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 should be deducted to determine the adjusted value in a comparable property with extra amenities?

$3,000 for a pool
$1,000 for a shed
$2,500 for an extra 2-piece bath
$4,000 for central air conditioning
$8,500 for an extra bedroom
$27,500 for a double car garage

The correct answer is: $2,500 for an extra 2-piece bath

In the context of determining the adjusted value of a comparable property with extra amenities, the correct deduction reflects the significant impact that additional bathrooms have on property value. In this case, an extra 2-piece bath is considered a valuable amenity that can enhance the appeal and functionality of a home, which justifies a higher adjustment value. When comparing properties, adjustments are made to ensure a more accurate comparison, factoring in the various amenities that can either increase or decrease property values. While each of the other choices may represent valuable features, the extra 2-piece bath is a widely recognized change that significantly influences buyer interest and overall property valuation. In real estate, amenities like additional bathrooms often yield a more substantial return on investment, as they can accommodate larger families or increase convenience, making them particularly desirable in the market. Hence, when determining the adjusted value of a comparable property, deducting $2,500 for the extra 2-piece bath provides the best representation of its worth relative to the property under consideration.