Housing Valuation

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    The majority of home appraisal in Thailand is to request for a loan or home mortgage. The second most common valuation purpose is for setting the selling price. Free home appraisal or second-hand home appraisal can be done by yourself using 2 main valuation methods which are ‘Market Comparison’ and ‘Cost Approach’. If the house is located in the housing estate, a market comparison will be used to calculate the value while a cost approach will be used for price reviews. On the other hand, if it is a house built for specific purposes outside the development project, a cost approach will be applied by taking the market price of the land together with the cost of building construction which already deducted the depreciation cost, becoming the cost of a house plus land. Our recommendation for those who would like to make a free home appraisal by yourself in order to know the price simply. If your house is located in the housing estate, our suggestion is to survey all the houses in this project to see how many units have been offered for sale. After that, make a comparison with your house one by one. The 3 important factors that you should bring to the table for comparing are the land area in square wah, building area in square meter and other building improvements. By doing this, you will be able to know the approximate price of your house without spending or wasting any money which is also known as ‘free home appraisal’. Last but not least, only hire the valuation company when it is necessary such as when the official valuation reports are required.

 


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