An Appraisers point of view
Home appraisal is an unbiased professional opinion of the value of your home. Appraisal is used to purchase, sell and refinance transaction. For buying or selling any property, perception of a good price for the buyer may be different from that of seller. For this reason, buyer will have to assess the home value to consider a price.
Having knowledge of what an appraiser will look at, during this process can help get a better idea for a home appraisal. Even a small amount of effort can have an impact on your house’s appraised value, which in turn will increase the equity and return on investment.
Size of the property
First, the appraiser will consider the overall size of the property. A larger property is likely to be more desirable to buyers because it gives them the possibility of expanding the home in the future. He will look for and consider landscaping, permanent fixtures and other features.
Structure / Exterior
The appraiser will investigate the structure, looking at the foundation, siding and roofing to determine the material, quality and condition of each. The appraiser also will look for cracks, leaks, damage or defects around the exterior of the house. Custom-built homes will have more value because they usually are made with higher-quality materials and are often different from others.
Once inside, the appraiser will look for the essentials that make up a house, things like the material and quality of the walls and inside roof, the type of flooring and its condition, and the number, type and quality of windows and doors.
The most often-overlooked aspect of an appraisal is the work done on the home since the owner took ownership. Any remodeling completed can influence the appraised value of your home in a positive way. The appraiser will examine upgrades to the kitchen, including the stove, oven, sink and faucet, countertops and other built-in appliances. He will take into consideration all the extra efforts that home offers, such as air conditioning, fireplaces, security systems, or smoke detectors. Outdoor amenities, such as a swimming pool, garage or gazebo, can also lead to a higher appraisal.
Front and Backyards
The front and back yards are also important to the overall value of the home as the house itself. An overgrown yard strewn with broken-down vehicles and garbage could influence the appraisal. Although appearance has little to do with the house’s overall value, front yard is the first thing the appraiser will see.