Owning property can give you a lot of financial security because when it is paid off you are guaranteed a place to live and won’t need to worry about rental payments or interest rates. Any income that you earn will be yours to spend however you want. In other words, owning property can give you a lot of freedom. With that freedom comes responsibility. Taking care of a property is a huge commitment and you will need to carry out periodic renovations and repairs to ensure it remains in good condition for as long as you live in it or own it.
When you own property you should get it valued periodically so you know exactly what it is worth. Knowing what it is worth will give you information about your financial position so you will be able to make future financial decisions such as whether or not to renovate your home or rent it out if you aren’t living in the property.
Why you should get an internal accounting valuation
Valuations ACT details with many clients from a variety of different backgrounds and we can value all types of property including, but not limited to:
Commercial property;Office space;Residential property;Retail property.
Over the years we have discovered that many of our clients require a valuation when they are assessing their financial position. A good way to know the state of your finances is to get your property valued. When you get your property valued you will know how much equity is in the property and if there is enough equity then you will be in a position where you can purchase another property if you want to and you will have the ability to increase your wealth. You may also want to get an internal valuation for other purposes such as:
Accessing the equity in the property;Estimating your future CGT obligations;For general personal interest;Making a decision about whether or not to hold onto the property;Making a decision on whether or not you should rent it out;If you should refinance;If you should hold onto the property or sell it.
If you plan to use the equity in your property as security when purchasing an investment property then an internal accounting valuation will let you know the state of your finances and how much you can afford. It will also avoid situations where you look at a property and then later discover you can’t buy it because you don’t have enough equity in your existing property.
Knowing the value of your property also gives you an idea of what your capital gains tax payment obligation will be so you can plan for your financial future.
Why choose Valuations ACT?
Valuations ACT are property valuation veterans and have over 20 years of property valuation experience. We also have Australian Property Institute membership and comply with the Australian Capital Territory legislation giving you confidence when you request a valuation from us. We only employ property valuers with a proven track record who have completed a minimum of 20 years in the industry. Our property valuers are committed to delivering the best possible customer service and we’ve established excellent quality control procedures over the years so if you would like a property valuation give us a call on (02) 6189 2232.