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FACTORS AFFECTING VALUATION (BUILDING PROPERTY EDITION)

 

Earlier we looked briefly at land valuation, and just like land, when it comes to building property valuation, all determinants are categorized under location related factors and economic factors, which addresses the issue of property demand and supply, now looking in debt at some of these factors when it comes to building structures, we also find some things interesting:

1      ARCHITECTURE QUALITY:

This is what determines the initial public offer in valuation before any other factor is considered, the architecture style from interior to the surrounding landscape, and most especially the building’s design exterior.

2     USABLE SPACE:

This is referring to the actual usable space minus circulation, this is as a result of poor spatial design allocation within most buildings, especially when you come across a 200 square meter property having only 100 square meters of usable space, at Built-Advice, we believe for residential buildings, circulation spaces should not consume more than 25% of the entire floor area, contact us for more details and inquiry.

3     RENOVATION POTENTIAL:

This factor is most common to commercial and old building property valuations, as it can limit or open up investment options, opportunity and potential of a building property, which in turn will either kill or improve your valuation.

4     PROXIMITY TO AMENITIES:

Finally proximity to different types of amenities, most importantly domestic, health and social, read past posts under title “WHAT TO CONSIDER BEFORE INVESTING IN REAL ESTATE”, you should get related explanations making you know more about real estate investments.

If you are in need of help or want to make some inquiries, feel free to send a direct message or put a call through using the cell digits provided, and you will get direct access to one of our professional consultants.

Thanks for reading

Do have an awesome day.


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