Valuations

Performing a property valuation is essential for a number of practical, legal, and financial reasons. Here’s a breakdown of why you might need a property valuation:

Buying or Selling Property
- For sellers: Helps set a realistic asking price based on market value.
- For buyers: Ensures you’re not overpaying for a property.
Investment Decisions
- Helps investors understand potential returns.
- Useful for comparing the value of multiple properties.
Insurance Purposes
- Ensures the property is adequately insured (especially for replacement value after damage/loss).
Taxation & Legal Reasons
- Capital Gains Tax: Calculated based on value changes.
- Property Taxes: Local authorities may use valuations to assess property taxes.
- Probate, Inheritance or Divorce Settlements: Needed to divide assets fairly.
Development or Renovation Planning
- To evaluate if improvements will increase property value.
- Supports decisions on refinancing or budgeting for construction.