In recent social media searches, the top searches are “The value of my home”, “What is the Real Value of My Home?” “What is the Value of My Property?” We see that in the form For this reason, in this article, we wanted to focus on what the callers found in the face of these searches and the concept of value.
What is Value in Real Estate?
When we consider the concept of value in real estate; When we think of immovable properties as assets that are affected by the economy and have an impact on the economy, we can say that the issue is fed from economic perspectives. One of the most important concepts to realize here is to understand that the concepts of price and value are completely different from each other.
Price refers to the value of money that a commodity changes hands in the market. For this reason, the price is an event that has occurred and is a fact. Because it is unique and expresses an event that has occurred. If the value is; It is the value of a property using many perspectives and methods. For this reason, the value may not be unique, it may differ according to the selected methods.
Real Estate Valuation Methods
There are many different methods used when determining the value for an immovable.
Comparative peer analysis, income method, cost method, most effective and efficient usage analysis, feasibility reports etc. The value is determined by many scientific perspectives such as
How Is The Real Value Of The Home Determined?
As can be understood from all these explanations, the value of your real estate is directly related to what you want to do and the nature of your real estate and market conditions.
The results we encounter in such social media searches are mostly the assignment of values using certain algorithms according to the location and information of the precedent real estate, which is a method used within the scope of collective valuation studies, but it can give misleading results when the non-homogeneous structure of our country is taken into account.
