One can also consider the age of the building to determine the value of the building. We all know that virgin houses command a higher rental price than old buildings.. So many people prefer new houses and the forces of demand and supply fixes the pricing.
What are the metrics used to value a building?
- Thread starter Niyi Briggs
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- #22
Also, the kind of buildings play important role in determining the value of that building. A commercial building like a shop has a higher value than a residential building of the same characteristics.
Metrics used to value a building are much but few of them are firstly, the location at which the building is located, the cost of the land per plot of that location will be considered, and also it's proximity to the road , the cost of the building itself ,that is the amount you will spend in building from scratch at that particular time you will to sell it and also the facilities, furniture's in the building.
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- #24
Proximity to any social infrastructure is also a viable parameter to value a building m. That is why the price of a building both for purchase and rentals would suddenly go up when something like an airport has been approved to be sited in that area.
The location of the building is the biggest metric that is used to value a building.
