What Hurts a Home Appraisal? And 7 Things You Can Do to Fix Them
Abstract
Whichever the case, being aware of what hurts a home appraisal and how to increase the value of your home is always a great idea. How the appraisal process works Usually, the individuals seeking to buy or refinance a home pays the home appraisal fee. Home appraisal costs vary by the type of appraisal, the location of the home, and the type of property that is being inspected. A certified residential appraiser will be at your home for about 30 to 60 minutes conducting a home inspection, so your goal is to make their job easy by shining the brightest light possible on your home's finest features. 3) Your kitchen and bathrooms are outdated How to Fix It: Kitchens and bathrooms are oftentimes what hurts a home appraisal but are also great places where value can be added to a home. Neighborhood Are comparable homes within the area increasing in value? How stable are current real estate conditions? Where is the property located? How is the urban development? Site Is your house in a flood zone? Are the utilities gas or electric? What is the property's zoning classification? How are the home's water and sewer connected? Home improvements How old is the home? How many rooms are in the house? Is there storage, a finished basement, or an attic? Is there a garage? Why appraisal values are important Appraisers want to help homebuyers and ensure they're paying a fair price for a home. Ultimately, the appraisal report helps a mortgage lender determine how much money to lend homebuyers for their home purchase or if you're refinancing your home.
