I always hear that land appreciates and the building depreciates. So with that in mind I looked over my recent property evaluation (by proper valuers service) and it tells me that my property is only worth $35K while the building is worth $185K! I gained an extra $20K by talking it up to the valuer (his reason was that the painting wasn’t finished and neither was the garden – too much work for any new prospective buyer).
So if that is true, then why do they value vacant blocks at around $100 – $135K for the same sized residential block?
By this reasoning my place would be worth $285 – $320K and I’d be asset rich!
Can some-one help me reconcile this? [blink]
Cheers
C@34Our greatest weakness lies in giving up. The most certain way to succeed is to always try something one more time.
– Thomas Edison
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