As a homeowner, it's always good to know how much your property is worth, whether you're looking to sell, refinance, or stay in your home for years. Ordering a real estate appraisal gives you a professional estimate of your home's value. Several factors influence the appraisers' opinions and the conclusions they draw in their reports. The following are a few of the most common.   

What Factors Affect Residential Real Estate Appraisals?

1. Location 

The location has a significant impact on a home valuation. Three significant aspects of location that affect a property's value in real estate appraisals include whether a house is in a neighborhood or subdivision, on a country road, or a busy street. Other location-related factors that appraisers consider when assigning a higher value to a property include low crime, highly rated schools, proximity to parks, hospitals, fire or police stations, and a high percentage of owner-occupied homes.   

2. Size

Size matters to residential real estate appraisers. They measure a house's dimensions to determine its square footage, enabling them to describe its size accurately. Generally, a larger home in a neighborhood of smaller houses appraises higher, as do homes with more bedrooms and baths. Appraisers make adjustments in their reports when houses have unusual features, such as only one bedroom or full bathrooms with just a shower and no bathtub. Adding a bathroom or even a tub can increase your home's value by tens of thousands of dollars. 

3. Construction Materials & Updates

The materials used to construct your home affect its value. Generally, four-sided brick houses will appraise at higher values than frame houses of the same size and age in the same neighborhood. Making modern updates, such as new roofing, windows, or electrical upgrades, typically leads to higher valuations in real estate appraisals because the updates improve the home's overall efficiency.

When you want a professional determination of your home's value, turn to Lange Real Estate & Appraisal in Raymond, NE. This company offers fair and accurate residential real estate appraisals to area homeowners. Backed by over 28 years of experience and knowledge of the local market, this licensed professional examines all relevant aspects of a property before issuing his report. Visit the website to learn more about how he can help you, or call (402) 580-1987 to schedule a consultation.