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The Importance Of Valuations

When it comes to the things that are important in and around your home, you may overlook the importance of the property value. This may not seem like something that is too important for you, but you’ll find that there are many strong reasons why you should find out the true valuation for your property.

It is also important to be aware that there are many factors that influence a property’s valuation. There are some general valuation factors and there are some that will be specific to your home. There are many times when it is good to know the general valuation of a property and many estate agents provide valuations on their site. This can be achieved due to the general factors that include the valuation of a home, like:

  • The property size
  • Demand for homes in the area
  • Where the property is located
  • Facilities and amenities in the local area

These factors can be considered, along with recent sale prices for a specific area, to create a general value for a property. This is often all you need to give you a starting point when looking at homes, but there will be times when you need to obtain the true valuation of a home.

Many factors influence the true valuation of your home

Aspects that impact on the accurate valuation of the property include:

  • The age of the property
  • The condition of the property
  • Storage options at the home
  • Any structural improvements undertaken at the property
  • The layout of the home
  • Standard and quality of fixture and fittings in the home
  • Standard and quality of electrics and heating in the home
  • Any insulation work or double glazing in the home
  • Parking facilities
  • Size and condition of the garden

These are all factors that influence the accurate valuation of a property.

With this in mind, it is important to know times when someone may be looking for a true valuation of their property. The following times are the most common times:

  • When the homeowner is looking to refinance
  • When the property owner wants to judge their return on investment
  • When the property owner is looking to insure their home
  • When the homeowner is looking to sell their property

These are all important aspects and the true valuation of the property is essential for all of the elements. If you are looking to re-mortgage your home or you plan on using your property as an asset when taking out a loan, you need to make sure that you list the correct valuation. If you don’t provide a true valuation, you may lose out on money that would be available to you.

There is also the fact that many property owners consider the investment nature of their property to be as important as the shelter a home brings. If you are looking at the long term return from a home, you want to make sure that your property continues to be valued strongly. A key reason to invest in property is that this is an investment plan that you can influence, so it makes sense to stay up to date with your investment. Whether you are on track or you know that you need to take action to safeguard and improve your valuation, obtaining the true value makes sense.

You’ll also find that listing the right value of your home when covering it is a smart idea. If you fail to cover your home sufficiently, you may find yourself losing out if you do need to make a claim at a later date. Of course, there is also the fact that if you are selling your home, the true valuation of your property ensures you are fully informed when it comes to dealing with offers.

When you know the true valuation of your home, you can be confident that you’ll make an informed decision, no matter what you want to do. This is why you cannot overstate the importance of property valuations.