Annual Property Valuations

Hi there

just wondering for those who get a professional valuation on their property annually, do you have a specific date that you choose?

E.g date when offer was accepted / date when you settled on the property or other?

 

I’m not sure most people would do this annually, it’s an expense that you don’t usually need unless you need to refinance etc. most people would use comparable sales until they need a proper valuation for a reason.

 

Fund managers, property trusts & govt only value ⅓ of their properties each year. Any more frequently is just ineffective.

 

For what purpose? Might be fun to stick it into a graph or something, but otherwise it doesn't mean anything.

 

It's usually the banks that require valuation and generally only if the market has drastically changed or you are looking at a increase in borrowings.
Even then they usually only cherry pick the top few not the ones with the low values.

 

Thanks you for the responses.
I guess it may be more of an ego thing to understand the annual return I achieved over the past year.

thank you for taking the time to provide your inputs.

 

Suggest you focus on the boring stuff. Learning about finance, offsets, tax etc and if you are looking to do renos look for cheap suppliers, good tradies etc.

Returns over a year, especially of it’s just buy and hold, doesnt mean anything.

what if your property goes down? You dont want to obsess too much about it if you arent looking to sell or refinance.