Whether you’re buying a home for the first time or a potential investor who’s curious about the property, understanding property valuation is a very important step that needs to be taken into consideration as it will help you analyze the returns you may get in the future. It plays a key role in real estate transactions, tax assessments, insurance premiums, etc. The factors that revolve around property valuation are location, age of the property, sustainability of the property, amenities, accessibility, and others. Before delving further let’s understand what property valuation is.