Use the summation method to appraise 7 Polyester Place, Sparkling Waters by following Steps 1 through 5. Located in Sparkling Waters, the property is a 5-year-old brick and iron home overlooking an oval. It features 3 large bedrooms, all with walk-in or built-in robes, a study, 2 modern bathrooms, 2 spacious living areas, quality finishes, a stainless steel kitchen with European appliances, a stylish courtyard, an established garden, a double carport, and ducted air conditioning. House Size: 180 sqm Land Size: 400 sqm Town of Sparkling Waters Sparkling Waters is the smallest suburb in Perth. Assumptions Building costs on this site are estimated at $1250 per sqm for the appraisal. Additional costs for appliances, air conditioning, bathroom fittings, fencing, and landscaping are included, totaling 10% of the building costs. (Note: Actual figures may vary; consult current data for precise appraisals). Recent sales data A recent sale of land at 11 Peel St for $375,000, which is 500 sqm, provides a benchmark for land values in Sparkling Waters. Step 1. Assess Value of Land p/sqm a. Land sale value size of land = $ p/sqm Land sale value size of land = $ p/sqm b. Calculate the land value