you should think twice before bringing your renovation plan into execution. Because your purpose of renovation is to increase the value of the property. Think about your renovation plan is truly adding value to your investment property or not.

Some renovation changes like painting walls, changing floors, replacing old carpet with a new one don’t need much amount of money. But if you are planning to eliminate wall between the kitchen and living area then you need a big budget to do so. Though undoubtedly it increases the value of the property to a huge extent but makes sure you have sufficient finance to manage all this. For example – You may want to replace your kitchen’s top but it will cost you more, better you should look for the one which does the same job.

The property valuers suggest – “Choose the middle path between overcapitalisation and scrimping because this is an endless journey where expenses may touch the sky while renovating your home or property. So it is advisable to check out your renovation plan prior and make all the calculations then start renovating it.”

Contact us to hire a property valuer for the best property valuation services.

Australia’s property prices fall fastest in the last six years

Australia’s housing downslide is at its boom. It has been noticed that the property prices in Australia fall fastest in the last six years. In Brisbane and Melbourne the property prices are falling rapidly and in Perth and Darwin, the falling figures are driven by a long run.

The reasons behind the Brisbane slowest market till now is higher borrowing costs and unaffordable dwelling prices. The median house price in the capital cities has declined over the past few months. The steepest falls noted in the Melbourne and Perth.

Where the Hobart, Brisbane and Adelaide housing properties were up the other capital cities like Sydney, Melbourne, Perth, Darwin, and Canberra faces the major fall in property prices.

The House Valuation Brisbane company Brisbane Property Valuations says – “The biggest housing prices fall were occurring in areas where the market is premium.” In Brisbane , the dwelling values are down by 8 percent in the most expensive area of the market and 1.8 percent fall is noticed in the most affordable quarter of the market over the 12 months.

The dwelling price to the income ratio was found 8.1 in Melbourne and 9.1 in Sydney in the month of June 2018.

Property valuer have notified the “worst is yet to come” and that dwelling prices will go down further as demand falls at a rapid rate than the decrease in property’s stock. They have estimated the dwelling prices across the capital cities of Australia could drop by up to 5 percent a year, on top of the 2.4 percent slide in the year to July.

“National home values in Australia is continuing to fall, 0.6 percent dropping has been noted in the month of July 2018.” The economist predicted that – “Price will soon be falling even at a faster pace.” this is the worrying factor.

On comparing the housing sells data seven-year back and home sales in the month of March 2018 is found that the march declination was larger than it was seven years ago. The larger decline was noted in the number of new listings.

The decline in retail spending in the month of July is also a reason for falling dwelling values in Australia. It is suggested that Australians should be prepared for elongated housing downslide as the tighter credits and higher mortgage rates are affecting the dwelling values to a higher level.

The figures are very shocking – Australia’s home prices continue to fall from the last ten months and noted in the month of August also. Some economist says – Over the next four years these values could slide by 12%. A study revealed that Sydney and Melbourne home prices may decline by 15% in the year 2020.

Australia’s housing values are falling. But if you want to buy a home in Australia. The property valuers will act as a guide they are the professional who knows everything about the property value and property valuations. Contact property valuers Sydney to get the best value of your property.

Know why Brisbane vacant properties are filling fast

As per the new property report released – “Australia’s southerners are shifting to the northern part of the country like Brisbane and Queensland.” It has been observed that the Brisbane and Queensland rental vacant properties are filling up fast as the demands are rising. Whereas the nation’s largest city Sydney is having more empty houses though property owners are trying well to hold the tenants, by lowering the rental amounts.

The report stated the facts are – Brisbane rental vacant property rate fell to 2.9 percent in July which is continuously falling from the last 5 months. It is estimated that in Sydney 20,000 residential homes are vacant whereas in Brisbane these numbers are around 9000, which is comparatively very low. Despite low vacant properties, the rental rates are firm in the Brisbane. As the demand is rising every day the vacant property ratio is declining.

The asking rates in Sydney are still highest in the Australia i.e $707 a week for a house with three bedrooms. Though the vacancy rate in Sydney is recorded the highest in the last 13 years. Where the number of vacant houses are more.

The property valuers Brisbane figure out the reason behind leaving the Sydney is – “People now are moving in the northern areas to find more affordable housing, better standard of living and in the search of better job opportunities”.

