5 Major Factors in A Home Appraisal

bigstock--155307650-min

Selling your home for top dollar is a major concern of every seller in today’s market. But, before you can sell your home to your prospective buyer and they can close their loan, an appraiser needs to assess your home’s estimated value. In order to get your home looking its best, take the following factors into consideration well before an appraiser is even scheduled to view your home.

bigstock-White-And-Grey-Kitchen-Room-I-152876744-min

  1. CURB APPEAL. How your property looks overall is a major factor, especially when it stacks up to nearby homes. Lot size and views also factor in to this calculation. If your land is useable, clean, and attractive, it can add to the total appraised value.
  2. LOCATION. Nearby schools, shopping, transportation, can be key factors for your home’s value. Other homes for sale close to yours and recently sold homes in the area will be considered by your appraiser, as well.
  3. STRUCTURE. An appraiser will consider materials, signs of wear, and whether the home is brick or made of wood. Brick can be highly valued because of its insulation, but any signs of wear or gaps in the foundation to outside walls can receive a negative mark. If you have an older home, adding insulation between the walls can add value.
  4. AGING. New or old, a home that has been taken care of and updated will be appraised higher than a house that has not. If your home needs some TLC, simple projects for a general contractor can include fixing damaged drywall, freshening up a room by painting the walls, or refinishing wood details.
  5. APPLIANCES. The condition and age of your appliances, your heating and air conditioning units, electrical systems, and plumbing are inspected for your appraisal. Make sure every appliance in your home is in good shape and functioning properly, otherwise it can negatively affect your appraisal.