3 Things You Might Be Doing Wrong On Valuation Day

by | Sep 14, 2018

Despite the thoughts which some experienced investors might harbour in their hearts – valuers are people too!

They’re not “out to get you” as an investor, they’re simply doing their jobs to the best of their abilities, often getting squeezed by various parties in the process.

No matter what your opinion of valuers and their product, you are not entirely helpless on valuation day – you have options. If you choose not to consider those options, you’ll likely wonder what difference they could have made in your valuation. $20 – $50K? It’s possible and that can mean a BIG difference to your future property investing plans! So here are 3 tips to ensure you get the highest valuation possible.

1. Failing to stage your property

Yeah, I know. You’re probably rolling your eyes at the moment and thinking “duh” everyone knows staging property is important, but do we all do it?

If you’ve got a tenant who is, generously speaking not “house proud”, it would certainly be worth your effort to get them out of the house on valuation day (send them to a spa or something), have the house properly done up (or do it yourself).

Even though valuers are paid to consider the structure of the home, and they are bound by what’s happening in the market, they can fall in love with the property in the same way a buyer can. A well staged home could influence the valuer towards the higher end of the property value range. Hmm…fresh Cinnabons in the oven anyone???

2. Picking horrendous colours

Purple wallpaper, green carpet…’nuff said. Seriously though, when choosing colours consider what the majority might like. Everyone’s different, so pick neutral, light or ordinary colours which don’t detract from the home’s structural beauty.

3. Failing to understand what the market wants

Renovating to sell? Before picking up a hammer or a paintbrush, run by new developments in your area. Check out the display homes and take note of what they’re doing – they’re obviously trying to sell these homes, so they’ve done some research to appeal to the masses.

Next, take a look at the beautiful, prestige homes in your area and copy what they’ve done at a cheaper cost. Bada bing!

Realise this – yes it’s common knowledge that valuations are coming in tough – however you should be doing everything in your power to ensure you get a top dollar valuation – as it could mean the difference between you being able to access equity or not and being able to move forward in your investing journey. Additionally this video offers some great tips on increasing value and the art of the sale!

Click here to like us on Facebook and see more updates like this.

Hey there, do you enjoy the Positive Real Estate Blog? If you did, why don’t you book into a Property Information Night in your area and get more information from our team. You can do so here.

Also, if you can not wait, click here to access the Property Mini Course and signup for our email newsletter. This FREE 2 hours video series gives you some of the top tips from our team that you can use right now. Thanks.

Take the Next Step

Infrastructure that Skyrockets your Property Wealth

Infrastructure that Skyrockets your Property Wealth

You’ve probably heard it before, infrastructure is vital to your property investing success.  Here’s why you should consider current and future infrastructure when making an investment decision. First off - what is infrastructure?Investing in houses offers the...

House vs Apartment

House vs Apartment

Do you know what the best investment portfolio looks like? Is it apartments, houses or a mix of both? It’s the battle of the ages: House vs Apartment.  The thing is the answer to this question can be different for everyone and the determining factor is often about...

The All Monies Mortgage Clause Explained

The All Monies Mortgage Clause Explained

Did you know that The money in your bank account used for direct debits. All money in your offset or redraw accounts. Any funds due to you at settlement. Any payments made in advance.   The bank can potentially keep it under the “All Monies Mortgage Clause”. Yes,...