Comparable Sales Approach
Compare the property to similar ones recently sold in the same area. Adjust for size, condition, and features. Use three to five comparables for a range.
Cost and Income Approaches
Cost approach: land value plus replacement cost minus depreciation. Income approach: value from rental income (e.g. capitalise at a yield). Used for commercial or investment property.
When to Hire a Valuer
Banks require a formal valuation for mortgages. Use a valuer for high-value deals or when you need a defensible figure. In Nigeria, valuers are often NIESV-registered. Costs vary by property and location.
Use Our Tools
Estimate affordability and repayments; they do not replace a formal valuation.