Rebecca Gutierrez

The different types of strata valuation

Strata Valuation are essential for understanding the true value of your property, as they take into account the specific features and amenities that your strata scheme offers. There are three main types of Strata Valuation : replacement value, depreciated replacement value, and market value.

Replacement value is the cost of completely rebuilding your property from scratch, taking into account the current price of materials and labour. This is the most accurate way to assess the true value of your property, as it reflects the actual cost of replacing it.

Depreciated replacement value takes into account the wear and tear of your property over time, as well as any changes in the market that may have occurred since it was built. This valuation method is typically used by insurance companies to calculate premiums, as it provides a more realistic assessment of the property’s value.

Market value is the price that your property would fetch on the open market, taking into account all of the unique features and amenities that it offers. This is the most commonly used type of Strata Valuation, as it provides the most accurate indication of what buyers are willing to pay for your property.

It’s important to understand the different types of Strata Valuation, as they all provide different insights into the true value of your property. Replacement value is the most accurate way to assess the cost of rebuilding your property, while depreciated replacement value takes into account the wear and tear of your property over time.

Market value is the most commonly used type of Strata Valuation, as it provides the most accurate indication of what buyers are willing to pay for your property.

Rebecca Gutierrez

What factors are taken into consideration during strata valuation?

When it comes to valuing a Strata Valuation, there are a number of factors that need to be taken into consideration. Here, we take a look at some of the key things that will impact the value of your property.

The location of your Strata Valuation property is one of the most important factors that will affect its value. If you’re located in a desirable area, close to amenities and with good transport links, your property will be worth more than one that’s located in a less desirable area.

The size of your property will also affect its value. Larger properties will generally be worth more than smaller ones, so if you’re looking to add value to your Strata Valuation property, increasing its size is a good way to do it.

The age of your property will also have an impact on its value. Older properties will generally be worth less than newer ones, so if you’re looking to add value to your Strata Valuation property, renovating it or adding an extension can be a good way to do it.

The condition of your Strata Valuation property will also affect its value. If your property is in good condition, it will be worth more than one that’s in poor condition. If you’re looking to add value to your property, carrying out repairs and renovations can be a good way to do it.

The amenities that your Strata Valuation property has will also affect its value. If your property has desirable amenities, such as a swimming pool or a gym, it will be worth more than one that doesn’t have these things.