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Answers (3)
- Tim McLaughlin, "timothyrussell"
- Contributions:18
Certainly finding some comparable homes that have sold or are under agreement in that Lake community is the best way to determine your value. You can check public records for recent sales, within the last 6 months.
As concerning the guest cottage's extra value that will be difficult. For some buyers the cottage may have no value for them at all just more maintenance and taxes. If a buyer could find a similiar property without the cottage they may prefer it, however someone who wants that cottage, which narrows the market for you may pay for it but not what it cost to build it. In this market right now you would be doing very well to get 1/4 the cost of the cottage.
As concerning the guest cottage's extra value that will be difficult. For some buyers the cottage may have no value for them at all just more maintenance and taxes. If a buyer could find a similiar property without the cottage they may prefer it, however someone who wants that cottage, which narrows the market for you may pay for it but not what it cost to build it. In this market right now you would be doing very well to get 1/4 the cost of the cottage.
- Rachel Rosen, "RachelRosen"
- Contributions:1491
Here is a video on how to create an estimate
- Tony Delgado, "Tony Delgado"
- Contributions:43
You need to find homes in your area on a lake that have sold recently. If that is not possible go outside of your immediate area to see what other lakefront homes are selling for. Once you find those sales, see what similar homes off the lakes are selling for in the same area. That could give you a GENERAL idea of what value to put on the lake. I would use a cost to build/replacement cost approach to determine value on the cottage, unless you can find comparable sales that have one as well.
How do I add a value for ski lake & guest cottage as ameniteis to find real value of our FL property
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