What Is Your Home Worth? Get a Free Home Valuation in Denver, Colorado Springs, Boulder, Ft Collins and Surrounding Front Range Areas 888-929-5280
When would I need to get a property valuation?
The most common time you will hear people discussing house valuations are when lending institutions are financing a certain property – it is an essential part of the home loan application process.
If you are obtaining a mortgage or refinancing, a bank requires a valuation to ensure the security value of a property covers the loan. If anything happens and the mortgage is unpaid, the bank needs to be confident that it can recover any outstanding amount owing on the property if it had to re-sell it.
The lending institutions usually use their own nominated panel or preferred licensed property valuers.
How can I increase my house value?
If you are looking to sell your house in the future and want to know what might help when the property is valued, here are some helpful pointers.
- You can’t change your property’s location but you can change the house itself. Think about a renovation or extending the floor area of the house. Can you add a bathroom, bedroom or entertaining area? What about improving your indoor-outdoor flow?
- Make sure the property is well presented. Can you tidy up the garden or remove any untidy trees or structures? Are their any views that can be taken advantage of or can you make vehicle access easier?
- Give your important rooms – the bathroom and kitchen – a mini makeover. It can often be fairly cost effective to update cabinetry, the bench top, light fittings and fixtures. Even a quick lick of paint can do wonders!
- Do you have covered areas for vehicles? Can you add a carport or garage?
- Give your property a general tidy up. If your block and house are neat and tidy and look well maintained, it is likely to benefit the valuation.