Abeygunawardene Associates

A valuer assesses the value of land, buildings, improvements and other factors that influence the value of your property, a process that usually involves an external and internal inspection of the property. Valuers are independent with no vested interest in the property they value. A valuation report is a legal document of the value of your property prepared for many different purposes:

• Mortgage/Refinancing
• Current Market Valuations
• Buy/Sell Valuations
• Rental Assessments
• Stamp Duty Purposes
• Self Managed Superannuation Funds
• Family Law
• Body/Owner Corporation
• Insurance
• Tax i.e. Capital Gains Tax, Probate
• Estate Planning
• Development Feasibility

The cost of a valuation varies according to the location, size, value and importantly, type of the property to be valued, as well as the type of report required i.e. short form three page report or long form twenty-thirty page report that is more detailed and required particularly for mortgage, feasibility, family law or litigation purposes. The cost of a valuation is usually tax deductible if the property is held for investment purposes. The cost of this professional advice is relatively small compared to your investment and the potential savings and peace of mind it can provide you.

During a property valuation, a valuer must physically inspect the property, measure the land and satisfactorily identify it against the title or plan of subdivision. The appointed valuer will physically measure the house, take a description of its condition and improvements, take a photo and review a minimum of three comparable sales from which to conduct a sales analysis. This information is then used to determine the value of the property. The valuer will then prepare a written report based on his or her findings.

There are many factors which contribute to a property’s value the most influential of which is the land component. The land size, location, topography, shape and aspect can, in some instances, account for up to 70% of a property’s value. The land component will also appreciate where building structures will always depreciate.

Other factors which can influence the value of a property include architectural style and uniqueness, design and layout, potential for future development or renovation, the number of bedrooms and bathrooms, and the quality of fixtures and fittings, just to mention a few.

When valuing a property a qualified property valuer will consider the following:

The land size, the aspect or views afforded by the property and the topography and layout of the block and house.
The size and layout of the building.
The location of the property in relation to schools, public transport, shops and amenities.
The architectural style of the property dwelling.
The condition and state of repair of the property.
Whether the property has renovation or development potential.
The highest and best use of the property.
The number of bedrooms and bathrooms.
The size of the kitchen and bathroom(s).
And more…