Highest and Best Use

Service Description

A Highest and Best Use (HBU) study is a critical real estate appraisal process that identifies the most profitable, legally permissible, physically possible, and financially feasible use of a property. This analysis determines the optimal utilization of land or property to maximize its value. It involves evaluating various potential uses and applying four key criteria: legal permissibility, physical possibility, financial feasibility, and maximum productivity. The study considers both the property's current state and hypothetical scenarios, such as redevelopment. HBU analyses are essential for investors, developers, and planners to make informed decisions, guiding land acquisition, zoning changes, and investment strategies. By identifying the most advantageous use, HBU studies help unlock a property's full economic potential.