Land is a very important capital asset with regard to any economic activity. Opinion on the value of a piece of land can be developed through land appraisal. This process is done by appraisers and they employ the following guides in assessing the value of the land.
First, the land appraisers look into the ease of accessing the piece of 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. For this reason you ought to ensure that the land is accessible from the main road.
The lay of the land or the topography is the second aspect that is checked on during an appraisal. Topography is a very important aspect as it is a major determinant to the potential land use practices the land can be subjected to. The topography of a piece of land can easily be assessed using paper map or 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. During the topography assessment of the land for an appraisal, the topography can give a lot of insight on the susceptibility of the land to flooding. This is gauged with the potential land use practice and it can either raise or lower the value of the land during the appraisal.
The diversity of flora and fauna within the property an appraisal is being done on is the third consideration that takes into thought. There are many economic gains an owner can get from a land rich in plant and animal life. For this reason the appraisal value will be high. The species present can also lead to a higher appraisal value if they are rare or of high value in terms of economic benefits.
The land use practices and the land use zoning of the property in question is also a factor that is considered during the appraisal process of the property. What other lands around the property are being used for has a significant impact on what the value of the land in question will be. 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.
To conclude, location is a key factor that determines the value of the land during appraisal and it all depends on the activity the land will be used for.