What term describes the change in value due to physical alterations to a property?

The appropriate term that describes the change in value due to physical alterations to a property is found in the concept of "additions." When physical changes are made to a property, such as renovations, expansions, or significant improvements, these alterations can directly impact the property’s market value. This term reflects the notion that value can increase as a direct result of these enhancements, thereby making the property more attractive to potential buyers or tenants.

While "adjustments" might seem relevant as it refers to modifications that can influence value, it typically pertains to changes made during the valuation process, rather than the actual physical changes to the property itself. "Assessable" relates more to whether a property can be evaluated for tax purposes but does not inherently capture the nuances of physical changes leading to value alterations. Lastly, "appraisal study" is a broader term for the overall process of evaluating property value, rather than specifically addressing the physical changes that directly affect a property’s worth. Thus, the concept of "additions" is most appropriate in this context.