5 reasons to consider a property valuation

9 February 2021

5 reasons to consider a property valuation

Even though it's one of the most expensive and life-changing decisions you can possibly make, it's still surprising how many people say "Nah" when they're asked if they are planning to get a property valuation done prior to purchase.

After all, isn't having a good look at the real estate websites, talking to a few competing agents, or perhaps even buying a property report with detailed sales histories enough?

To that, we're going to say a resounding "No". And we have five reasons that we hope might change your mind:

1. Understanding 'price' vs 'value'

Remember: Price and value are two entirely separate things. Price is what you pay, but value is what the property is worth - and if there's a major difference between the two, you definitely don't want the price to be the higher one!

2. Professional advice

Every professional, qualified property valuer is an absolute expert - and you are not. Before making big decisions, and especially ones that you may be paying for for decades to come, you should always get specialist, objective advice.

3. Understanding the agent's role

Don't forget: Even the most ethical real estate agent is still acting on behalf of the Vendor, and their job is to maximise the price. The valuer, though, is acting on behalf of you, and their sole aim will be to arm you with objective knowledge.

4. Separating out the emotion

Let's face it: Buying a house can be really exciting and nerve-wracking, and those feelings work on your emotions. People absolutely love their homes, and they can fall in love from the very first open inspection. That love can cloud their judgement - and, thankfully, a property valuation can override the emotional elements and make that vision crystal clear.

5. What's the downside?

Think about it: Without a valuation, you've saved a few bucks - but you may make an expensive decision that you'll pay for and regret forever. One of the hidden benefits of a valuation is that, if you're investing, it's actually tax-deductible, so we can't actually think of a real downside.

Existing property owners also get valuations done before they go to market for most of the same reasons - to arm themselves with knowledge that could guide one of the very best and wisest decisions they'll ever make. And what if you can find someone who'll do them for free? Get in touch today to find out more.