Reval. after settlement, paint job and general cleanup

[Highlygeared]

Hi guys

has anyone successfully revalued their place up by 10-20%...or more immediately after settlement..and after performing some really minor repairs, yard clean, steam clean paint job?

If so, how do you fancy my chances using the exact same valuer who valued the place when i purchased it last month? Ive got no choice here. Either them or no val according to the Bank.

Thanks

 

[Rixter]

If you dont give it a go you'll never ever know.. For the small cost involved in a quick rejuvination its still money well spent.

 

[wylie]

Just make sure you get to speak to the valuer to tell him that you have made some improvements so that he actually goes into the house and doesn't just assume nothing has changed. Otherwise, he may just do a "drive past". This has happened to us before.

Wylie

 

[WBG Redcliffe]

The chances are good providing there is a real difference. I purchased a reno IP April 06 164k bank val and purchase price. After 17 loads to the dump, new paint, curtians, light fittings, A/C, Fence, carpet, vinyl, and 3kg of plaster the rent went from 170p/w to 225p/w and the new val July06 (same bank) was 220k.

Wayne

 

[Les]

Reno the "comps" !!

Sometimes just providing a list of "comparables" that have sold can raise the valuation. But this would depend on whether the place was "under-valued" previously (I'm sure I'm not alone in having had this happen).

In a fast-moving market, it could end up being lots cheaper than an actual reno. And even more effective(??)

Regards,

 

[CairnsAgent]

I agree with Les, I have gone into a property thinking it is reno time, then done a comparative market analysis to find I have picked up 10% on valuation without doing a thing because of recent sales...saved money and time! A coat of paint later and the reval, only 3 months after purchase went from 270k purchase to $315k total cost? $380 for bank valuers and about $400 at bunnings for paint...it can happen in the right market!

cheers