A registered valuer can really add value
At some stage in your build process, you will most likely need to get a market valuation completed to satisfy your lender. This will inform them that what you are building will provide sufficient security for the money they are lending you.
Traditionally, this valuation occurs once plans are drawn, building consent is granted, and a good chunk of your money has been spent. Undertaking a valuation at this stage means that if the numbers do not add up, ie. your cost to build is more than the assessed market value and what you are able to borrow, then you are back to the drawing board and likely to incur more design and consent costs.
However, if you involve a Valuer at the concept stage of the process, to assess the value of your planned build, then there is still time to tweak your concept with a minimal impact on your budget.
In addition, Property Valuers spend all day looking at houses and analysing how much they sell for and why. They can provide expert advice on the optimal build for your budget and location - is it worth adding a flat to your home instead of a garage? Is it worth adding energy efficient features? Should you have three bedrooms? Or four?
For most of us, the family home is our biggest asset and you may only build once or twice in your lifetime. It’s worth getting expert advice early in the process to save both time and money and to ensure you are getting the most from your new home.
Valuation Partners is a specialist valuation business working across Queenstown, Wanaka and Canterbury, staffed by self-professed ‘property geeks’ who are passionate, approachable and knowledgeable about all things property. Feel free to contact them to discuss your plans and how they can help you make great property decisions.
Lisa Deasy Ph 021 294 4690, firstname.lastname@example.org
Kate Gibson Ph 021 878 441, Kate.email@example.com