The comparative method of land valuation
Introduction
Land is one of the most important types of real estate. They can be used for a variety of purposes. such as housing, investment, or industry. Therefore. Land valuation is important to determine its market value.
There are many methods of land valuation. One of the most popular is the comparison method. This method aims to determine the value of the land based on a comparison of similar land prices in the area.
Methodology of the comparison method
The comparison method is based on the following steps:
- Identify similar lands: Initially. Similar lands that can be used for comparison should be identified. These lands must be similar to the land to be assessed in terms of location, size, use, and infrastructure.
- Gather information on similar lands: After identifying similar lands. Information needs to be collected. such as price, space, location, and infrastructure. The open data can be utilized from the Ministry of Justice website.
- Comparison procedure: After gathering information on similar lands. Their prices can be compared to determine the value of the land to be appraised.
Factors to consider when using the comparison method
There are several factors to consider when using the comparison method. Like this:
- Location: Location plays an important role in determining the value of land. The better the location. The value of the land increased.
- area: The area also affects the value of the land. The larger the area. The value of the land increased.
- use: Use also affects the value of the land. The more valuable the use, the more The value of the land increased.
- Infrastructure: Infrastructure also affects the value of the land. The better the infrastructure. The value of the land increased.
Comparative land valuation method for non-specialists
Here are some tips for applying the comparison method of land valuation for non-professionals:
- Start by gathering information on similar land: You can gather information about similar land by searching online or talking to real estate investors.
- Focus on the important factors: When making a comparison. Focus on the important factors that affect land value. Such as location, size, use, and infrastructure.
- Be flexible: Not all similar land may be an exact match for the land to be appraised. Therefore, so Be flexible in making the comparison.
Conclusion
The comparison method is one of the most popular methods of land valuation. It is an easy and simple method that can be applied by non-specialists. However, the Important factors must be considered when making the comparison to get an accurate result.
Keywords
- Land valuation
- Comparison method
- real estate
- Territory
- Real estate investment
- Market value
Additional tips
In addition to the tips above. There are some additional tips that can be followed to improve the accuracy of land valuation using the comparison method. Like this:
- Using a land valuation tool: There are several tools that can be used for land valuation. These tools can help make the comparison more accurate.
- Hire a real estate consultant: An experienced real estate consultant can be used for land valuation. A real estate consultant can help identify important factors to consider when making a comparison.
