Whether you need a valuation survey before buying or selling a property, or for the purpose of financial planning, you may be wondering what the process entails. The survey involves a thorough examination of the property in order to determine its current market value. This is carried out by a qualified surveyor who assesses various factors ranging from the property’s condition and features to its size and location. Read on to find out what’s involved in our valuation surveys in Essex.
Inspection of the property
At the heart of the valuation survey is a detailed inspection of the property. A surveyor will assess every aspect of the building both internally and externally, from its physical condition to its unique features. They will examine the structure, quality of the materials and finishes, and the standard upkeep of the property. They will also aim to identify any visible defects that could impact its value. This comprehensive inspection allows the surveyor to gain a thorough understanding of the property’s overall state and provide an accurate assessment of the market value.
Taking measurements
The surveyor will take accurate measurements of the property to determine its total floor area. The dimensions of your property play a key role in its valuation since its size directly influences its market value, with larger properties normally commanding higher prices. At Hair & Son, our surveyors can take meticulous measurements of your property to ensure that the valuation we provide reflects not only the property’s condition but also its size, contributing to a comprehensive assessment.
Assessing the location
During the valuation, the surveyor will consider the property’s location, taking into account various factors ranging from local amenities and transport links to schools. Any factors that contribute to the desirability of the area will be considered since they can significantly influence the property’s market value. Positive upcoming developments or planned infrastructure projects in the area can improve property values, as can a thriving local economy with plenty of job opportunities.
Analysing similar properties
An important step in determining a property’s market value involves the surveyor analysing comparable properties that have recently been sold or are currently on the market in the area. By examining recent sales data and current listings of similar properties, the surveyor can gain valuable insight into the present market conditions. This thorough analysis offers a comprehensive understanding of how a property compares to others in terms of factors like size, condition, and unique features.
Once our surveyor has gathered all the required information, we’ll generate a report which will make up the valuation survey. This will detail our findings and the property’s market value. To find out more about our valuation surveys in Essex, get in touch today. We’re on hand to discuss your requirements with you in detail.