Land is a very important resource with regard to any economic activity as it is a form of capital. The opinion on the value of a piece of a commercial or residential land can be known via a land appraisal. Appraisers use the following guides in creating an opinion of the value of the land.
The first aspect that the land appraisers look into is the accessibility of the land. The usability of a piece of land is tied to the ease of access and for this reason, accessibility is very important. With regard to accessibility alone your property may be termed to be of low value simply because it is not easy to access. To avoid a low-value appraisal, ensure that the property can easily be accessed from the main road.
The second aspect that is checked during an appraisal of a piece of land it the topography. The topography of a piece of land is a great determinant to its usability. Assessment of the lay of the land can be aided by the use of paper maps or from electronic sources. The appraisal process based on topography can be a game changer for the owner if the properties suitability to economically beneficial practices are realized. Topography assessment of the land also plays a critical role in determining if the property is prone to flooding. In line with the preferred land use practice of the property, an appraisal based on the susceptibility to flooding can either add to the value or drastically reduce the value of the piece of land.
The diversity of flora and fauna within the property an appraisal is being done on is the third consideration that takes into thought. Lumbering and hunting are some of the practices land with a rich diversity of flora and fauna can be subjected to and which can bring economic gain. The appraisal value is expected to be high for such a piece of land. The species present can also lead to a higher appraisal value if they are rare or of high value in terms of economic benefits.
Fourthly, during the appraisal land use zoning and the land use practices around the property play a major role in determining the value of the land. The potential of the land in question is determined by what other properties or lands around it have been put through. If the practice is compatible the value will be high on appraisal and it will be low if the uses are incompatible. Zoning can restrict some practices on a property and in turn raise or lower the value on appraisal.
In conclusion, the location of the land plays an important role during the appraisal value of the property but it all depends on the activity it will be used for.