The research says – “12 percent rise in demand for rental properties in Brisbane in the past 12 months”. Showing these figures the experts say the surplus rental property in Brisbane will soon be occupied in next one year.

The Brisbane economy has been improved and better jobs are available whereas the Queensland economy is also recovering.

The prospect renters are more interested in these suburbs of the Brisbane like – Holland park, Newmarket, Greenbank in logan, Camphill, Windsor of Brisbane. The Brisbane is well on the demand of the renters. So it’s not surprising to see the fall in vacancy rates.

The properties in Sydney are expensive, rents are high, sick traffic which makes life miserable in Sydney, according to the people who are leaving and want to leave Sydney. People want to live in the place where they can afford a house with a secured job and where they can enjoy the quality life. The main reason behind the leaving Sydney is people are feeling stressful there, to maintain the work-life balance is becoming difficult for them. Whereas they are feeling more comfortable and getting the quality life in Brisbane and Queensland.

Whether you are selling or renting your property in Sydney or anywhere in Australia, getting the experts advice is the great way to move ahead. First, know the property value via opting property valuation services and then decide the rental amount or selling price of your property.

If you are looking for the best property valuers in Sydney, then feel free to contact our expert property valuers Sydney they are always feel happy to assist you.

Smart ways to increase the value of your commercial property

Investing in the commercial property gives you a good return on investment and the most lucrative opportunity for the real estate investors as they purchase the commercial properties and put them on rent. Whereas the question is how they can evaluate the rental value of the property? For this commercial property valuation is needed. And obviously, you want the best property valuation figures for your property which gives you a good rental value.

Know how you can increase the value to your commercial property and get good returns –

Make property aesthetically strong – Improve your property is a wise way to attract the tenants. The small amendments to renovate the property like – change in flooring, painting the interior and exterior, installing or improving the heating or cooling system, extending the shop sizes by using the wasted area you had and these types of renovation won’t cost you much and after this you can ask for the tenants for higher rent as you are providing the good working space.

Big renovation like the structural improvement or constructing the new building on the place of an old and deteriorated one brings huge involvement of the money and time. But if you are sure to get good returns on this investment they surely you should go for it.

Example – Constructing a new property (with offices and shops) in place of old warehouse which is located in the commercial area is the right decision which can helps you to generate more income in a better way, as the sales value has increased after renovation. In these matters, you can take the suggestion of the commercial property valuers as they possess good market knowledge.

If you give old, shabby, uncleaned, unattractive building then tenants pay less for those buildings and on the contrary, if you offer a fresh, attractive, organised and well-maintained building then tenants are ready to pay high rents also.

Keep the rental price as per the market – To be in the real estate world and make profits, you should know about the current market trends and condition. Keep the rental price of the property as per the market. The too high in rental value will keep potential tenant away from you. Also, this can make your property vacant and empty for a long time leads to a decrease in property value. Whereas the too low rental value won’t match the profits you had desired of. Ask the real estate property valuer and fix the rent that works well.

Add amenities – Look for the high tech and digital ways to add facilities to your property like installing a digital security system, installing air conditioners and heaters, offering wifi zones to attracts the more tenants. You can too add the facilities like – small waiting lounges, playground, courtyards, praying rooms, lunch area etc. so people can enjoy the workspace and likely to have more interest in your property.

These are the sure shot smart ways to increase the value of your commercial property. Contact us, if you want to know anything more about the commercial property valuation services. Our expert property valuers are always there to help you out.

Know what expert says to remember while making a deal in real estate.

Buying and selling the property is the cumbersome process when you are naive to the real estate business. No idea at what price you should sell the property or keep it on rent annoys you. Though the property valuation services can give you the idea at what price or offer one can sell the property but unfortunately people ask for property valuation services after the offer accepted by the buyer. This leads to making a wrong deal. Here are the few tips or experts advice on how and what you should do while buying or selling the real estate property.

Call a valuer before offering a lucrative offer – Property valuation should be the first process before selling or buying the property but unfortunately, it is not. Before making a real estate property decision, call an expert property valuer for the advice.
Being an owner you should know the right value of the property which helps you to sell the property at the right price. Deciding the selling price more than the appraisal value may lead to losing the prospective customers. Whereas low price than actual property value puts a dent in the owner’s profit margin.

