Category Archives: Property Valuers

Is there any difference in property value and property worth?

Buying and selling of any property in real estate bring two terms along with it, which creates confusion among the people. So here in this post we will tell about those two terms i.e – Property worth and property value.

“Property worth” is the term used to denote the cost of the property in monetary terms.
Whereas “Property value” is the broader term that is enclosed by the cost and emotional feeling attached to the property. It can also be understood as “importance”.

Property’s worth can be estimated based on the comparables and market data, there is no need to visit the real estate property.

But while finding the real estate property valuation, viewing and assessing the property becomes necessary. It matters a lot to check the condition of the property and knowledge of the market condition.

Property worth is the cost decided between the willing buyer and seller at which they are ready to make the transaction. Supply and demand plays a vital role in determining the price or worth of the property. When supply is high, demand decreases and price of the property decreases.

When supply is low, demand increases and property price also increases.

When we talk about property’s value then it is an opinion for the property at which it would sell for taking the features and benefits of the property into consideration.

Say for the worth or price of a house is $ 1,50,000 but its value may get varies.

As the house owner may feels that open living area with side pool may carriers more value.

But on contrary the buyer will not find it more useful and place less value for it. Value varies among the buyers. For example – Some place near the airport, values more because family members have to travel frequently via air. So the place near the airport values more to them not to the others. On the other side a buyer does not know the how to drive and does not possess any vehicle then for that buyer property near the bus line or from where public transports are easily available is more valuable to that buyer.

The word “Value” in real estate indicates the significance and importance of the property. House that you have built may carries more value to you because your heart, money and resources are involved in it. But to other it may not carry such significant value as for him it is a materialistic property made of concrete and cement.

There are two “Values” in real estate –

Appraised value and Market value are the two ways of determining the property value.

Market value of house is valued by the professional and qualified property valuer, who takes the complete inspection of the independent house by keeping the market condition into consideration and then evaluates the accurate house value with the help their knowledge and strong analytical skills.

Whereas as appraised value is estimated by real estate property agents who are not qualified valuers. Just on the basis of experience and previous sales history they predict the property value. Which is not authentic one.

Residential Property valuation is imperative for right financial decisions. So it is recommended to have the house valuation or property valuation with the experienced property valuer who possess the great working experience and updated market knowledge.

How much is the actual worth of my property today

The actual worth of any property can be estimated by the expert and professional property valuer not by your real estate agents. There is a misconception among people that –

Why to hire a property valuer, when we have a real estate agent with us?
Why to pay a property valuer when on a single request you can know property value from agents?

Guys, there is something vital you need to understand. We would start from the basics – There are two terms property value and property appraisal.

What’s the difference between Property value and property appraisal –
The difference between the two is – One is the professional way to know the value of the property whereas other one is not the professional way.

Property value is the current market value of the property keeping the influencing factors into consideration, it is calculated precisely by the professional who is expert in this field. This profession requires knowledge about market conditions, good analytical and judgmental skills, keen observer, can study well the previous sells history and work experience. Thus the valuer can draw the accurate property valuation figures along with the detailed property report which carries the complete information of the property that is valued. Even for this professional service, you have to pay valuer’s fees.

On the other side, property appraisers are the real estate agents who can predict the value of property by experience and previous sales. Neither they don’t do much calculations nor they are going to provide you a property valuation reports. In general they don’t charge any fees just on a request they provide their appraisal help.

Now the question arises – How much is the actual worth of my property today?

Why ‘today’ is being added in this? Once you have find out the property value than what’s the need to evaluate the property again?

Property value is the number value that is inconstant in nature. The obvious reason behind this is, it changes frequently. Reason, the factors on which it depends changes. So directly it brings an impact on property valuation figure.

That’s why whenever you think to sell the property think about the valuation services first, ask the valuer to find the current market value of your property and then sell it accordingly otherwise you may have to go through some financial losses.

Find some valuers in your town, ask them to visit your property and with in a week or few days they will give you a complete property valuation report which includes –

  • Address with pincode of the property.
  • Name of the property owner.
  • Council Zoning of the property.
  • Location and neighbourhood of the property.
  • Description of the building and premises.
  • Additional facility available in the property
  • Renovations details
  • Colored pictures of the building.

Knowing the right value of your house is a boon. As it contributes in making the financial decisions. Otherwise, it may leads to financial losses. Hiring a valuer is an investment you make to get good ROI. So Hurry up.. What you waiting for? Contact property valuer and know the actual worth of your property today.