Why Costa Rica Real Estate?
Calculating Value
Comparative Value
Figures on recently sold properties with like characteristics in similar regions are organized and analyzed to supply a measuring tool for working out an approximation of the comparative value. If there is a building, what do the materials and labor cost in the area for a similar structure? What are comparative properties being sold for?
It is important to recognize the value of one property versus another. You may choose a property as a comparative value property without recognizing that it is not a good bench mark. Is the property you are interested in unique or novel in a way that the other may not be? Is one harder to build on or to reach. Does one of them have a more central location or a better view?
Take advantage of how the municipal authority assesses property value in your comparative analysis. They factor in volunteer declarations or a municipal appraisal if the owner does not offer an appraisal. They also include the last property transfer or mortgage data. With this information at hand, you can look into how the market has changed based on local factors and the countries economic situation and about how much you should pay today.