Real estate valuation of the important steps, but must be available
Some important factors Perhaps the most important stage of the purchase
of the property is the evaluation of the property, the fact that most of
those wishing to buy an apartment or villa hasThey
do not have experience in how to evaluate real estate, and although we
always recommend using an experienced real estate appraiser, these tips
may help evaluate real estate during the search period through MAP. For example, when you visit the Kuwait real estate map, we notice that
there are many properties, and some of them may be priced above the
market price, thus increasing the importance of knowing the principles
of real estate valuation to make sure to make the right buying decision.Experts gather that there are three main ways to evaluate real estate:Comparison with similar properties newly sold in the same area:This
method is a set of procedures where the value index is extracted by
comparing the property under valuation with similar properties that were
recently sold in the same area, applying appropriate comparison units
and making adjustments to the selling prices of the properties being
compared based on the comparison elements. This
method is used in particular to evaluate the residential properties of
houses and apartments to determine the value of the sale, where the
evaluator study many of the elements affecting the property and most
important: location of the property (main street, sub-commercial,
public, private) and the state of the property and the age of
construction, conditions and privileges as well as specifications The
nature of the property, its area and the level of interior and exterior
finishes, as well as the history of sales which usually play an
indirect role as well as the local conditions of sale (natural, forced,
market condition and supply and demand quantities). The sales comparison
method can be used to evaluate developed properties, Lands see her space.The expense of building a similar building cost:The current cost of constructing another building or an alternative to
the existing building, deducting the depreciation from the cost of
construction, adding the estimated land value plus the construction
profit, and then adjusting the full property value of the property in
question to reflect the value of the property being valued can be
assessed.This method is based on the following points that should be taken into consideration for real estate valuation:1) Evaluate the price of the land (as if it is free from construction) to determine its best use.2) Evaluate the current construction cost.3) Evaluate the loss (ie how much the building price is due to its use).4) The value of the current building = the cost of construction - the cost of destruction.5) The valuation price becomes the price of the land (as if it is free from construction) + the value of the current building.Calculation of income from rental of real estate:This method is based on the income from the rental of properties that
generate material income if they are for residential rental. This
percentage varies according to the status of the property. It may be
accepted by an investor and not acceptable to another investor.This method is based on five main points:1) Evaluate total aggregate income.2) determine the vacancy rate.3) Determine the value of the total operating expenses of the workers and maintenance.4) Determine the net income value.5) Calculate the percentage of the income on the property.However, the most important element of this type of assessment is how
to determine the net income, and more is used in rented buildings:
residential - commercial - markets - ie, which generate material inputs.In general, valuing or appraising experts believe that there are three
ways to reach a more realistic situation than real estate valuation:Comparison with similar properties in the same region:Through a set of procedures in which the value index is derived by
comparing the property under valuation with similar properties sold in
the same area, applying appropriate comparison units and making
adjustments to the selling price of the properties being compared based
on the comparison elements.This
method is used in particular to evaluate the residential properties of
houses and apartments to determine the value of the sale, where the
evaluator study many of the elements affecting the property and the most
important: location of the property (main street, sub-commercial,
public, private) and the state of the property and the age of
construction, conditions and privileges as well as specifications The
nature of the property, its area and the level of interior and exterior
finishes, as well as the history of sales which usually play an
indirect role as well as local conditions of sale (natural, forced,
market condition and supply and demand quantities). N mind space lands.2. The cost of building a building similar account:This method can assess the current cost of constructing another
building or alternative similar to the existing building, deducting the
accrued costs from the construction cost, adding the estimated land
value plus the construction profit, and then altering the full property
value of the property in question to reflect the value of the property
being valued.This method is based on a number of elements that should be highlighted when evaluating the property:- Evaluate the price of the land (as if it is free from construction) to determine its best use.- Evaluation of the current cost of construction.- Valuation of the loss (ie, how much the price of the building is due to its use)- The value of the current building = the cost of construction - the cost of destruction.- Valuation price = Valuation of the price of the land (as if free of construction) + the value of the current building3 - Calculation of the income resulting from renting the property:This method is based on the calculation of the income resulting from
the leasing of properties that generate material income if they are for
residential leasing. This percentage varies according to the status of
the property. It may be accepted by an investor and is rejected by
another investor.This method is based on five key elements:- Total gross income assessment.- Determination of vacancy rate.- Determining the value of total operating expenses
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