There are a number of reasons why you might wish to get your property valued. The first is to get a clear idea of its house market value prior to selling - so you don’t get any nasty shocks further down the line!
If you’ve lived in your property for a number of years and made improvements, the chances are that its recommended asking price will have increased - but this isn’t always the case.
Your property price estimate will depend on the country’s housing market, any changes that have occurred in your neighbourhood (for better or worse), the success of any adaptations you’ve made to the home and any structural issues that are now affecting the building.
Having a clear house value estimate to hand will help you to determine how much you should be spending on the sale - and on any new property you are thinking of buying. A low estimate will mean that you may have to be more frugal, while a higher one suggests that you might end up with a bigger budget.
Another good time to get a house valuation is prior to refinancing. Most lenders will arrange for their own property estimate but having a second opinion will help you to be better informed and may put you in a better position to select the right provider.
You might also wish to get a real estate valuation prior to making a will, to help you understand the monetary worth of the asset you are bestowing and to ensure that you will be distributing your estate fairly.