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7 Factors That Affect a Home Appraisal

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7 Factors That Affect a Home Appraisal

An appraisal is a critical part of the homebuying process, as it determines the value of the property before a lender agrees to move through with a mortgage. But how is this value calculated? Check out this list of seven factors that impact the value of a home during an appraisal.

What is in a Home Appraisal

Location and a Home Appraisal

A home’s location could impact its value based on several factors, including crime rate, school district, road maintenance, and the distance between the house and schools, hospitals, fire stations, and police stations. If the home is next to an undesirable neighboring property, like a landfill, its value may be lower. Also, the home’s location within the community may affect the value. If the house is on a quiet street, it may be worth more than a home on a busy road in the same neighborhood.

Home Appraisal and the 7 key topics

In this post you can understand all the components that go into a home appraisal, some you can control and others you can’t.  Getting your home prepped for an appraisal is important but also understanding market conditions with give you a base.  A great agent is going to be able to put all of these elements together so you will have a good idea of what your home is going to appraise for. 

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Carrie Ann Kilpatrick

Northeast Florida Luxury Living

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