Physical characteristics of a property include which of the following?

The physical characteristics of a property pertain to tangible aspects that can be observed and measured. Lot size refers to the total area that the property occupies, while building materials pertain to the substances used in the construction of the property, such as wood, brick, or concrete. Both of these factors are fundamental in determining the physical footprint and structural integrity of a property, which are critical when evaluating real estate.

In contrast, owner-occupied status refers to whether the property is inhabited by its owner or rented out, which is more about usage than physical attributes. Traditions in the neighborhood involve cultural or social practices that may influence the community but do not describe the property itself. Perception of property value is subjective and can fluctuate based on market conditions and buyer sentiments, rather than being an inherent physical feature of the property. Thus, the correct option focuses on concrete, measurable characteristics that define what the property is physically.