If you are buying a new home, you should always get the home appraised. This will determine the approximate value of what the home is worth before you purchase it. This will help ensure that you are paying the right price for the home. When you hire the appraisal service, below are three factors they will consider when determining the value.
Type of Home
The appraiser will first determine how many stories the home has. The appraiser will also determine if the house was factory-built or built onsite. This can make a big difference in the price of the home. The materials used in building the home will also be a big factor, as a brick home will be worth much more money than a home built with traditional siding.
Whether or not the home is a log home, ranch style home, or cottage will also play a role in the appraisal.
Features and Design of Home
The appraiser will then look at the features and design of the home. Materials used are also important as it can be a different price. For example, if the kitchen has expensive cherry cabinets with granite countertops instead of wood faced countertops with a laminate countertop, this would cost more. The flooring will also make a difference, as tile flooring can be more expensive when compared to laminate flooring.
The bathroom is something else the appraiser will look at. A bathroom that has a shower with glass doors will be more expensive than a home that has a traditional shower/bath combination.
Improvements to the Home
The appraiser can determine if there have been any improvements made to the home recently. This could be a new HVAC system, new carpeting, new kitchen flooring, and much more.
The appraiser will determine the types of windows that are installed in the home. For example, double pane windows are more expensive and they will also make the home much more energy-efficient. This will cut down on the energy bills each month. The appraiser will also check the HVAC unit to ensure it is the right size, as this is important. This is because if the unit is not sized correctly the HVAC unit will have to run longer to keep the temperature maintained in the home. This would cause your energy bills to be much higher, as well as put a lot of extra work on the HVAC unit.
Talk with the appraisal service that you hire, and they can give you much more information.