accurate and reliable property valuation services
across Australia
Welcome to Very Best Property Services
Your Trusted Nationwide Property Valuation Specialists
Why Choose Very Best Property Services?
Unparalleled Expertise
Our team of highly experienced and certified valuers brings in-depth knowledge and an exceptional understanding of the Australian property landscape. They continually keep abreast of market changes and trends, to provide you with accurate and trustworthy property valuations.
Nationwide Reach
With our extensive network of valuation experts across the country, we deliver our high-quality services regardless of your location. From the bustling streets of Sydney to the serene landscapes of Tasmania, Very Best Property Services is at your service.
Exceptional Customer Service
Our commitment to superior customer service is the cornerstone of our reputation. We're here to guide you every step of the way, ensuring a seamless and stress-free property valuation experience.
Comprehensive Services
Whether you require a valuation for residential, commercial, or industrial properties, tax accounting, or legal proceedings, Very Best Property Services covers it all. We offer a comprehensive suite of services to meet your diverse needs.
Our Services
Residential Property Valuation
Our residential property valuations are thorough, meticulous, and designed to help homeowners, prospective buyers, and investors make informed decisions.
Commercial and Industrial Valuation
We provide accurate valuations for commercial and industrial properties, assisting our clients in making strategic investment decisions and capitalising on market opportunities.
Legal Valuations
From matrimonial disputes to estate settlements, we deliver comprehensive valuation reports that are recognized by courts across Australia.
Tax Valuation
Our specialists provide in-depth tax valuation services to help you navigate tax-related matters with ease, ensuring you meet your obligations while maximising your benefits.
With offices across every state and territory, we are proud to deliver our premium valuation services nationwide. Our valuers understand the intricacies of local property markets, enabling us to cater valuations specifically to each location we service.
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Very Best Property Services
148 William St
Melbourne VIC 3000
Australia
Recent Articles
Non-Standard Home Valuations: A Comprehensive Guide
Valuing non-standard homes, including unique properties like heritage homes, acreage, and multi-unit buildings, requires a nuanced approach. These properties defy conventional valuation metrics due to their distinctive characteristics, history, or land use. This article explores the special considerations necessary for obtaining accurate valuations for such atypical properties.
Challenges in Non-Standard Home Valuation
Valuing a non-standard property is inherently complex. The uniqueness of these properties means that there are often fewer comparable sales to reference, and their special features may appeal to a niche market. Below are the key challenges faced in non-standard home valuation:
Limited Comparables
The scarcity of similar properties can make it difficult to find comparable sales data, a cornerstone of traditional valuation methods. This scarcity challenges valuers to look for alternative ways to establish a property’s value accurately.
Unique Features and Appeal
Non-standard homes often boast unique architectural features, historical significance, or extensive land, which can be highly appealing to certain buyers but not to the market at large. Valuing these features accurately requires expertise and sometimes creative thinking.
Special Considerations for Accurate Valuations
Given the complexities involved, certain special considerations must be taken into account to ensure the accurate valuation of non-standard homes:
- Understanding the Unique Appeal: A deep understanding of what makes a property unique and how that uniqueness adds value is crucial. For heritage homes, this might include architectural significance or historical importance.
- Expertise in Niche Markets: Valuers need expertise in the specific market segment of non-standard homes. This expertise helps in understanding the demand dynamics for unique features and how they influence value.
- Broad Market Analysis: A broader analysis of the market, going beyond local comparables to include regional or national trends in non-standard properties, can provide additional insights into a property’s value.
- Professional Networks: Utilising professional networks to gather insights on similar properties and their valuation outcomes can aid in making more informed decisions.
Valuation Methods for Unique Properties
For non-standard homes, relying solely on traditional valuation methods may not suffice. Here are alternative approaches to consider:
- Income Approach: Especially relevant for multi-unit properties, this method considers the potential income generation as a primary value indicator.
- Cost Approach: Useful for heritage homes, where replacement costs for unique architectural elements can inform value.
- Consultation with Specialists: Engaging specialists in heritage conservation, rural property, or other relevant fields can provide additional perspectives on value.
Maximising the Value of Non-Standard Homes
Owners of non-standard homes can take proactive steps to ensure their properties are accurately valued:
- Maintain Detailed Records: Keep comprehensive records of all renovations, restorations, and unique features of the property.
