The property market, although fairly stable is subject to market fluctuations therefore you should get your property valued once every year or two. A property valuation is beneficial because it can help you understand how much equity you have in the property. This can be helpful so you don’t over capitalise. Overcapitalisation is when the amount borrowed, including interest is more than what the property is worth. Getting your house revalued regularly also gives you an insight into how much equity you’ve got in the home giving you the opportunity to reinvest your capital in renovations, improvements or additional property.
Valuations NSW has been valuing properties in Wollongong and other areas in New South Wales since 1997 and can also offer office/commercial valuations, industrial valuations, retail valuations or plant and machinery valuations.
Commercial property valuations can influence whether or not you decide to invest in commercial property or how much rent to charge if you’re going to lease the space.
All of our valuers complete valuations with total independence so you can be assured that the value they arrive at is a legitimate indication of what your property is worth and how much you could reasonably sell it for if you were going to.
Our Wollongong based Valuers will assess the following when valuing your property or equipment:
The location. Properties in desirable areas or those with high demand are typically worth more than those in less desirable areas;The type of land that’s being valued. If the land us vacant then it could have a lower value depending on the zoning and what improvements are required such as installing drainage or levelling the property;Interest rates – when interest rates are high values are typically lower than when they are low;The area’s supply and demand;Overall performance of the property market;The area’s demographics – high socio-economic areas attract higher property values;Economic conditions at the time;The equipment’s condition.
Why you should use an independent valuer
If you’re purchasing property with a mortgage then a bank valuer has a responsibility to the bank to conservatively value your property whereas if you’re working with a real estate valuer then they’re acting in the interests of the real estate agent and will opt for a high valuation.
As an independent valuer, Valuations NSW has no incentive in arriving at a low or high property valuation. Their sole concern is to accurately value your property based on the information they have available to them.
Because all of our Valuers are independent and have no quotas to meet they can take the time to assess the external attributes like:
Environmental factors such as if the property is in an area that could be impacted by coastal erosion or prone to bushfires;The mood and sentiment of the property market.When valuing a property it’s essential to review the internal characteristics of the property including the usable space, condition of the kitchen, the bathroom’s condition and the overall construction of the property.
Commercial – Wollongong property valuation
Given Valuations NSW is part of a national company, the staff hired must adhere to strict processes and procedures when valuing commercial property. All of the Valuations NSW Valuers are proficient in valuing properties. They are all Certified Practicing Valuers with the Australian Property Institute (API) and frequently attend training and development sessions to enhance their valuation knowledge. Our Valuers who value property in Wollongong are all locals so in addition to being expert valuers, they are equipped with extensive local knowledge including the foot traffic that a retail store is likely to get and the competitors in the area. They also know the area’s development potential.
Residential – Wollongong
Resident in Wollongong, our property valuers conduct residential property valuations for a vast array of purposes including:
Market value appraisals;Family Law Court;Deceased estate/probate;Expert witness;Compensation;Property settlement;Stamp duty;Capital Gains Tax;Internal Accounting;Property rental assessments/reviews/determinations;Compulsory acquisition (by the government);Mortgage security;Litigation;Pre purchase or pre sale;Building insurance analysis;Retrospective;Superannuation fund.Completely independent, Valuations NSW does not work on behalf of real estate agents or banks to they are not motivated to give a certain valuation. The valuation they arrive at is an accurate estimate of what the property could sell for on the market.
Wollongong development overview
With a population of 302,000 people, Wollongong is the third largest city in New South Wales after Newcastle and Sydney which it is 68 kilometres from. Wollongong is a coastal city with Wollongong and Shellharbour beaches making it an attractive location for anyone who loves the outdoors.
Why Valuations NSW?
Whether it’s commercial or residential property; or business equipment that you’re having valued, you can be assured that when you enlist the services of Valuations NSW you’ll receive a valuation report that you can trust.
Our Valuers are diligent and individually hold a minimum of 15 years valuation experience. They are thorough when completing valuations and aim to inspect your property within 48 hours of your enquiry. Then they will send the report back to you 3-5 business days after inspecting your property. To set up a valuation inspection, give our knowledgeable team a call on (02) 8599 9863
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