Monthly Archives: September 2018

Know why property valuation is necessary

People usually don’t know about Melbourne property valuation services and the irony is they don’t even want to. Because they have a real estate agent who roughly estimates the property price and people make the property transaction on the basis of it which is completely wrong.  

It is imperative to understand the difference between property value and property price. Property value is the estimated value of the property determined by the qualified property valuer by keeping the various factors into consideration. Whereas the property price is the amount which buyer is ready to give to buy the property. Property price depends upon the mutual understanding between the buyer and seller.   

Determining the property value is necessary for various reasons like –

When putting a property on sales listing – When you are planning to sell the property, first you must figure out the actual value of the property, for this property valuation is the must. Then only you can put your property on sales listing to get the right value of it.

When keeping a property on the rental basis – Many of us buy real estate property for an investment purpose and just to generate monthly rental income. For this actual current market value of the property should be known to the owner. Property valuation helps you to know how much rental income you can generate from the particular property.

When you want to buy a property – If you are planning to buy a property it’s good to take a suggestion from the property valuer. They know all the ins and outs of the property. Valuers can suggest when and how to buy a property. Hire a property valuer aids to buy the property at low rates.   

Property valuer finds the right value of the property through which one can evaluate the property tax amount, insurance premiums, helps to use the current home equity to buy the new property and more.

How property valuation is done –

First, find the best a property valuation company in the city and then hire a property valuer. Valuer inspects the subject property to gather all information related to the property and collect the current local sales data to find the comparable. After this valuer makes some analytical calculations to find the right value of the property.

Eventually, property valuer prepares a property valuation report which is used as a reference by the government authorities and courts to solve the legal issues. As the report by qualified valuer holds all the information of the property owner and property like type, area, structure, design, comparables used, the analytical calculation to determine the property value and colored pictures of the property.   

Property valuer helps to find the right value of the property, they are the experts thus they can guide property owners, buyers, and investors in the much better way. Hiring a property valuer is a kind of investment one should make to save thousands of dollar. This investment surely gives you the good return on investment.

Feel free to contact us to get the affordable, right property valuation services through the expert property valuer.  

Young Australians are more interested in rental homes, know the reason

According to property experts -”The young Australians are more interested in rental homes rather than buying a home.”

As per the report – In the last 15 years, the rate of private rentals raised from 23 percent to 28 percent and very less number of people are buying their own homes. The reason behind this is raised dwelling prices and uncertainty in the employment.

In the period of 2013-2016 in Melbourne, only 10 percent of the renters moved toward homeownership, which was 13.6 percent in the year 2001-2004.

The adults between 35-44 age group, only 9.8 percent of people are moving into homeownership 2013-16. Which was 15 percent in 2001-2004. Which is relatively high in a 55-64 age group that is 11.6 percent in 2013-16.

The major reason behind not buying the home and increase in a number of the renter is high dwelling prices, but according to the property valuer Melbourne, the reason of the increase in renters and decrease in homeowners is the affordability and the high-interest rates are not allowing them to pay for the home loan.

Some households aren’t interested in purchasing a house because the risk is associated with the rise in the interest rates. People think they will end up with much larger repayments as a share of their income that they won’t be able to afford.

Geographical location is the biggest concern in the minds of people. Buying a home where access to the market, city, public transport, schools, hospitals, offices are more expensive and most people like to live in these areas only. This increases the demand among the buyers and ultimately makes the prices of these areas high.

So the people have to choose from two – either find a location where houses are less expensive where they can afford to buy a home or else find a location for rental purpose where their interest lies. And most are choosing rent over homeownership.

It is also seen among some young Australians that are becoming ‘re-investors’. They are choosing to live in the location where they want to live in on the rental basis and buying property in the area where they can afford that is for investment purpose.

Though these kinds of renters are increased who owns some property elsewhere but currently living as a renter. This is something called ‘trade-off’, that people have the potential to buy a home but not the place where they are living.

Most young Australians choosing to stay at their parent’s home. Thus the increase in households in Australia where multiple generations are living together in the same house as a result of increase in cultural diversity has been noted in these homes.

Property valuer says – “There are many communities where a lot of people living in a traditionally, multi-generational environment (when living with parents and grandparents) is just a common thing.”

