While the selected valuation method plays a vital role in determining a property's value, various factors can influence it. Key factors include:
- Location: The property's location, including its proximity to amenities, schools, transportation, and desirable neighbourhood’s, significantly impacts its value.
- Size and Condition: The size, layout, and overall condition of a property, including renovations and upgrades, can influence its value. Well-maintained properties generally command higher prices.?
- Market Conditions: Real estate markets experience fluctuations, and property values are influenced by the dynamics of supply and demand. Factors such as economic growth, interest rates, and housing market trends play a role in property valuation.?
- Unique Features: Properties possessing distinctive or desirable features, such as waterfront views, architectural significance, or historical value, often carry a premium.
