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Interesting Reads

Property Valuation and Its Importance:
10th March 2024

Figuring out the value of property feels a bit like solving a puzzle in the real estate realm. Property Valuation Calculator is the one that untangles this complex web, helping us make smart decisions and ensuring fairness in our property transactions. It's like having a guide in the intricate journey of real estate.

Property valuation holds immense importance for several reasons:

  1. Actual Worth: Property Valuation Calculator helps both buyers and sellers understand the actual price of a property.
  2. Loan Process: Banks rely on property valuations to set loan amounts and establish mortgage terms and conditions.
  3. Insurance Purposes: Property Valuation Calculator helps to keep the coverage cost reasonable, reducing the risk of insufficient insurance coverage.
  4. Rental Purpose: The Rental Property Calculator helps in computing the market value of a property and assessing its usability for rental purposes.
What are the ways to calculate the property value?
10th March 2024
Property valuation methods help us determine the exact value of an income-generating property. In general, there are several calculation methods for calculating a property's value. The method we choose will depend on the asset class, investment strategy, and other factors.
There are three primary methods to calculate property value:
  1. Sales comparison approach,
  2. Cost approach, and
  3. Income capitalization approach.
  1. Sales Comparison Approach:The steps to calculate the property value by Sales Comparison Approach (SCA) are as follows:

    • Research sales of similar properties in the area.
    • Verify data across comparable properties.
    • Compare sales to the subject property.
    • Consider property value factors and make adjustments.
    • Calculate the final market value.
    The property being compared should also fall in the same locality and current use. While evaluating the value of the subject property, price adjustments are made according to the features of the comparable property.
  2. Cost Approach:
    1. Picture a shiny new house or building that's a spitting image of the one you're checking out.
    2. Tally up the cost of the land and what it takes to build this new gem.
    3. Now, subtract the wear and tear, aging, or anything that's made it lose a bit of its sparkle - that's the depreciation.
    4. What you get after all this math is the estimated value of the property.
    In simple terms:
    {Value of Property} ={Cost of Land} + {Cost of Construction} - {Depreciation}
  3. Income Capitalization Approach:
    • Calculate the Cash Flow: Figure out how much money the property is bringing in each year after expenses. We call this the net operating income (NOI).
    • Pick a Rate: Choose a rate that shows how much profit you'd want in a year compared to the property's value. It's like deciding on your return rate; we call this the capitalization rate or cap rate.
    • Do the Math: Divide the net operating income by the cap rate. This gives you the property's market value.
    The formula for this method is:
    Market Value = Net Operating Income / Capitalization Rate
    For example, if a property has an NOI of Rs.10,00,000 and a cap rate of 8%, the market value would be:
    Market Value = Rs. 10,00,000/0.08 = Rs. 1,25,00,000
How to Use Property Value Calculator at Housing
10th March 2024

By now, you would know how important property valuation is important while buying a property. However, how do you do it? Do you have to use the formulae we discussed above and do the calculations manually?

That is a risky idea and one that is prone to errors. This is where a property valuation calculator comes in.

With our property valuation calculator, you can easily estimate your property value. You just need to follow the below steps:

  1. Search “Property value Calculator by housing.com” on the website.
  2. You might need to enter the following details for our calculator to give you the correct estimation of your property (sections marked as * are mandatory)
    • Choose if you are buying/selling or renting your property
    • Enter your city, project, and locality
    • Enter your property type and number of bedrooms
    • Enter the size (Sq.ft.) of your property and the state of its furnishing
  3. Click “Estimate Value of the Property.”

That’s it!

With just this basic information, our Housing.com property valuation calculator will give you the estimated value of your property.

The estimation will be divided into three sections: with less amenities, your property now, and with more amenities. This gives you the minimum, average, and maximum value you can get for your property.

Next, you can click the “Upload this property on Housing.com” button to upload your property details and pricing on our listing. This will help you reach buyers/sellers faster and increase efficiency.

You can use this calculator multiple times and adjust the variable to see how it impacts your property value.

Through this property calculator, you can easily calculate property market value online and navigate the dynamic real estate landscape with an easy understanding of your property's worth. This ensures sound financial decisions and transactions.

Frequently asked questions

How do I calculate the residual value of my property?
If you want to find out how much your property could sell for you, you can use the sales comparison approach. Just check out what similar homes sold for recently, compare them to yours, and you'll get a good idea of a fitting resale price.
How Do You Calculate the Market Value of a Property?
Like the Sales comparison method, there's also the income capitalization approach, which is great for properties that bring in some cash. These methods help you figure out your place's value based on its vibe, condition, and how much it could make in the future. It's like playing detective with your own home sweet home!
How Do You Calculate Property Value from Rent?
You can calculate the value of your property based on rent by using the income capitalization approach. This method estimates the value by looking at the expected future income from the property. The property's market value is then determined by evaluating potential rental income and applying it to a capitalization rate.
How Is a Property Valued?
The sales comparison approach checks out similar recent sales, the cost approach calculates rebuilding costs, and the income capitalization approach peeks into the property's earning future, which is great for rental places. These methods help determine a property's value for selling, making investment decisions, or sorting out insurance costs. It's like looking at a property from different angles to get the full picture.
How Do Banks Do Property Valuation?
Banks do assessments for a property's value when it's used as collateral for a loan. What banks do is they usually hire professional appraisers to evaluate the property's market value and condition.
How accurate is the Property Valuation Calculator estimate?
Property valuation calculators give estimates based on available data and algorithms. They provide a starting point where the accuracy of the estimate will depend upon the data used and the specific characteristics of the property.
Is the Property Valuation Calculator suitable for all property types?
Yes, Property valuation calculators will work for various property types, but their accuracy can also be influenced by factors like data availability and specific property characteristics.