Low price always doesn’t work – Buying a property needs a huge amount of the money. Obviously, low price property can entice the buyers. But an expert says it won’t work always. As the property comes with various influencing factors associated with it. Seeking only for the low price property leads to having a concrete structured building only. Not the property which brings good returns on investment.

Also sometimes the owner sells the property at a low price in order to pull the customers. Instead of making the price low owner should smartly display the features and facilities associated with the property which can be a nice way to grab the customers attention.

Know the qualities, the property should possess which grabs the customer’s attention –

Where it is located – Location matters. The value of the property is directly proportional to the location. Central or prime location from where the accessing and commuting facilities are easily available to the important and various parts of the city costs high. The area with high profile offices and companies is the desirable location for both the residential and commercial purposes But are very much expensive.

Some real estate builders prefer to build the property in the outside area or peripheral area the city, where the property prices are not too high cause they are far from the central location.

As per the convenience, priorities, and pocket strength, the customers should decide which one is best.

Amenities associated – The word ‘house’ indicates the where our heart stays, the place where we can rest, rejuvenate our mind, body, and soul. The perfect place to escape from the fast competitive world. Where we can be ourselves. Then what kind of facilities it should have. Obviously, the green park, playing and swimming area, tennis & basketball court, gym and yoga halls, club and party houses come into demand. It is not like longer luxuries we are demanding it is the facilities that make home a complete place to live in.

Here are the tips to remember before buying or selling the real estate property. What you are waiting for. Contact the best property valuation service provider company to get in touch with property valuers so you can make deals effortlessly and flawlessly.

Methods to evaluate the commercial property value

Commercial property is the property used for a commercial purpose like offices, restaurants, retail stores, clubs, shops, malls, warehouses, garages. These properties are design with the intention to generate profits. Whether you want to purchase, sell, put it on rental basis you must aware of your commercial property value.

The undeniable fact is — it is much easier to evaluate the residential property value in comparison with commercial real estate property value. Because finding a comparable for your commercial building is very tough task and tedious too. So it is better to hire a property valuer, who can evaluate your property value easily and accurately. A valuer is a person who takes all the influencing factors into consideration, inspect the property minutely and then evaluates the right value of the property.

While determining the actual market value of the commercial property, the uncontrollable factors like economy value, market conditions come into picture. Cause of these factors the commercial property value varies so much.

Basically three methods are used to find the commercial property value –

Cost approach – The cost approach is used to evaluate the property value, as finding the comparables of commercial building is very difficult. In this method, the valuer finds what will be the cost if replica will be made. Example – the commercial building of which you want to know the value, Valuer find what will be the cost of creating structure alike the subject property. The current price of land, building material and construction cost and other cost paid to build this commercial building. Calculating all the costs one can know the right value of the property. This is called as cost approach.

Sales comparison approach – As the method’s name is ‘Sale comparison’. So the sales comparison is made between the subject commercial property and comparables. Comparables are the property which are sold out in recent months and is nearby the subject property. It looks like a subject property and moreover the type of property is same.

Example – Property A is subject property of 3000 sqft land area and 2 floors building with
Having 2 big size halls, 10 medium size shops. Whereas the property B which is sold out in the last month with 2500 sqft land area and 3 floors building having 5 big sizehalls, 7 medium size shops, 3 small size shops. This is called comparables.

The Sales comparison method is mostly used for residential purpose. As finding a comparable is easy in residential buildings. It is essential to have a comparable if you want to estimate commercial property value via sales approach. Without comparable it won’t be possible to go and find property value via this approach.

Income capitalization approach – There are three elements used in this method. Income i.e Income generated from the property, ratio i.e capital ratio and value i.e value of the property. The value can be determined with the income from the building to the capital ratio.

Commercial property valuation is tough and required in the fixed interval of time. Better to hire a commercial property valuer to get the accurately estimated commercial property value.

Why do house valuations vary and which factors affects the property prices?

Property valuation is the definite economic value of the property that is determined by the qualified property valuer, it is the dynamic value that changes frequently. The real estate investors know the importance of having the correct valuation. As it saves you from making wrong financial decision. The property valuation act as a guide to make the correct decisions in the real estate world.

There is a difference in property value and property price. Property value is something that is estimated by the property valuer by gathering information related to the property, doing some calculations, previous sales history, and keeping all the influencing factors into consideration, the property valuer determines the value of the property.

Whereas the price of the property depends on – the cost at which buyer is willing to pay for and the seller is ready to sell the property is called as property price.

