Order a valuation before renovation?

[chunho01]

I'm going to embark on my first ever renovation project to draw out equity to fund my next purchase. I planned to open up the kitchen to a newly fenced up sideyard.

Is my project milestone below advisable?

1. Order a valuation (previous valuation was only 8 months ago, during settlement)
2. Get quotation for fence; start fencing
3. Get quotation for installing French door
4. Buy right sized French door
5. Fence complete; start removing window and installing French door
6. Repaint wall with French door
7. Order a valuation; and depreciation schedule
8. Refinance $$$

 

[Jamie M]

I don't see much point in ordering a val before you start renos. It will provide a measure in terms of how much value your renos added - but it's the end valuation that's the important one. That will determine how much equity you can pull.

Cheers

Jamie

 

[Big Will]

Agree with Jamie, would only do the second valuation. The valuer for before anything would likely say the value is what you paid for it.