Thinking ahead is essential, especially if you want to invest in a property that gives you financial stability. But it is necessary to have accurate information to know the commercial value of a property.
For this, you need adequate professional advice that allows you to carry out a profitable and profitable negotiation. In addition to enjoying other benefits such as avoiding unnecessary expenses or surcharges, and even being able to pay in installments.
In this interesting article, we explain what the commercial value is and how to calculate it. We also bring you some excellent tips to increase this value and have the best investment.
What is the commercial value of a property?
Do you want to rent or buy a property and do not know how much it costs? Knowing the market is essential to ensure that you are facing an honest and fair negotiation for both parties.
By knowing how to calculate the commercial value of a property you will be aware of the real price in the real estate market.
The commercial value of a property represents the estimated cost that it has in the real estate market.
However, you should consider that the price is determined by various factors.
In this sense, you have a useful and recommended tool to determine the real price of property this is called a commercial appraisal. Do you want to meet her? Keep reading.
How is the commercial value of a property calculated?
Each owner can decide the price of their property, taking into account elements such as remodeling, age of the structure, and neighborhood, among others. The truth is that without proper advice, the price may be a bit far from reality.
Investigate the commercial value of a property with the same characteristics as yours and always seek advice from real estate experts.
We offer you the following recommendations, in order to be able to calculate, according to the market, the commercial value of a property:
Fill out a form or spreadsheet that contains the information that we mention below.
- Property type
- Years of construction
- Property area
- Number of bathrooms
- Number of parking spaces
- Smart building (if used for offices)
- Height (for use as a warehouse or warehouse)
- Number of phone lines
- Rental price
Make different calls to inquire about properties that are for sale in the same area as the one you are interested in. Take into account the previous data and ask for these.
It is also important to talk to people who are selling properties in this area, to obtain information.
Remember to also consider those properties that are advertised through specialized web pages.
How to have a real calculation of the commercial value of a property? You must collect information from at least 20 properties.
You can rule out and classify only those properties similar to the one you are interested in. By dividing the cost of each one by the area you will obtain its value per square meter.
The figure resulting from this operation will serve as a reference to establish the rental price of the property.
Differences between commercial appraisal and cadastral appraisal
Now get ready, because we will explain what the commercial and cadastral appraisal is about, in addition to presenting their differences.
Not knowing the commercial value of a property, it is essential to carry out an appraisal. This works to determine the price that must be paid or fixed in the sale of the property.
The commercial appraisal is the one that determines the value of a property. It is necessary to calculate the cost of your house when you want to sell it. The banking entities request this documentation to have the guarantee of a real value and to be able to finance you without a doubt.
In this way, it will be possible to access a mortgage loan since the bank has the assurance that the property will have the appropriate cost.
The commercial appraisal and the cadastral appraisal are determining factors in the commercial value of a property.
On the other hand, the cadastral or tax appraisal is different. It is an opinion that the Government uses for the liquidation of the property tax, which will be collected annually.
To do this, the location of the property and square meters of land and construction are considered. The cadastral appraisals are executed in the Special Administrative Unit of District Cadastre.
The validity period is another differentiating factor. While the commercial appraisal is requested when selling a property, the cadastral appraisal is requested annually. Now you know what the differences are.
Tips to increase the commercial value of a property
Next, we share some useful tips so that you can increase the value of your property.
Try to visit different apartments and houses for sale, and real estate websites, and compare their prices according to the area.
Consider the value aspects, such as the finishes and remodeling in the last few years. These influence the final cost.
Keep in mind the stratum, since, in the country, this is a reference point for the real value in the real estate market.
You can use the value of the square meter in the area as a reference, which you can obtain by dividing the price of the property by the surface.
You should know that the cadastral appraisal is only used to know the property tax. But it does not establish the real value of any property.
Be self-critical and try to visualize the elements that can be considered pros and cons in the property. An example of these can address location, security, nearby access roads, and public transportation, among others.
The commercial value of a property can be negotiable. But it is important to be clear about setting an offer limit that is convenient, so as not to give away the property.
Now you know how to calculate the commercial value of a property. You just have to follow these recommendations and analyze your situation, in addition to defining your needs, which will determine your approach.
At Yarmoloy Group you have an expert team with extensive experience and a range of real estate alternatives. You can get advice and the proper support to make the best decisions in a complex market.
Always trust professionals who know how to provide you with timely answers and who represent a profitable and avant-garde tool. Visit us at Looking for a Home.