Alieu had his warehouse valued five years ago. He assumed that number still held. It didn’t, not even close.
Property values shift with the market, with renovations, and with wear. Treating one valuation as permanent is one of the more expensive assumptions a business owner can make.
When a Revaluation Is Worth Doing
- Every 3 to 5 years, as a baseline
- Before refinancing or applying for a new loan
- After any major renovation or expansion
- Before selling, leasing, or bringing on an investor
- After a significant shift in the local property market
What Happens If You Skip It
An outdated valuation can quietly cost you in two directions. Undervalue your property, and you under-insure it, or leave money on the table in a sale. Overvalue it, based on old numbers, and a bank or buyer’s own valuer will catch the gap, and the deal slows down or falls apart entirely.
A Simple Rule of Thumb
If you can’t remember your last valuation date, that’s usually a sign it’s time. Treat it the same way you’d treat a health check, not urgent until it suddenly is.
What a Revaluation Actually Costs You
A professional revaluation is a small cost compared to what’s at stake. Weigh it against a lapsed insurance policy, a rejected loan application, or a sale price that leaves money on the table, and the fee becomes easy to justify.
Most businesses can budget for this the same way they budget for annual filings, a predictable, recurring cost rather than a surprise expense that shows up right when you need financing fastest.
Alieu now has his property revalued every three years, on a fixed schedule rather than waiting for a reason. It costs him a small, known amount each time, and he’s never again been caught off guard by a number that no longer reflected reality.
It’s a small line item on his annual budget now, easy to plan for and easy to forget about once it’s done.
Not sure if your valuation is still accurate? JS Morlu can tell you quickly whether it’s time to update it. Talk to our team.