You need to determine the value of a home. You might be selling one, buying one, refinancing one or inheriting one. Whatever the situation, you’ll be working with an estate appraiser in Maryland to determine how much the property is worth.
So, what factors will the appraiser consider as they determine the value of the home? This is a standard process that involves several key property characteristics. When the appraiser visits the home, they will be looking at the following.
From top to bottom, the basic structure of the property is a major factor in the home’s appraisal. The roof, foundation and walls are key considerations of the appraiser. When the estate appraiser in Maryland looks at the home, they will examine the condition of the exterior, looking for damage to any of these basic structures. Their goal is to assess the habitability, functionality and quality of these features.
While the structure itself is most important, “extras” on the exterior also affect the appraisal. Decks, patios, pools and landscaping all come into play. A well-maintained and inviting exterior can add appeal and value to the home.
Of course, the inside of the property matters, too. And it’s not just about cleanliness or the attractiveness of your décor. Estate appraisers in Maryland look at the details. They are interested in features such as plumbing, electrical, flooring, windows, doors and appliances, to name a few. They will note the quality and condition of each of these components of the home.
Home improvements are another major factor considered by estate appraisers in Maryland. What improvements have been made since the home was built? Since the last time it sold? Has the kitchen been renovated? Were new floors installed? They will also consider major systems and appliances. A new HVAC system, for example, adds to the overall value of the home, as do new kitchen appliances.
Appealing features can also add value. Fireplaces, a security system, high-grade windows and other upgrades affect the final appraisal. The appraiser will consider everything from upgraded light fixtures to home additions as they determine the value of the home.
The square footage and lot size are major factors that influence the appraisal. In addition to the size of the home, the estate appraiser in Maryland will be interested in the number of bedrooms and baths included in the floor plan.
You’ve heard about the importance of location when it comes to real estate. Where your home is located and the value of the properties around it also affect the appraisal. In addition to looking at the condition of the home in question, the appraiser will view recent sales of comparable properties in the area. This will help determine the final appraised value of the property.
Do you need an expert estate appraiser in Maryland? When you want an accurate, fair and timely appraisal, contact the professionals at Jane Campbell-Chambliss & Associates, LLC. We are a full-service appraisal firm with over three decades of industry experience. Reach out to us today to get started on your appraisal.