It is not necessary that property value will be equal to property price. Here are the factors that affects the real estate property prices –

Property’s Location – Where it is located? near Airport, Bus and train station, near school, near office. These are the questions (basically requirements of buyer) before buying the house or property. For example – The family is looking for a house which is near to their office location, because they are now sick of travelling and city’s traffic. So they want a house near to their office which makes commuting easy for them.

In this case, they will agree to pay some higher price for the house near to their office location because this is something, they are looking for. Thus seller can take advantage and may sell the property at high price.

In other case, the property’s location is not easily reachable. Then the prices will go down automatically.

Property condition – Property which is well furnished cost high than the one which demands renovation. People are less interested to buy a place which requires renovation. The house with well updated kitchen and bathrooms is more liked by the buyer because the large sum of money needed to renovate these two places. What’s the actual condition of your property impacts the price of the house directly.

Comparable prices – Yes, this you cannot have control over but you can’t ignore it too. The residential property valuers and real estate agents took this into consideration while evaluating the property’s value. The most common method used to evaluate the property’s value is Sales comparison method, In this expert property valuers look at the selling price of those properties which are similar to your subject property. The comparables that are sold out at less price due to any reason puts wrong impression, while calculating your house price.

Impact of Valuation figures – It is the formal way of valuing the property. If the property value is less and seller is demanding higher price than property value than buyer is least interested in buyer such property. The price of the property is affected by property value.

Overall Economy of the country, market conditions, and interest rates are the major factors behind the property price. The prices and value of the property are dynamic and cyclical in nature and majorly it is depends on uncontrollable factors.That’s the reason they varies so much.

The valuers assure, (If there will be no change in market conditions) then this valuation figure will be valid till three months, after the valuation. It is good to have your property valuation after every six months.

Planning to hire a property valuer? We will be happy to assist you. Feel free to contact us, if you need any property valuation services.

How can I find the fair market value of my home

Maybe you don’t want to sell your property right now, but this is an interesting question, and you should be aware of this answer. Finding the property value can help you in many ways.

Whether you are planning for property renovation or buying another property for investment.

You should be aware of what‘s the value of your property you possess.

What is property valuation? Why it is important?

It is a way to find the actual market value of your property. It is vital to make the several financial decisions related to the property.

You must be aware of this, the fair market value of the property is not always equal to the sales price of the property. It basically depends upon the buyer and seller’s mutual understanding. Sometimes the sales price is less or equal to the property value.

How to get your house valued?
Find the best property valuer in your town and get your house valued. It’s easy.

Qualities your valuer should possess –

  • Determines the accurate property value.
  • Provides property value reports.
  • Give tips on how to rise the property value.
  • Honest and keeps your property value report confidential.
  • Valuer should have great market knowledge.

What is the cost of property valuation?

The cost of the property valuation varies because it depends upon the property size, market condition, geographical location, type of the building and many more. Basically, the valuation reason for every property differs, it is not even possible for the valuation companies to fix their price. But it is wise to get in touch with 2-3 top property valuations companies and then compare their services and cost. Choose the one who provides you value for the money.

Benefits of knowing house worth –
Nowadays It is vital to know the property value when you are in the market. Otherwise, you may lose a big deal and left with nothing much into your profit accounts. So to make the noticeable profit from your most valuable asset i.e house, ask property valuers to determine the actual worth of your house.

House values depend upon various factors like –

  • Location of your house.
  • Current market condition.
  • Condition of the property
  • How old your house is, i.e age of the house.
  • Number of rooms, bathrooms available.
  • Renovations need or not.
  • Interior and exterior of the building.
  • Condition and availability of the garden, garage, front yard, backyard etc.
  • Neighborhood – surrounding also plays a significant role in property’s value.
  • Amenities like transportation, school, religious places, bus and train stations, airport and many more.

Considering these factors, the property valuer evaluates the actual market value of the house. There is a difference in property appraisal and property valuer that you should be aware of.

Property valuation is the professional way of estimating the property’s value by considering every factor minutely and than prepare the report which exhibits the details of the property. Overall it’s a professional way to know about your property value.

A property appraisal is done by a real estate agent on the request to do so. The factors like market knowledge, recent sales can keep real estate agents to quote a value, That is not definitive and not a legal way of property valuation.

So hire registered property valuer soon.