Property appraisals can vary according to the property and lender, but they typically assess the same basic things. The following is a list of what you can expect your appraiser to pay attention to.
Your appraiser will take note of your home’s square footage and the amount of land it’s sitting on. They will also take note of how many bedrooms, bathrooms, and floors you have.
Overall Condition and Age
The appraiser will take into account the overall condition of the home, such as the type of materials used, whether it’s habitable, and if anything is broken or structurally unsound. They’ll also want to know how old the home is.
Appraisers pay attention to the area your home is located in. They’ll note whether you’re surrounded by rental homes, foreclosed or abandoned homes, stores, highways, and similar things, as all of this can impact your home’s value.
The type of parking you have may not affect the sales price much. However, they’ll still consider whether you have to park on the street, have a driveway, or have a garage.
Signs of Water Damage or Infestation
Appraisers keep an eye out for any signs of water damage or pest problems. These can potentially impact the value a great deal as small signs can mean major trouble.
Improvements and Upgrades
If you’ve made any improvements to the home, the appraiser will include these in the assessment. Not all improvements impact the value, but many – such as upgrading bathrooms and kitchens – often do increase it.
In addition to these general items, some lenders require appraisers to take note of other features. For example, if you are selling a home in DeBary and the buyer is applying for a VA loan, then a property appraisal Volusia County-based might look for specific safety features, such as handrails on staircases. These additional assessment requests will typically vary according to the loan type and the lender.