What Factors Impact A Home's Appraisal

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Do you need to get a home appraisal performed soon, but are wondering what factors will influence the final value? If so, know about the following 5 things that will make a difference. 

Construction Materials

One thing an appraiser is going to look at is the construction materials that make up the home. They will consider everything, from the exterior of the home being made from brick or vinyl siding, all the way to if the interior walls are made with drywall or plaster. Everything that is used to construct the home makes a big difference in its appraised value since it would all be factored into the replacement costs of the entire home.

Bathrooms

While a bathroom does have a lot of unique fixtures that add to the home's overall construction materials, the quantity of the bathrooms play a big part of the appraised value. A home with multiple bathrooms and a master suite is a lot more appealing than a house that has a single bathroom. Even an extra half bathroom can make a difference when factoring the appraised value of the home. 

Bedrooms

While you may assume that more bedrooms will cause the home to be appraised higher, that is not always true. Appraisers look at what other homes in the area look like and how the home you are buying compares. If you are looking to buy in an area with many 5 bedroom homes, a house with 3 bedrooms may be viewed as less desirable and appraised lower. Meanwhile, a 3 bedroom home may be appraised a bit higher when it is surrounded by smaller 2 bedroom homes. 

Curb Appeal

Curb appeal can be measured in many ways, some of which the current owners do have control over. Landscaping and the colors used to paint a home can have a big impact on the appraised value, and you can change those things after you move in and go to sell the home at a later date.

Interior Style

The style of the interior of the home is also very important. Having a home that looks like it has not been updated since the 60's may result in a lower appraised value, especially when compared to modern homes that have new finishing and appliances to make it up to date. Of course, this may not matter that much if the surrounding homes are in the same style, since the surrounding community is compared and will influence the home's appraised value.

To know more about what real estate appraisal services look for, contact an appraisal company near you. 

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18 March 2020

Buying a Building for Your Business

Do you plan to buy a building to start your first business in soon? Perhaps, you’ve already found the perfect place to make your entrepreneurial dreams come true. But, you might not know how much you should offer the seller for it. To help you determine this important amount, consider securing an appraisal on the building. An appraisal will tell you how much the place is worth right now. Once you get an appraisal, creating the perfect offer price should be a cinch. On this blog, I hope you will discover the numerous reasons people obtain appraisals for properties. Enjoy!