When you’re working with an estate appraiser in Maryland, you may be wondering exactly what information they’re using to determine the value of your home, furniture, valuables and other assets. To the outside eye, it may seem like many of the appraiser’s valuations are arbitrary or subjective.
In fact, estate appraisers use specialized knowledge and a breadth of industry expertise to accurately and correctly gauge the value of real estate, jewelry, artwork and more. When you’re working with an appraisal firm, you’re working with highly knowledgeable professionals who possess access to the most current market data.
Estate appraisers use a standardized rubric to evaluate the worth of your real estate and the items that you keep inside your home. It’s important to have an appraisal conducted every few years, or directly before liquidating your assets, because there’s a good chance that changing market conditions have altered their value.
While the specifics of your valuables are measured according to the type of asset that they represent, real estate is measured using a fairly predictable set of tools.
Here are just a few of the things that an estate appraiser in Maryland is evaluating when they tour your home:
- Condition of the home’s exterior: The first thing that the appraiser will examine is the condition of your home’s exterior. Curb appeal goes a long way toward establishing a home’s value. In fact, if your home has significant aesthetic issues on the outside, it may significantly drive down its value. Consider slapping on a fresh coat of paint or investing in gutter service prior to your appraisal.
- Size of the property: The size of the home itself plays a significant role in any real estate valuation, as does the size of the property surrounding the home. For instance, a small home on a large lot will be valued differently than a larger home on a smaller lot. The local market conditions in your area will largely determine the value of your property per square foot.
- Additions and improvements: If you’ve made any additions to your home since acquiring it, these could add significantly to the valuation you receive from your estate appraiser in Maryland. Additionally, improvements like new roofing or a renovated kitchen could also meaningfully elevate the value of your real estate.
- Special features: If your home has any special features, like a home theater or an outdoor kitchen, these could also elevate the value of your home by providing a unique selling point that differentiates it from other market offerings. These seemingly small features can go a long way toward elevating the valuation you receive from your real estate appraiser.
Jane Campbell-Chambliss & Associates, LLC is a trusted estate appraiser in Maryland. We’re proud to provide the Old Line State with a range of appraisal services. We are a family owned and operated appraisal firm. If you’re hoping to learn the accurate market value of your home, real estate or other assets, reach out to one of our friendly, highly qualified appraisers today to schedule your valuation.