- Market Understanding: Having a grasp of how similar properties are valued and marketed can provide valuable insights when preparing for valuation.
- Professional Advice: Seeking advice from real estate professionals who specialise in non-standard properties can be invaluable.
Valuing non-standard homes requires a tailored approach that respects the unique qualities of these properties. By understanding the specific challenges and considerations involved in non-standard home valuation, owners and buyers can ensure that these unique properties are accurately valued, reflecting their true market worth. Whether it’s a sprawling acreage, a historic heritage home, or a multi-unit complex, recognising and quantifying the unique appeal of non-standard homes is key to their accurate and fair valuation.
CBD vs Suburban Commercial Property: The Difference in Value
The valuation of commercial properties varies significantly between central business districts (CBD) and suburban areas. This disparity is particularly evident in cities like Sydney, where the dynamics of location play a crucial role in determining property value. In this article, we explore the key factors influencing the value of CBD and suburban commercial properties, offering insights into their respective commercial values.
Factors Influencing CBD Commercial Property Value
High Demand and Limited Supply in CBD Areas
CBD commercial properties in Sydney and other major cities are highly sought after due to their central location and accessibility. Key factors include:
- Accessibility: Properties in the CBD are often well-connected with public transport, making them attractive to businesses.
- Prestige: A CBD address can carry significant prestige, enhancing the branding and image of businesses located there.
- Supply Constraints: Limited space in CBD areas often leads to higher property values due to the basic economic principle of supply and demand.
Impact of Infrastructure and Amenities
The presence of advanced infrastructure and a range of amenities also boosts the value of CBD commercial properties. Proximity to financial institutions, major corporations, and luxury retail outlets can significantly enhance property valuation.
Understanding Suburban Commercial Property Value
The Appeal of Suburban Commercial Spaces
Suburban commercial properties offer a different set of advantages that can be appealing to certain types of businesses and investors. These include:
- Affordability: Generally, suburban properties are more affordable than their CBD counterparts.
- Space Availability: Suburban areas often provide larger spaces, suitable for businesses needing more extensive premises.
- Community Focus: Businesses that benefit from a strong local community presence may find more value in a suburban location.
Role of Demographics and Local Economy
The demographic profile and the local economy of a suburban area can significantly influence commercial property values. Factors such as local population growth, income levels, and the presence of community amenities play a crucial role.
Comparative Analysis: CBD vs Suburban Commercial Properties
Varied Investment Opportunities
Investors often weigh the stability and prestige of CBD properties against the potential for higher growth rates in suburban areas. While CBD properties may offer more consistent rental yields, suburban properties can sometimes provide higher long-term capital growth potential.
Diverse Tenant Profiles
The tenant profile in CBD and suburban commercial properties typically varies, with CBD properties attracting larger corporations and suburban spaces appealing more to small businesses and local enterprises.
Navigating the Complexities of Commercial Property Valuation
In summary, understanding the nuances of commercial property valuation in CBD and suburban areas is crucial for investors and businesses alike. Factors such as location, infrastructure, demographics, and tenant profiles play pivotal roles in shaping the value of commercial properties in different areas. This knowledge is essential for making informed decisions in the dynamic Sydney property market.
Estimating Your Property Value Online
Why Online Valuations Are Gaining Popularity
With technology playing an increasing role in our lives, the real estate sector is not far behind. Online valuation tools make it easier than ever to get a quick estimate of your property’s value. However, understanding their limitations is key for accurate results.
Choosing the Right Property Value Calculator
Reputable Sources
Always opt for calculators from a reputable Melbourne real estate agency, financial institution, or property website.
Localised Tools
Choose an online valuation tool that takes into account local market conditions and recent sales data for the most accurate results.
How to Use Online Valuation Tools Effectively
Provide Detailed Information
The more details you can input, such as square footage, number of bedrooms, and location, the more accurate your estimate will be.
Use Multiple Tools
Don’t rely on just one property value calculator. Use multiple sources and then average the estimates for a more balanced view.
Understanding the Limitations
Generalised Algorithms
Most online tools use algorithms that may not account for the unique aspects of your property, like its condition or specific location.
Outdated Data
Some tools may use old sales data, making the estimate less reliable.
Factors That Online Tools Might Miss
- Home improvements
- Local infrastructure projects
- Current market trends
- Zoning laws
Verifying with a Professional
For a more precise valuation, it’s advisable to consult a certified property valuer who can physically inspect the property and offer a more comprehensive report.
