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What does a home appraisal consist of?

November 14, 2018 10:00 am by Upside

If you’re getting a home appraisal, you might be curious about exactly what it is that’s getting appraised. While property valuations and property appraisals are different, appraisers are looking at similar aspects of your home in order to make their estimate. Read on to find out exactly what your home appraisal criteria are.

RELATED: What are the steps in the home appraisal process?

The property’s exterior

Beauty is in the eye of the beholder, and your property’s curb appeal is an important element of the home appraisal. So when conducting a market appraisal real estate agents will check for visual elements like the garden, the state of repair (any visible cracks, etc.), the quality of the painting and style of the property.

RELATED: Why do some agents give dodgy price guides?

The property’s interior

Of course, the next step is what’s happening inside. They will look at the number and size of the rooms, any improvements or renovations, the quality of the appliances and layout. This will help them make comparison with other similar properties in your area, as it’s important to compare like for like when doing a new home appraisal.

The size of the land

An important element of the value of your property is the size of the land. This is particularly true if the agent is going to market it as a ‘fixer upper’ or a knock-down – big land size will attract people who want to build their own brand new home or put their own stamp on an existing property by renovating.

Extras that improve the value

Depending on your market, the real estate agent appraising your home will note down different attractive elements of your home. For example, if you have a swimming pool, air conditioning, built-in wardrobes, a double garage or great appliances, these can all be mentioned in the advertising materials to boost interest in your home, as they are good value adds.

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To book your free house appraisal, get in touch with Upside today. Upside will sell your property for a low flat fee, while providing all the service you’d expect from a traditional agent, plus more.

Upside

Upside is an Australian-owned, full-service real estate agency with one low fee and no commission. Our standard is other agents’ ‘extras’, delivering vendors a complete agent managed service including a full appraisal, open home management, copywriting, photography, signage and advertising. It's the way real estate should be.

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