A property valuation benefits both buyer and seller. It helps get the real value of the property as per the current market trend. It helps reduce the risk for the buyer of paying more than the true value and allows the seller to know exactly how much the place is worth. It also helps the seller understand the changes he can make in order to increase the value of his property. There are certain renovations that can be done in order to increase the property value which can easily be known by getting the property value assessed by professional valuers. Here are the advantages of getting the property value assessed.

True Value

The first and most important reason to get the land valuation Brisbane done is to find out the true value as per the current market. The value of land changes over time and if people are unaware of the current market value, they can get scammed. It can result in a person selling the property for a lower price or a buyer getting tricked into paying more than the current value of the land. So it is considered to be beneficial to both parties.

Increase Worth

Once the person knows the true value of the property he can make the required changes in order to increase its value before selling or mortgaging it. Renovations and improvements the interior and exterior of the property affect the value in different ways. 

Mortgage 

When a person is planning to get a loan on the land, he needs to get its value assessed in order to get the best deal out of it. Mortgaging is a serious thing which needs to be done right in order to be able to get the property back. Getting land valuation done helps get the best deals and interest rates possible on the loans. 

Settlement 

When there is a family dispute going on, it is better to hire property valuers who are biased in their work. It would help get a clear idea of the property value that needs to be paid or equally distributed among the members. 

Methods of land valuation calculation

There are basically two methods which are followed by top property valuers in Australia which are direct comparison and summation method. 

In direct comparison, the most recent comparable sales of the residential properties are taken. Around 5-6 properties are taken as subjects for comparison on the basis of which the value is assessed. There are also various attributes that are taken into account such as the size of the property, number, and types of rooms, fixtures, and fittings, structure, and condition of the building, standard fit-out and architectural style, ease of access to the property, size of the land, layout, etc. 

In summation method, the building method, land value, ground improvement value, and inclusions are taken into consideration. Here, inclusion as the dishwasher, window curtains, light fittings, carpets, etc. The ground improvements are the driveway, footpath, swimming pool, garden, fencing, etc. 

The professional valuers show both land value and added value of the improvements. The vacant land sales are used as a guide to assess the land value of the subject. With the use of both methodologies, land valuers can give a perfect assessment of the land. 

To hire professionals for land valuation or commercial property valuers Brisbane, get in touch with Australian Valuers. The company has years of experience in the field and can provide top results with precise valuations. They provide land valuation service for all kinds of properties at reasonable prices. Visit https://australianvaluers.com.au for more information.