Alabama Real Estate Practice Exam

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How is the value of an addition to property determined?

  1. By its cost

  2. By the value it adds or subtracts from the property

  3. By local zoning laws

  4. By its size

The correct answer is: By the value it adds or subtracts from the property

When making an addition to a property, the value is not necessarily determined by its size or cost alone. Local zoning laws do play a role in determining the value, but ultimately the value is based on how much the addition adds or subtracts from the overall value of the property. For example, a well-designed and high-quality addition can significantly increase the value of a property, while a poorly constructed or poorly placed addition can decrease the value. Therefore, the most accurate way to determine the value of an addition to a property is by considering its overall impact on the property's value.

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