The economic principle pertains to change in a property that affects its value as a whole and is contributory value.
- The term contributory value refers to the amount by which a single component of an asset influences its total value as a whole.
- Contributory value is commonly used in the real estate industry to show how a single property feature affects the property's entire value.
- The term contributory value is commonly used in the context of real estate, where it specifically references property values.
- The concept of contributory value comes from the field of value theory. In broad, basic terms, this is the school of thought that examines how people value or appreciate things.
- Contributory values may also depend on buyer preferences and the state of the economy.
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