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Difference Between Residential Property Valuation And Commercial Property Valuation

Residential_PRoperty_ValuationBuying or selling a property is what makes the real estate industry one of the most important and active investment pots. However, a real estate assets can be of different types, and they also have different purposes. Depending on the type, need, location, and other aspects, the value of the asset change. This is why it’s of utmost importance that you go for a through property valuation before buying or selling it. Once you know the value of the house or commercial location, you can set the price for selling it. That implies for the buying of the property too. You have to know how much you should pay.

The Difference:

Every property can be used for different needs. There are generally two types of properties which are residential properties and commercial properties. Depending on the type, the process and considerations of the property valuation can be different. Apart from the type, the growth factor is to be considered for commercial assets. The size of the land is the first aspect of valuation of the property. Not all sizes of land can be suitable for the commercial uses. However, that doesn’t mean the same sized commercial and residential real estate cost same. The commercial places are used for money making purposes, and so it has some aspects that residential properties don’t. This is why this kind of property can cost higher than residential one, despite of being same sized.

The location of the property is another very important aspect of the commercial property valuation process. Both the residential and commercial properties have higher values with location advantages. However, the advantage measurements are different from these types of properties. The offices and commercial building have to have a location which can increase the outcome for the investors. The location must have the advantage of accessibility. It should be easily reachable and exposed to the targeted clients. The home and apartments must have different kinds of advantages. It must be located near the daily requirements like markets, transportation, and public services. This is why valuation of the property depends on the type of it and the location.

Commercial_property_valuationFor the properties with selling purposes, infrastructure is a very important aspect. The infrastructure of the property is to be valuated before you can determine the price of it. This is more important for the commercial properties. You have to aware how the need for infrastructure differs when it comes to different types of properties. The properties have a maintenance requirement too. That is a cost that is to be calculated by the property value. The property value drops down when the maintenance costs are higher. This is one thing that the residential property owners have to be more aware of.

Hiring Professional Property Valuation Services:

Many people think that they can evaluate a real estate at their own. However, it’s a very overwhelming process, and only the professional can get you the accurate value. Before you buy or sell a property, use the commercial property valuation services of a professional real estate valuers. They have the experience that is required to come up with right property valuation.

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One comment on “Difference Between Residential Property Valuation And Commercial Property Valuation

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This entry was posted on April 16, 2013 by in Commercial property valuers, Property Valuation and tagged , .
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