Ace the Humber/Ontario Real Estate Course 3 Exam 2025 – Your Ultimate Path to Property Success!

Question: 1 / 1165

What is an important consideration for price adjustments between similar properties?

Year of construction

An important consideration for price adjustments between similar properties is the year of construction. The age of a property can significantly impact its value due to factors such as structural integrity, building materials used, and overall condition. Properties built in different years may require different levels of maintenance, have varying energy efficiency standards, or possess unique architectural styles that can affect their pricing. Therefore, when comparing similar properties, the year of construction is a crucial factor to consider in determining appropriate price adjustments. The other options - proximity to amenities, market trend fluctuations, and comparability of property features - are also relevant considerations in real estate valuation but may not be as directly linked to price adjustments between similar properties as the year of construction.

Get further explanation with Examzify DeepDiveBeta

Proximity to amenities

Market trend fluctuations

Comparability of property features

Next Question

Report this question

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy