House Appraisal (To Sell Our House)

Actually, things like granite (upgrades overall) are taken into consideration, but only by a small amount. Mostly it's # of bedrooms & bathrooms, square footage, overall property size, & what else has been sold in your area recently, at least, those are the biggies.

Upgrades such as granite countertops are considered in an appraisal. Any updates/remodels are considered.

When our house was appraised, the appraiser asked us what we had done over the last 6 months and everything that was fixed, upgraded, etc., was considered.

A new roof can add value to your home; upgraded kitchens and bathrooms; new carpet or other flooring; new windows, etc. are all considered.

A lot of different things go into the value. Granite can be taken into account if everyone around you has granite and you don't it takes away from your value.

Really a lot of what goes into it depends on the comp sales in the area.

Plumbing issues or anything that would be a part of the mechanical inspection will effect the price. Old roof effects the price negatively.

I know things like pools and sprinklers tend to be a question, do they work? If it is something they don't even bother to prove one way or another I get the feeling it doesn't effect the value.

Now if you are talking about an appraisal to sell a house it is a whole different ball game. What I just spoke of was an appraisal for loan purposes.

For the most accurate answer talk with a realtor and/or a real estate appraiser. Try googling real estate appraisals.

I know from experience if the systems in your house (plumbing, electricity, roof) are in need of repairs the house will appraise for less. If the pool and irrigation systems are in good working order they will add value to the house. If they're not they will not be considered in the appraisal and may subtract from the value.

Mom:

Upgrades ARE considered when appraising a home. MOST DEFINITELY. As are ANY upgrades you do in your home.

Since you are moving back to Texas - i would suggest that you get a home inspection done PRIOR to your appraisal. This way - you will know what you HAVE to fix in order to get it sold and sold fast instead of lingering on the market.

The lifespan of things are considered:
* roof (usually 15 - 20 years)
* garage door (20+ years)
* A/C and heating unit - 10 to 15 years
* windows (10+ years)
* Appliances that are conveying (washer/dryer, refrigerator, dishwasher, oven, etc.)

If these things were just recently replaced - it will add value to your home. If they are nearing the end of their lifespan - it will detract and deter potential buyers as to the amount of money they'll have to sink into it.

Other things that are considered are comparables (Comps for short). How many houses similar to yours are on the market. What they sold for.

Ask yourself this question - would YOU want to buy your home knowing that it had pool issues? defective sprinklers? plumbing issues? If the answer is NO. Then they need to be fixed or you need to lower your expectations on selling price and figure that into the cost of selling. Also keep in mind that some items MUST be fixed in order for financing to go through. So get the home inspection done.

Things that are NOT considered in an appraisal - if your home is dirty. You don't need to "clean it up" for the appraiser - however if the carpeting is coming up and the hardwood floors are badly scuffed...or the linoleum is missing some chunks...yeah...THOSE will be considered.

GOOD LUCK!!!

all of those things are considered. an appraisal is done to set the value/sales price, so cosmetic, structural and enhancements issues are all taken into consideration.
paint those door jambs!
khairete
S.

Some of the things you mentioned like fixing plumbing, defective irrigation system are part of regular maintenance. The roof on a house has a life of 20 to 30 years and depends on the part of the country you live in (hot weather and large hail stones are not good). If your area is hit with a bad hail storm your insurance should pay to replace it.

The house will be compared with similar size, (square feet), bedrooms, lot size and such. Some areas pools count and in others they don't. Curb appeal does help as they new owner does not have to do the work. Some people do not like granite tops and this could affect the sale. Basically try to get the house in "move in order" as much as possible (you move out and they can move in) and be ready to move when you put the house on the market.

Contact a local realtor and have them do a comparison for you so that you get an idea of what homes in your area are going for. They can give you more info about when you need to order the appraisal on the home and how much they cost $400 to $700 a shot.

Sometimes homes built by certain contractors are more reputable than others and sell quicker.

Good luck to you.

The other S.

I would think so. I am in the same boat here. We are selling our home, and really upset by the fact that it is going to sell so much lower then what we paid for it 7 years ago. We installed a new bulkhead, vanity in bathroom, landscaped yard, new deck, we have A/C , etc. Would like to know that all of these would be measured in some how, ya know?!

I don't know about the actual appraised value, but I do know that you can get a break on your property taxes for essential things. My parents took a picture of their cracked slab/foundation (visible in the access area under their air conditioner), took it to their property tax office, and got a reduction. Or, someone will come out and assess how much of a reduction to give you. I think the point is to give you a tax break so you can afford to fix this stuff.

I know essential things are considered, but I don't know what, exactly, is considered "essential." Plumbing and roof, definately. Sprinklers and pool - check with your local tax collector/assessor office.