A property valuation is an estimate of the current Property Valuer lithgow market value of a property. A property valuer is a professional who is qualified to carry out valuations.

There are many reasons why you might need a property valuation. For example, you might be selling your property and need to know how much it is worth, or you might be buying a property and need to know whether the asking price is fair.

There are a number of different methods that can be used to value a property, and the most appropriate method will depend on the type of property and the purpose of the valuation.

The most common methods of property valuation are:

1. Comparative market analysis

2. Capitalization rate

3. Cost approach

4. Income approach

5. Sales comparison approach

6. Substitution approach

7. Depreciation approach

1. Comparative Market Analysis

The comparative market analysis (CMA) method of valuation involves comparing the subject property with similar properties that have recently sold in the same area. This method is most commonly used when valuing residential properties.

2. Capitalization Rate

The capitalization rate (cap rate) method of valuation is commonly used for investment properties. It involves dividing the net operating income (NOI) of a property by its purchase price.

3. Cost Approach

The cost approach is most commonly used for new construction or for properties that have been significantly renovated. It involves estimating the cost of replicating the subject property and then subtracting any depreciation that has occurred.

4. Income Approach

The income approach is most commonly used for properties that generate income, such as rental properties. It involves estimating the property’s potential income and then subtracting any operating expenses.

5. Sales Comparison Approach

The sales comparison approach is the most commonly used method of valuation for residential properties. It involves comparing the subject property with similar properties that have recently sold in the same area.

6. Substitution Approach

The substitution approach is most commonly used for properties that are unique or that have special features that make them difficult to value using other methods. It involves estimating the cost of

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