Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam. Study with challenging questions and detailed explanations to enhance your understanding. Get ready to excel in your exam!

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

Year of construction
Proximity to amenities
Market trend fluctuations
Comparability of property features

The correct answer is: 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.