Whether you are selling or buying a home on your own or using an agent, getting a home appraised is the only way to go. What is an appraisal? You ask. It is a professional opinion of the value of a home used to buy or sell that property. An appraiser is a must-have if you want to navigate the real estate market like a professional.
The appraiser creates a report based on a visual inspection which considers the following aspects of the home in question. Understanding the factors that help a home appraisal will help you get the most value if you are buying. It can also help you avoid overpricing your home if you are selling. This is the sole reason why ExcelAppraise exists, to help you with all your appraisal needs so you can buy or sell without a hitch.
10 Positive Factors That Help a Home Appraisal
Where a home is located is one of the most vital factors that help a home appraisal. Homes in desirable areas like suburban neighborhoods located 20 to 30 minutes from a large or mid-sized city tend to be worth more than those in shabby neighborhoods.
The precise location is equally important to the neighborhood and is considered as well. A home located on a serene estate will be appraised higher than one adjacent to a major highway, even if they are both in one neighborhood.
A neighborhood’s value is determined by multiple factors, including the crime rate and proximity to schools and hospitals. The school system rating and other surrounding amenities like beaches, parks, and convenience stores also increase the home’s appraisal value. Well maintained roads and streetlights are also a plus.
Undesirable features like landfills, industrial facilities, and power plants can significantly lower the appraisal value.
Age of the Home
Newer homes can be worth more than older homes, but that isn’t necessarily the case. Newer homes may have a higher appraisal value because they are fitted with modern fixtures and finishes and hardly need any repairs.
Older homes located in historical places or on streets with mature trees also attract a high appraisal value, primarily if they have been appropriately maintained. Here what the buyers in that area prefer ultimately determines the appraised value of the house.
Appraisers measure all inhabitable spaces of a home and the number of stories to calculate the total square footage. Both aspects are reviewed when estimating the value of a home. The basement is not usually included when calculating the total square footage. Still, it is essential to have a finished one.
Renovations and Upgrades
Specific innovations and upgrades can raise the appraisal value of a home. These may include granite or marble countertops, a brand new kitchen, a remodeled bathroom, and a finished basement. Features like hardwood doors and grand entrance also increase your home’s worth.
Landscaping can also add value to your home. The secret is to include easily maintainable plants, benches, and beautiful pavements. Yards with plants that are hard to care for or dead trees may negatively affect your home’s value. When landscaping a home you may want to sell, consider options you would love to see around your home and get rid of everything you wouldn’t want.
No. Of Bedrooms and Bathrooms
An appraiser compares the property to others in the same area with the same number of bedrooms and bathrooms to make an accurate comparison of value. Fewer bedrooms sell for less because families are mostly interested in bigger homes. A house with more bathrooms will also have a high appraisal value. The rule of thumb here is simple, the more, the merrier!
Heat and Air
Homes with central air have higher appraisal values than those that need air conditioning units in every room. No one wants to live in an oven or a freezer, for that matter! Whether your heat is fueled by electricity, gas, or oil is one factor that helps a home appraisal, depending on what most buyers go for in that area. Outdated heat and air systems are bound to lower the appraisal value of your home.
The kind of materials used in building your home is also considered when determining your home’s value. A home built with high-quality building materials will have a higher appraisal value than one with fewer quality materials.
You can increase your home’s appraisal value by updating it every now and then and keeping it in good condition. Changing hazardous electrical methods and removing hazardous materials like asbestos betters your home’s worth. Installing high-quality doors and updating the roof and windows can also add to your home appraisal value.
Style and Design
How you style your home and design is also among the factors that help a home appraisal. Classic designs have not been known to reduce the value of a property. Still, popular styles might result in a lower appraised value when they go out of style when you are selling. Styling your home with timeless designs is going to pay off when you decide to sell.
Garage and Storage Space
Whether your home has a garage, and its size contributes to the value of your home. Garages that can hold more cars will be appraised higher than single car garages with comparable features.
An ample amount of large closets is also an added advantage. Most buyers looking for a bigger home consider the amount of storage space in a home, so an appraiser will look at this to determine the value of your home. A large attic for storage and a usable basement will definitely work in your favor.
Current Real Estate Market
The state of the housing market is among the main factors that help a home appraisal. A home’s estimated worth a couple of years ago may not be similar to the same house’s estimated value presently. The growth of a nearby town or city increases local demand, directly affecting the appraised value of homes in that area. Strategically putting your home up for sale when the real estate market is hot will help you get more money for it.
We at ExcelAppraise are the leading appraisal experts in Utah. The appraisers on our team consider all the market data required without overlooking even the slightest detail. Our job is to ensure that you get a well-supported appraisal for all your needs. Our expertise in this field is unmatched and backed by hundreds of good reviews and referrals in various locations.
ExcelAppraise professional appraisers are licensed and certified and assist in both commercial and residential appraisals. We are transparent in all our interactions with you, and there aren’t any hidden charges or dealings with us. Our services are affordable and our valuations as accurate as possible. We strive to be flexible with your schedule and meet all your requirements. If you are buying or selling a home, ExcelAppraise is your perfect companion.
Why Choose Us for Your Home Appraisal Needs
We are Independent
Our work is free from outside control and is not influenced by any other parties. We do not allow the buyer, real estate agent, loan officer, or seller to influence our opinions. Our appraiser will provide an independent opinion of value that you can trust.
We are Objective
The professional appraisers at ExcelAppraise do not let personal feelings or opinions influence them and how they consider and represent facts. We come to your property completely open-minded, leaving our personal opinions and tastes behind so we can serve you as best we can. Our job is to develop opinions based on the current market, and we stay right to it. We guarantee you this so you can feel at ease letting us do what we do best.
We are Unbiased
You can rest assured that none of our appraisers will show prejudice for or against anything when it comes to the appraisal of your home. We have no interest, current or prospective, in your property. As such, it is straightforward for us to be impartial.ExcelAppraise maintains this code of ethics so we can serve you better.
Talk to Our Expert Home Appraisers
Choosing the right appraiser will save your time, money, and even help you steer clear of legal complications. We consider all the factors that help a home appraisal and use them to provide you with the most accurate report to make an informed decision. ExcelAppraise is the friend that helps you down the right path. Are you selling or buying a home? Allow us to make it easier and worthwhile for you. Call us at 1-801-882-2292 or request a free quote today!