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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