Here are the most common myths of property valuation
We all are aware of the fact that how property valuation is vital. From buying, selling of the property to paying property tax, property insurance premium, to decide the rental price property valuation is the must. If you have residential property go with the residential property valuation and for commercial property opt the commercial property valuation services. But unfortunately, some myths are associated with the valuations services. Which becomes the hurdle in the property valuation services.
We have mentioned those myths which are putting hurdles in the valuation services –
Swimming pools add more value or no value – Some vendors think swimming pools add no value but the families with young members and children are ready to pay more price for the swimming pool. As it gives a healthy and active lifestyle. It’s a place at the home to relax and spend the leisure time with family. Whereas for retirees home with a swimming pool is of no use. So it’s no right to be partial with swimming pool as it increases or decreases the value of your home. It all depends upon the buyers and their needs. Moreover, it depends upon the location of your home. A home with pool where retirees lives that pool does not add value to your home.
More bedrooms indicate more value – It’s actually not the case. People look for the area of the property rather than counting the room’s number. Two big rooms are better than three small rooms. The more bedrooms are not the reason for high home value. Amenities, location, neighborhood, and area of the property puts more impact on the home value.
Commercial property investment is riskier – It’s foolish to think that investment in commercial property is more prone to risk. Investment in real estate property is itself a risky matter whether it is in industrial properties, residential property or commercial property. It is advisable to take the suggestion from the home valuer and get the home valuation services to know the actual market value of the home.
The valuation figure doesn’t matches with my calculations – Sometimes homeowners make some amendments and invest money in home renovation as per their choices. But it doesn’t mean it will liked by the buyer and thus the thing or renovation which you feel is worth doesn’t even notice by the buyer or valuer which leads to having a difference in valuation figures. Home valuers are the experts and they know well how to do the home valuation better to rely on professionals when it comes to services like home valuation.
Property value and property price is same things – This one is the biggest misconception people have. They should accept the disparity between the two. The property value is the estimated value given by home valuer on the basis of the market condition. Whereas the price is at which buyer is ready to pay in order to buy the property. If the buyer is highly satisfied with the home and its location then the buyer can happily pay the higher price and if the seller is in the urgent need of finance and want to sell the property fast then it might be possible seller sells the property even at low price thus the difference between price and value arises.
These are the myths people carry in their minds. Contact us to hire home valuer for best home valuation services.