A house appraisal is a professional assessment of a property’s market value, typically required by lenders during the home buying or refinancing process. Appraisers evaluate a wide range of factors to determine the fair value of a home. Here’s what they check:
Physical Condition of the HomeVisible condition: Cracks, leaks, water damage and overall maintenance.Roof and foundation: Quality, age, and any visible issues.Windows and doors: Condition, type, and energy efficiency.Basement and attic: Whether finished or unfinished, and their condition.Walls, floors, and ceilings: Material, finish, and any signs of damage.Size and LayoutSquare footage: Total living area measured.Number and arrangement of bedrooms and bathrooms.Layout and functionality: Flow and usability of the space.Interior FeaturesKitchens and bathrooms: Updates, finishes, and appliances.Lighting and plumbing: Quality and condition of fixtures and systems.Fireplaces: Number and condition.Finishing details: Countertops, flooring, trim, and built-in features.Exterior FeaturesLandscaping and curb appeal: Quality and maintenance of the yard.Outdoor amenities: Pools, decks, patios, garages, and sheds.Siding and exterior materials: Type and condition.Mechanical SystemsHeating, ventilation, and air conditioning (HVAC): Type, age, and condition.Electrical and plumbing features and visible condition.Energy-efficient features: Insulation, windows, and appliances.Location and NeighborhoodNeighborhood quality: Proximity to schools, parks, shopping, and public transport.Local market trends: Recent sales of comparable homes (“comps”).External influences: Nearby highways, railroads, or commercial properties.Upgrades and RenovationsRecent improvements: New roofs, remodeled kitchens, or added amenities.Energy efficiency upgrades: Solar panels, new windows, or insulation.Other visible property featuresHandrails on stairs, proper drainage, and ventilation.Market ComparisonComparable sales: Appraisers compare your home to similar properties recently sold in the area to help determine value.The appraisal considers condition, size, features, location and relevant comparable sales. Arrange access and provide available records of major improvements.
Confirm the inspection scope in advance. An appraisal does not replace a home inspection, code inspection or specialist diagnosis.