There is a fascination with property prices and values but there are many reasons why people need to know what their property is worth. There will always be an element of curiosity regarding how much prices are selling for or are valued at in your local area, but at Hansons Estates, we are pleased to say we have helped an extensive range of homeowners find out the value of their home.
There are many places where you can obtain an online valuation for your home. This provides you with a valuation based on available data for homes in your area. This information offers an excellent starting point in considering house prices, but your home may not be close to the average property in your area. It is best to have a valuation carried out at your home as this will provide you with the most accurate information for your home.
If you are looking to sell your home, you need to have the property values, but even if you aren’t selling soon, you can benefit from this service. Here are five reasons you need a property valuation:
1. Property Tax
3. Financial Planning
4. Safeguarding your investment
5. Competitiveness with your neighbours
When it comes to property tax, the current market value is the most important aspect to consider. If you undervalue your property, you put yourself at risk of a fine and if you overvalue your property, you end up paying too much tax. Neither of these outcomes is preferable so arranging a house valuation removes these concerns.
With respect to insurance, the most important figure is the cost of rebuilding your property as opposed to your purchase price or current market value. You can avoid overpaying on insurance by having a valuation carried out and then obtaining the cost of restoring your home to sound condition if an issue arose.
There is also a lot to be said for having accurate information with respect to financial planning. Knowing what condition your finances are in helps you make major decisions and paying off a mortgage is a major aim or goal for people, so this information can help you protect yourself and your loved ones.
It may also be that you are concerned about falling into negative equity with your home. Having a valuation provides you with guidance as to what you can expect to receive when you sell your home in the future. This may provide you with guidance or motivation to carry out home improvements.
Of course, it may be your motivation for getting your home valued is the hope that your house will be worth more than your neighbours! It is always nice to have something to brag about and if you have a highly-valued home, you will feel content with your lot in life.
Ultimately, the most obvious reason to arrange a property valuation is that you intend to sell your home. It is important that you price your home accordingly because if your home is priced too high, buyers are less likely to show an interest and if your home is priced too low, you may miss out on money you could have earned.
When selling your home, it is best to be as informed as possible and an accurate home valuation provides you with information that allows you to make a smart decision with respect to what to do with your home.
If you are looking for an accurate home valuation, call on Hansons Estates. We know the local market and we are pleased to say we have helped many homeowners find out the value of their home, allowing them to make an informed decision regarding their next property move.