How are property valuations done?

Author
MyProperty
South Africa's #1 independent property portal

Property valuations are best done by professionals that can take all the factors into consideration to determine the most accurate valuation of your property.

There are many factors that determine this, including but not limited to:

  • The price at which other similar-sized homes in the neighbourhood have been sold.
  • The price at which the property in question was last sold for
  • The state of the market.
  • Age and condition of the home.
  • The state of the garden, if one exists.
  • The quality of views from the home.
  • Security features.
  • Aesthetic elements such as flooring, furnishings, kitchen design and so on.

Here are some ways to value a property:

  • Hire an estate agent - This method is by far the most accurate method to use, as an estate agent has experience in property valuations and possess a vast amount of industry and market knowledge.
  • Use an online tool - It is possible to use online valuation tools and comparative market analysis tools but these are best understood by the professionals.