how much is my land worth
If you are not comfortable with those figures, however, you can consult with experienced real estate sales and valuation professionals to get an idea of how much your property might be worth.
Finding the market value of vacant land can be a VERY challenging task. It’s not an exact science, but I’ll show you the framework I use on how to value vacant land.
With more than 72 million acres, Arizona was one of the largest states in the country. However, much of the land was undeveloped and unusable for agricultural purposes, leading to a valuation of just $315 billion, or $4,300 per acre, nearly one-third the value of an average acre in the lower 48 states.
How to Determine the Value of the Land Vs. the House in a Home Purchase Homeowners usually know the approximate value of their home, because they pay a mortgage every month, but the worth of your home is actually the worth of the physical structure and the land underneath combined.
Calculate the value of your land. Subtract the depreciation cost of each building from its replacement cost and add the adjusted value of all the buildings together. Add the total to the estimated land value. The resulting figure is how much your land is worth based on the cost approach appraisal method.
Even without the help of a real estate appraiser, you can find out your lot’s actual value by performing a land residual analysis. Here’s how to do it: Determine its potential final market value. Subtract construction hard costs and development soft costs as well as the developer’s profit from it. This would be your actual lot value.