How often should you re-value a property?
It is advisable to re-value a property about once a year to track market changes, and systematically before any sale, as a price can quickly become disconnected from the market. A re-valuation is also called for at key events: inheritance, gift, divorce, major work or a change of DPE.
Regular monitoring of your assets
The property market changes constantly under the effect of credit conditions, local supply and demand, and the economic climate. A value set two or three years ago may no longer reflect anything today. For simple asset tracking, an annual re-valuation is a good rhythm: it keeps an accurate view of the property's value without multiplying procedures.
Regularly consulting the DGFiP's DVF database to see recent sales in your area is a simple, free way to sense the trend between two formal valuations.
Re-valuing before each sale
Before putting a property up for sale, a recent valuation is indispensable. A price carried over from an old valuation may be too high, and an overvalued property stays on the market for a long time, becomes "burnt" on the market and often ends up selling below its true value after several reductions.
The valuation must reflect the exact state of the market at the time of listing, the demand pressure in the area and the observed time-to-sell. This is the moment to cross-check several opinions and, where appropriate, the freshest transaction data available.
The events that require a re-valuation
Beyond periodic monitoring, certain events trigger a need to re-value, sometimes for legal or tax reasons.
- An inheritance or a gift: the property's value must be declared to the tax authority, which requires an up-to-date, justifiable valuation.
- A divorce or a division of assets: dividing the assets requires a value that is agreed or appraised.
- Major work or an energy renovation: they change the condition, the performance and therefore the value of the property.
- A new DPE or a regulatory change affecting energy-hungry homes, which may change the market value.
- A marked change in the local market (a sharp rise or fall), which makes the old valuation obsolete.
Frequently asked questions
Does a valuation have a period of validity?
A valuation has no legal period of validity: it reflects the market at a given moment. In practice, beyond six months to a year, it deserves to be reviewed, as the market and the economic climate may have changed appreciably in the meantime.
Should you re-value after work?
Yes. Major work, particularly an energy renovation that improves the DPE class, changes the condition and value of the property. A re-valuation makes it possible to reflect this change before a sale or a declaration.
Why re-value for an inheritance?
Because the value of the property transferred must be declared to the tax authority for the calculation of duties. An up-to-date, justifiable valuation, backed by comparables (notably via the transaction-search tool on impots.gouv.fr), secures the declaration and limits the risk of reassessment.
Read next
- impots.gouv.fr - Rechercher des transactions immobilières (ex-Patrim), usage successions et IFI
- DGFiP - Base DVF pour le suivi des ventes récentes
- Service-Public.fr - Droits de succession et évaluation des biens
- Notaires de France - Évaluation d'un bien dans le cadre d'une succession
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