Steps for a Comprehensive Online Valuation
- Choose multiple reputable online valuation tools.
- Input accurate and detailed information into each tool.
- Average the obtained values for a balanced estimate.
- Validate the online estimate with a professional valuation.
By understanding the pros and cons of estimating your property value online, you’ll be well-equipped to make informed decisions. Whether you’re looking to sell, refinance, or simply get a sense of your property’s worth, these tips can guide you through the process.
8 Ways to Legally Minimize Your Property Tax Burden in Australia
Paying council rates and land taxes is an unavoidable part of owning property in Australia. However, you’re not powerless when it comes to reducing your property tax burden. This article explores 8 practical methods to lighten your property tax load while remaining compliant with Australian tax law.
Understand Council Rate Valuations
Council rates are calculated based on your property’s valuation, so the first step is understanding how your council determines that rateable value. In most cases, it’s based on the unimproved land value, with improvements factored in occasionally.
Knowing this, you can take steps like appealing your property valuation to potentially have it reduced by council. Keeping an eye on any changes to the rate in the dollar set by your council can also help control your rates bill.
Claim Eligible Pensioner Discounts & Concessions
Most councils provide pensioner rate discounts to qualifying residents. The concession amount varies by state and territory but can be up to 50% off your total council rates bill.
Ensure you claim any pensioner or senior discounts you’re entitled to. Small savings add up over the year’s rates notices.
Explore Land Tax Exemptions
Australian states and territories levy land taxes annually, but various exemptions exist. For example, all jurisdictions exempt your principal place of residence from land tax.
Other common exemptions include primary production land, vacant land under a certain value threshold, and land owned by religious and charitable organizations.
Review the exemptions available in your state or territory and utilize any that fit your situation.
FAQs
What is property valuation?
Why should I get my property valued?
- To determine the current market value if you are selling your property
- To assess the worth of your property before purchasing insurance
- During divorce proceedings for asset division
- If you are investing in a property and want to determine its value
- When taking out a mortgage so the lender knows how much to lend
- To calculate capital gains tax or stamp duty when selling a property
- To ensure you are not overpaying if buying at auction
What types of valuations are there?
- Market valuation – The most likely sale price on the open market
- Insurance valuation – Values the rebuilding costs for insurance purposes
- Rental valuation – Estimates the property’s rental income potential
- Capital gains tax valuation – Values the property for capital gains tax calculations
- Stamp duty valuation – Required for stamp duty assessment when purchasing a property
How often should I get a valuation?
Most people get a valuation when they are buying or selling a property. However, you may also want to get periodic valuations every 2-3 years if you own a property. This helps you understand its changing value over time.
It’s also recommended to get a valuation after major renovations or additions, as this can significantly impact the property’s worth. A valuation may also be prudent after major economic events like recessions or booms.
Overall, regular valuations even when not buying or selling can help guide investment decisions.
What does the process involve?
- Initial consultation to understand your requirements
- External and internal inspection of the property
- Research into comparable property sales and local market conditions
- Analysis of property features like size, layout, condition etc.
- Application of valuation methods to calculate property value
- Provision of a detailed valuation report outlining important factors
- Review of draft valuation and final report delivery
How much does a property valuation cost?
Property valuation fees are charged by accredited valuers on a flat rate or hourly basis. Typical costs range from $200 – $500 for standard valuations. However, larger properties or complex valuations may cost more.
Factors impacting the valuation cost include property type, size, location, current market trends and the level of detail required in the report.
Many valuers provide quotes upfront so you know the exact fees payable. It pays to compare quotes from a few registered valuers in your area.
What questions should I ask the valuer?
- Are you a registered/licenced valuer?
- What is your experience valuing my type of property?
- What valuation methods will you use?
- Will the report outline the rationale behind the valuation figure?
- How long will the process take?
- What is included in your quote? Any exclusions?
- Do you provide periodic valuations if I don’t intend to sell soon?
What makes a good property valuer?
- Accredited qualifications and licencing demonstrating expertise
- Member of a professional valuation body
- Specialisation in residential or commercial valuations
- Local area knowledge and awareness of market conditions
- Strong analytical and report writing skills
- Ability to explain valuation details and methodology
- Extensive experience with different property types
- Professional indemnity insurance for your protection
- Excellent references from past clients