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 Elite Veteran
Posts: 902
 
Location: Qld Australia | Hi, I have to get my property evaluated and I am asking for help on what I focus on when the evaluator comes.
I have 60 acres with a pretty ordinary house. We have been here four years and sunk a lot of money into the property (there is still a LONG way to go) and have done practically nothing to the house, pretty much all I have done is have to security door put on and they cost over $1000. Will the house be what the evaluator focuses on?
For example, there were no internal fences when we came here and the boundary was 3/4 standing. We now have 6 1 acre paddocks fenced for horses, the tall upright steel posts have been cemented in for lean to shed in each of these but the roof and trusses etc have not been fitted. There are four about 15 acre paddocks also. Two of these we grow hay or run youngsters depending on the budget and weather. There are two stallion paddocks with auto water. One sheep paddock with auto water. Five pig pens with pig waterers. When we arrived the bore was not equipped. We have a brand new pump on it and have about 600m of poly pipe underground and all the above paddocks have underground piping to them for water.
We have built a cutting pen out of cattle rail, flitches and rubber. Started but not finished cattle/back yards as part of this set up. We also have dog pens for working/hunting dogs.
I am literally in the middle of sinking a bore maximum 200m from the house and the water has tested at 60ms. Tank water is tested at 0ms so that is very exciting. We have the pump to go on this bore, we will just have to purchase some pipe when it is finished so that we can pump water to the house tanks.
So - will this be a bonus to increase value in the eyes of an evaluator or is my very ordinary house going to be my downfall?
Thank you in advance if anyone can help me, I am tied up in knots over this. (Figuratively, not literally lol.) |
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Elite Veteran
Posts: 902
Location: Qld Australia | OK if we have no evaluators, do we have anyone who has dealt with one and can give me some tips? Thank you!!!! |
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| Is this person evaluating your property for taxes or a future loan you would like to make??
You would want to treat them entirely different here in the USA .. LOL .!!
Edited by BARRELHORSE USA 2013-12-16 10:57 PM
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Elite Veteran
Posts: 902
Location: Qld Australia | It's to refinance which in turn would free up more money which would then be put back onto the loan making it be paid off faster. 
The internet has been no help. All I could find was a reference stating sometimes evaluations can be made just from the street without even entering the property. |
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  Potato Soup Queen
Location: Alabama | It's hard to give you an answer since you don't live in the U.S.A. but, normally (and I am a Realtor) they put more stock on the value of the home than the land or outbuildings. |
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Elite Veteran
Posts: 902
Location: Qld Australia | Darn, that's what I thought you were going to say. We are in a rural community though and being a farm we have done improvements on the actual property. Horse people would love it lol.
I would think evaluators anywhere would be looking for similar things. I doubt location would change much except city v's country. Could be wrong though, it wouldn't be the first time.  |
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 Ima Fickle Fan
Posts: 3547
Location: Texas | Farrierlady - 2013-12-16 11:25 PM It's hard to give you an answer since you don't live in the U.S.A. but, normally (and I am a Realtor) they put more stock on the value of the home than the land or outbuildings.
This.
Australia may be different, but I doubt it. Buyers may focus on improvements made outside, but appraisals won't fully reflect the amount of work you've put in. The improvements may reflect somewhat in the value per acre, but the highest return for money invested will be in home improvements. |
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 Experienced Mouse Trapper
Posts: 3106
Location: North Dakota | Hmm, If I were you, I would point out those improvements to the evaluator. Here in order for an appraisal to be a good one, they must find 3 properties of equal "stature" to that have recently sold as a good comparison. With that said, the last 2 houses I have sold or refinanced have been "exceptions" Mostly because with the improvements we made (one was adding a double garage on a small house-the other was the buildings, fencing, arena) there are no comparables and therefore the appraisal comes in higher than expected. Good luck, now start improving that house a little at a time.
On a side note, when the county comes to appraise, we tend to keep quiet, the less they know the better "is your garage heated?" Umm no (but they are standing under the garage heater!!!) |
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OT -Any property evaluators out there? HELP!