The Amana Estates Property Valuation Tool estimates the value of Nigerian properties using the cost approach. Follow the step-by-step guide below to ensure accurate results.
Step 1: Access the Valuation Tool
Navigate to the Amana Estates Valuation Page on our website. Ensure you have the necessary property details ready before you begin.
Step 2: Enter Property Details
You will be required to fill in the following details:
1. Property Size
- Enter the length and width of the built-up area (the part of the land occupied by the structure). This does not include the perimeter fence. For example, if the total land size is 50 by 100 feet and the roofed building is 40 feet long by 30 feet wide, then enter 40 as the length and 30 as the width.
- The tool will automatically calculate the total square footage.
- If it is a multiple-storey building or multiple separate buildings in one compound, add the lengths of all the individual floors or individual buildings and enter as a single number. Also, add the widths of the individual floors and enter it as a single number. An easy way to do this for floors that are identical is to get the length of the ground floor and multiply by the number of storeys or buildings; do the same for the width, too.
2. Property Type
- Select the type of property from the available options:
- Bungalow: a single-story residential building with all rooms on the ground level. It is commonly preferred for its ease of accessibility, cost-effective construction, and simple design.
- Duplex: a two-story residential building designed as a single home or two separate living units. It offers more space and privacy compared to a bungalow and is often considered a mid-to-high-end housing option.
- Commercial Building: any structure used for business purposes, such as offices, retail shops, hotels, warehouses, and shopping complexes. These buildings are usually valued differently from residential properties due to higher construction costs and potential rental income.
- Each property type has different cost factors, which will be considered in the valuation.
3. Cost Category
- Choose a construction quality category that best describes your property:
- Standard – Basic finishing, economical materials.
- Mid-Range – Moderate finishing, good-quality materials.
- Luxury – High-end finishing, premium materials.
- The cost per square foot will be adjusted based on your selection.
4. Building Age
- Enter the age of the building in years.
- This will be used to calculate depreciation based on the expected economic life of the property.
5. Economic Life & Depreciation
- The tool automatically applies depreciation based on the economic life of the building type.
- You do not need to adjust this; it is managed in the backend.
Step 3: Location Details
1. Select Your State
- Choose the Nigerian state where your property is located.
- Each state has a location multiplier that adjusts valuation based on market conditions.
2. Select Area Type
- Choose whether your property is in a:
- Village: a small rural settlement with a low population density and limited infrastructure. Property values in villages tend to be lower due to reduced demand and fewer amenities.
- Town: a moderate-sized settlement larger than a village but smaller than a city. Towns typically have more developed infrastructure, commercial activity, and better services, leading to higher property values than villages.
- City: a large, densely populated urban area with advanced infrastructure, industries, and extensive amenities. Property values in cities are usually the highest due to high demand, better economic opportunities, and superior facilities.
- The valuation will be adjusted based on these classifications.
3. Rate the Property Area
- Select the area desirability rating based on factors like infrastructure, security, and demand:
- Low Demand
- Moderate Demand
- High Demand
- This helps refine the valuation according to local market conditions.
Step 4: Enter Land Value
- Enter the estimated value of the land in your location (per square meter or total value).
- If unsure, check recent land sales in your area or consult local property agents.
Step 5: Submit Your Information
- Click the Submit button.
- A confirmation message will appear, informing you that your valuation request has been received.
Step 6: Check Your Email for the Valuation Report
- The detailed valuation report will be sent to your provided email.
- The email will include:
- Property size and type.
- Construction cost breakdown.
- Depreciation calculation.
- Land value consideration.
- Final estimated property value.
Additional Features
- Logs & Analytics: All submissions are logged for performance tracking.
- Automatic Cost Updates: The system is updated daily to reflect inflation and market trends.
Need Assistance?
If you need help using the tool or have questions about property valuation, contact Amana Estates at:
📍 Office: GRA, Katsina
📞 WhatsApp: 0916 588 5077
📧 Email: salam@amana-estates.com
🌐 Website: www.amana-estates.com