Decoration and Improvement Valuation
There are 2 most common valuation purposes for using decoration and improvement appraisal services in Thailand. First, when the accounts are recorded and updated which will be an improvement that has been done and used for example in the rental area which we should know the building condition before renovating and also know the list of the improvements or referring to the construction contract to be able to distinguish the types of work that has been done by using Depreciated Replacement Cost (DRC) as a method of determining the value. Second, an improvement of decoration that has not been conducted a valuation according to a plan yet as well the assembly list in order to know the renovation budget which will be applied to request for a loan for construction of project development or renovation. By doing this, the client must have the details of the plan such as built-in or loose furniture, assembly list with the material specification that can be conducted a market comparison, together with the Bill of Quantities (BOQ). Please note that having only a Concept Design Plan will not be enough to conduct the valuation.