Professional Home Valuation Must be Sought
Australians are falling woefully short of putting up a decent retirement nest egg. It is a sorry statement on our times that about half the Baby Boomers may have to work well into their 70’s to honour their retirement commitments.
Superannuation may not be enough and anyway we are managing far too low (men only about $85,000 and women $58,000 wherein something like $350,000 is required to eke out a decent post-retirement living). Where does this bring us?
Superannuation money not enough to retire in peace
It is beyond doubt that aged pension schemes and superannuation are not enough and sooner or later you have to fall on property investments. And why on earth will property investment be your manna from heaven? Well, not unless…..
Investors are biased about their home values
You know what you are proposing. Every investor thinks his property is worth the highest in the neighbourhood. This is because his biases and prejudices skew his evaluation of the property. When it is time to sell, he does not get buyers at the rate he thinks he should and he begins to regret the renovation or extension he made last month.
Home valuation from professional needed
This necessitates a professional home valuation from a professional. It helps you know your property’s worth from an observer’s point of view. This way, you can put money into renovation for fetching a higher value or you will know if you have overcapitalised by then.
A valuer never values close to your heart’s wish (can he?)
Valuers face a tough challenge from vendors, who always feel the valuation is a little tight. This said, the really competent ones stay on their course, stick close to the market rate, and keep the comparable sales figure in mind before giving something in writing.
Of course, they go through your entire home, its dimensions, easements if any, zoning protocol, fixtures and fittings and kerb presence, among other things for the purpose, too.
How do you undertake property valuation?