ONYX PLACE.

Onyx Place Flats/Apartments - 3 bedrooms and 3 bedrooms +Dsq apartments for sale located on Mukiri Rd, Uthiru Off Waiyaki Way. The Onyx Place Apartme [...]

KSh9,900,000
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Zep Re Place.

Zep Re Place is located within the Upper Hill along Longonot Road, Nairobi and East Africa's hub where leading banks and Insurance firms have moved th [...]

Lonrho House.

Lonrho House is a commercial building located on Standard Street/Kaunda Street, Nairobi. Standing 20 floors at the center of the CBD. Prime office spa [...]

KSh125 Psq Per Month
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Arnold Plaza.

This is an ideal commercial office space strategically located along Woodvale grove, in Westlands - Nairobi. It is strategically located with easy acc [...]

KSh80 Psq Per Month
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KCB Simba Auditorium.

KCB Simba Auditorium is conveniently located 10 minutes away from the Nairobi CBD in the richest square mile called Upper Hill, a serene environment w [...]

KSh1,800 Psq Per Day
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THE WELL.

The Well, This is a commercial development (shopping mall) located along Langata road, Karen area of Nairobi. It is situated approximately 300 mete [...]

KSh235 Psq Per Month
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Cardinal Otunga Plaza Annex.

Cardinal Otunga Plaza Annex, is a new commercial  office development located at the heart of Nairobi central business district(CBD), along Koinange,K [...]

KSh100 Psq Per Month
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K C B Jogoo Road.

K C B Jogoo Road, is a commercial development, strategically located along Jogoo Road Space available from as little as 540 sqft to as much as 2546 [...]

KSh50 Psq Per Month
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AEA (Association of Evangelicals in Africa)Centre.

AEA is a commercial complex situated along Valley Road with excellent frontage,visibility, tranquility and accessibility. It  is close to a myriad of [...]

KSh100 Psq Per Month
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Vision Plaza.

Vision Plaza, is a commercial development  along Mombasa road of Nairobi , a new Nairobi’s commercial area, it is strategically located with good a [...]

KSh85 Psq Per Month
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KCB Towers.

KCB towers, is a Grade A commercial development set in Nairobi Upper Hill Area. Strategically located within Upperhill, the new Nairobi's commercia [...]

KSh100 Psq Per Month
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Watermark Business Park.

Watermark Business Park, is a Grade A commercial development set in the pristine Karen Suburb. Strategically located at the junction of Lang’ata [...]

KSh120 Psq Per Month
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KSh
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Property Valuation.

January 4, 2019

Why Property Valuation

Well, although you may not be looking to sell your property yet, getting your property evaluated will help you gain important information about your property. In fact, a property valuation can be  helpful in knowing the actual worth of your principal asset.

Planning for a Renovation: When you want to consider a renovation project for your home such as adding a new pool or backyard area or home interiors, a property valuation becomes imperative.

Property renovation process can get costly and it is essential to keep an eye over the budget so that you don’t overcapitalise (for instance, it’s not a wise decision to add a modern swimming pool to a house property that is having a low resale value). You can get your property valued from a reliable property valuer and ascertain the accurate value of your property.

Buying a Second Property for Investment:
If you want to buy a second property just for investment purpose then your equity in your primary property can act as the collateral for the purchase.

Generally, banks will lend over eighty percent of the purchase price of an investment property when you use your property as collateral.

A property valuation will let you know how much equity you possess in your property, and accordingly how much loan you will be able to acquire for buying your second property.

Refinancing Your Primary Loan: If your home property is mortgaged and your original loan term is ending or you’re looking to switch products or lenders, a property valuation becomes crucial.

Depending on the lender and your own preference, a property valuation can be performed either through a property valuer of your lender’s choice or a third party.

You may want to switch to a loan product that provides a lower rate of interest that could result in significant savings eventually, change an interest-only product for a principal and interest arrangement. Property valuation will give you grounds to discuss better terms with financing institutions.

Oftentimes, real estate market experiences a notable growth, which means likelihood your home/property may have accumulated value.

In case, your home/property hasn’t accrued value, once you know your its value, you’re in a better position to make financial decisions moving forward.

In addition, a valuation will facilitate you to make a will that hands-out your property as per your wishes.

You can opt to have an informal or formal property valuation depending on the purpose of the valuation.

If you just want an estimate to know your property’s net worth or find out whether selling would benefit you financially, a real estate agent can normally provide you with decent approximation about your home property’s value on the open market, for more accurate estimate and advisory contact a valuer.

If financial institutions need to perform a mortgage or refinance, they will organise valuations.

Finally and importantly, you can also hire an independent, qualified property valuer for evaluating your property.

Author

Nwrealite.

customercare@nwrealite.co.ke

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