What is the lifetime of a property?

lifetime of a property

It must be taken into account that, like any other asset, these have an expiration date, given that the structure and materials of the property are losing quality, which is why providing constant maintenance to the properties is an important element. so that these can be preserved in the best possible way, since this is what influences the conservation process and this can cause the result to change in favor of or against the useful life of a home 

Useful life of a property What is it?

This time is determined based on the materials that have been used in the construction process of the living place, in addition to the climatic conditions to which the house or building is exposed, the type of maintenance that is provided and the quality of the materials with which it is carried out. 

For this reason, each construction has a useful life determined by the specific conditions and characteristics of each house, which can be determined through a real estate appraisal that allows determining the state of the house both externally, internally and even in the structure. 

Know and calculate the useful life time. 

Each construction has a useful life, this determines the conditions in which both the property and the materials used are located, analyzing the type of construction is how an average life period is established for the place used to live. 

Later, a more precise assessment of the parts of the construction will be made, such as its foundation, structure, coatings, masonry, installations and all those materials that were implemented, such as aluminum, paint, wood, PVC, etc. 

Another of the considerations that are taken into account is the conservation of the construction, for this reason if it is newer and has fewer repairs, its value may increase because it does not have damage to its structure or problems in the finishes. 

The main key to extending the life of a home is the quality of the materials and constant maintenance so that it can have a longer useful life and stay in good condition for a few extra years. 

It is for this reason that it is recommended that any space within the home receive constant maintenance, approximately every 5 or 10 years, and that suitable repairs be made so that the place in which one lives does not present damage to its structure or main walls. . 

Why is the real estate valuation important to obtain the useful life?

Through a real estate appraisal, the lifetime of any type of home is obtained, this must be done at the time of putting your property up for sale, since it is necessary to raise the price at which a property is going to be sold. 

This refers to the fact that if you are determined to buy a property, the seller can provide the information requested and in this way you will have the knowledge that the property has the necessary needs to be inhabited and that you are both paying and receiving a fair price for the real estate in question. 

These appraisals will allow us to have a date on which the use of houses or buildings is legally stipulated and the date on which it loses validity, so it helps in the event that a purchase or sale process is initiated for the assets in question.

At the time of selling, the appraisal serves to determine the price at which the property in question should be sold, as well as it can provide the owner with an idea of the state in which the property is located and if repairs are necessary. to do or problems that lower the cost of housing. 

In case you want to buy a property, the appraisal will help the buyer to determine whether or not to buy the house and make the most appropriate decision, since the state in which the property is located is known and it is possible to know if the price is fair. 

At ANEPSA we have real estate valuations that allow us to determine the useful life of a house or building, thanks to the fact that we have Expert Appraisers specialized in real estate valuation that analyze the characteristics of each home.

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