Are you looking for a House Valuations Melbourne experts for valuation services? Then contact us, we have team of expert valuers who can guide you well.

Impact of the technology in the real estate property market

With the word ‘real estate property’ the picture of homes, buildings come to our mind. The place where we live, work and play comes under the property. Your home, apartments, flats, offices, shops, banks, clubhouses all are the real estate property. And we can’t ignore that fact that lives we are living are fundamentally altered by technology.

Definitely no corner, no field is untouched with the technology. Thus the use of technology in the field of real estate brings out a new word called ‘Proptech’, it is so popular nowadays. This actually means – The digital transformation in the real estate property market is proptech. It includes the transformation in technology brings in the real estate world. Moreover, it is the term used to define those startups which offer technologically advanced products or new business models for the real estate market to make it technologically potent.

The aim of the technology is to solve the problems of the people. Before adding a new technology in the real estate property one should think about the problems faced by the people in real life. It is important to understand the actual requirement of the people, what is the problem has faced by the people, try to find the solutions to those problems via technology.

We inhabit the property all the time. People spend millions and billions of dollars in real estate property. Bringing the technologically enabled business models to solve the people’s problem is important and worthy. Property valuers and property valuation companies should understand this and think how they can create a difference in the property world.

Technology is just rewriting the rules for everything, to solve the problems in every field. Like previously, we have to trouble a lot just to find a taxi but now with the blessing of the technology we can book a taxi online and it is available at your doorsteps in few minutes. That’s the power of technology in the taxi industry.

Same the real estate property valuers need to emerge themselves in this techno world and required to design the technology-enabled business models which can resolve the people’s problem, like finding a new home, rented property or investment property is the biggest problem, or the problems of which people are not even aware of. It is all creating a new way that is completely different from the traditional ways.

Real estate property industry uses the conventional way of doing their business. It is the Proptech which indicates the need to evolve and adapt technology. Technology should be used in real estate property to create or renovate services offered in real estate to buy, sell, rent, develop, analyze, market and manage a property in a more effective and efficient way.

For the best property valuation services, you can contact our expert property valuers who are always ready and happy to help you.

Massive advantages of having an independent property valuation services

Property valuation services become vital when you are buying, selling or putting the property on a rental basis. It is advised to get an Independent property valuations services in the regular interval of time to know the exact value of the property and to make your financial strategy in a better way.

Property valuation helps the property owner, house hunters, property investors to know the current market value of the property in the open market. On property valuation, the property valuer provides the property valuation report which holds the written information of the property, analysis report and the value of the property calculated along with the current pictures of the property. It not only exhibits the market value of the property but also help you to know the rental rate, improvements required and market risk score.

Property valuation figures help the borrower in applying for home loan, helps the owner to pay the house tax amount, property insurance amount, in selling the property or to keep the property on rent, property valuation figure works as a guide for the property owner.

The advantage of having your independent property valuer –

The real estate agents can also give the value of the property, but one should not rely completely on them as they are not the qualified professionals and moreover they work in the favor of the vendor.

Whereas the property valuer is the qualified professional who knows the ins and outs of the market, studied the property valuation courses well and overall they work unbiasedly. You can trust in the valuation figures estimated by the property valuer. Thus you can make a more clear deal with the vendor or buyer. Either you are buying or selling the property you can hire the property valuers who can help you to crack the better deal. This gives you a “peace of mind”, while making real estate property deal it requires a huge amount of money. Everyone wants to make the profit. So to play the safe game hire property valuer and ask for the suggestion then make your move otherwise single wrong move will take you to the ditch and dent in your pocket.

The independent valuation gives the investor a liberty to negotiate the purchase price and get to know the home loan options.

Before hiring a property valuer, make sure valuer possess these qualities –

  • Property valuer is a qualified and experience professional.
  • Valuer should be unbiased and honest in nature.
  • Valuer should understand the current market well.
  • Property valuer should offer their services at an affordable cost.
  • Valuer should compliant to rules and regulations.
  • Valuer should give you a property valuation report.

Looking for the best Melbourne Property Valuer to determine the right value of your property. Hire Sydney property valuers who are the experts in finding the actual market value of the property. Contact us for best property valuation services our experienced professionals are happy to assist you.