Which of the following is NOT a characteristic of Highest and Best Use?

The concept of Highest and Best Use (HBU) refers to the most profitable, legally permissible, and physically possible use of a property that is also financially feasible. It is an essential principle in real estate appraisal and helps appraisers determine the value of a property.

The correct answer highlights that personal property preferences do not fit into the HBU framework. When assessing the highest and best use, appraisers rely on objective criteria rooted in legality, physical possibility, and financial return. Personal preferences are subjective and can vary significantly between individuals; thus, they do not form a basis for making appraisal decisions.

This ensures that the analysis remains focused on market conditions and objective characteristics of the property rather than personal biases, allowing for a standardized, consistent approach to valuation. In contrast, the other aspects—legally permissible, physically possible, and financially feasible—closely align with the formal criteria used in evaluating a property's potential use.