Darwin Building Replacement Cost Valuation
At Territory Valuers, we offer Building Replacement Cost valuations Darwin conducted by our specialised expert Valuers. Whether the property is a small residential block, or a large scale commercial high rise, we are able to provide you with a highly detailed and accurate property valuation report.
Why are Strata Building Replacement Cost property valuations needed?
Building Replacement Cost valuations are needed to determine the rate of building insurance to be paid. All owners’ corporations are required to have building insurance that covers the replacement and reinstatement costs in the case of damages to the building. The Strata Building Replacement Cost valuation provides the cost of replacing the exist building, accounting for potential factors such as:
- Demolition costs
- Removal costs of building remains or debris
- Any professional fees included in replacement
- Expenses needed to replace additional elements of common property- gardens, pools, car parking facilities, lifts, wiring etc.
As Strata Building Replacement Cost valuations are insurance valuations, ensuring you choose an independent and expert property Valuer is imperative. The accuracy of your property valuation report is the assurance that you are not over or underinsured.
In either case, if your report is not accurate it can cost you large amounts of money. If you are over-insured then your building insurance premiums will be higher than you need to cover replacement costs, and if you are underinsured you open yourself up to liability in the case of a disaster.
At Territory Valuers, you're in capable hands. Every one of our property valuers is a Certified Practising Valuer (CPV), accredited by the Australian Property Institute (API) and also holding AVI or RICS qualifications, with a minimum of 20 years’ industry experience. As an independent valuation company, we pride ourselves on delivering unbiased, agenda-free assessments that you can trust.
Building Replacement Cost Valuation Darwin
It is recommended to obtain a Strata Building Replacement Cost property valuation every few years in order to ensure you are properly covered in case of damages caused by natural disasters or other damages. This is especially important to consider in times when the property market goes through major changes, as the valuation of your property will change as well.
If you require a Strata Building Replacement Cost valuation, unit entitlement valuation or have further questions, please contact our team on (08) 7918 0858 or fill out an online form. We will get back to you soon!