Property Valuation Methods: A Deep Dive
Property valuation is an essential aspect of the real estate industry. Whether you’re in Melbourne or any other part of the world, understanding the various property valuation methods can help you make informed decisions about buying or selling properties. This article will delve into the three primary property appraisal methods: sales comparison, income capitalization, and the cost approach. Sales Comparison Approach The sales comparison approach, often referred to as the market approach, is one of the most commonly used property