What is the primary factor determining the concept of utility?

The primary factor determining the concept of utility is the functional capacity and satisfaction provided by a property. Utility refers to the usefulness or value that a property offers to its users or occupants. It encompasses how well a property meets the needs and preferences of individuals based on its design, layout, amenities, and overall functionality. For instance, a residential property that has an efficient floor plan, adequate space, and desirable features will exhibit high utility because it effectively satisfies the dwelling needs of its residents.

While other factors play a role in real estate valuation, they do not directly influence the fundamental concept of utility. The physical location of the property may affect its desirability or market value, but it is not the core of what makes a property useful to its occupants. Similarly, legal status of ownership pertains to the rights and title associated with property, while influence on reselling value relates to external market dynamics rather than the intrinsic satisfaction a property provides. Therefore, the functional capacity and satisfaction embodied in option C accurately captures the essence of utility in real estate.