📊 Property Valuation: Know the True Worth of Your Property
Whether you're planning to buy, sell, or invest, understanding the value of a property is the first and most important step. Property valuation not only helps you make informed decisions but also ensures you get the best return on investment.
🏡 What is Property Valuation?
Property valuation is the process of determining the market value of a property based on several factors like:
- Location
- Size & layout
- Construction quality
- Age of the building
- Current market trends
- Amenities & infrastructure
It gives an accurate estimate of what a property is worth in today’s market.
📌 Why is Property Valuation Important?
- Fair Buying/Selling Price: Avoid overpaying or underselling.
- Home Loans & Financing: Banks require a valuation to approve loans.
- Investment Decisions: Helps calculate returns, rental yield, and resale value.
- Legal & Taxation: Used for property tax assessment and legal disputes.
Key Factors That Affect Property Valuation
- Location: Proximity to schools, hospitals, transport, and commercial hubs.
- Property Type: Residential, commercial, plot, etc.
- Age & Condition: Newer properties usually have higher value.
- Amenities: Pool, gym, security, clubhouse, etc.
- Market Demand: Prices fluctuate based on supply and demand in the area.