Each valuation method is independent of the others, which means that an appraiser will primarily use a single approach rather than a combination of all three approaches to determine the value of a property. The method used may be dictated by the real estate House Valuation Gold Coast agency.
And since each approach can result in very different valuations, it’s important to know which valuation method the chosen real estate House Valuation Gold Coast agent uses. Different assessment methods are used for different situations.
Sometimes multiple valuation figures are quoted in reports, market comparison valuation is used as a fallback if the investment House Valuation Gold Coast usage of the building changes.
This does not mean that one approach is better than the others, only that one approach will be more applicable or more appropriate for a certain property than the others. You need to understand the differences between each approach and know which approach the appraiser is using for your investment.
If a novice wanted to calculate approximately house estimate before putting it on the market, what would he do? He would go on the internet and look at how much similar properties nearby (ideally on the same street) are selling for.
“Well, honey, the Jeffer sons at number 59 sold their house six months ago for $280,000, and they only had one garage, not a double like ours. So our house is necessarily worth a little more”. That’s basically how the market comparison valuation method works.