Home Appraisal: Things That Can Hurt Your Home’s Market Worth

Getting your home appraised before listing it on the market is a crucial step that every seller must consider. When it comes to a home appraisal, it is an unbiased decision by a professional, which states the current market value of your home, but make sure you hire a qualified and certified professional for your state.

In simple words, your home appraisal value will help you determine the fair sale price for your home. Not only sellers, but the appraisal is also essential for buyers. For example, they will need it when taking out a mortgage to purchase a new house. It will help the lender to offer a loan as required. However, certain factors may influence your home appraisal, which leads to the low market value of your home. If you want to sell your house fast in Milford at a fair price, then you should know about the things that can potentially hurt your home appraisal value.

Luckily, in this post, we will look at some factors that hurt a home appraisal most. But before we start, let’s have a quick peek of what happens during a home appraisal.

●       First, your potential appraiser will dig into external factors of your property, such as the characteristics of your neighborhood, whether suburban, urban or rural. Plus, the professional will evaluate the zoning classifications, how much the land is used, types of nearby housing, etc.

●       After this, the appraiser will determine the lot size, and look for public utilities available at your property, such as water and sewer. Did we mention that they will note the car storage space and the type of driveway surface as well?

●       Once they complete the external evaluation, the next step is analyzing the internal characteristics of your property, including:

●        The number of bathrooms and bedrooms

●       Square footage

●       Upgrades in kitchen and bathroom,

●       Crawl space, basement and attic

●       Foundation

●       Windows, walls and floors

long with this, your appraiser will also look closely to determine the total living area in your home.

Here are the factors that hurt your home’s market value the most:

To begin with, the first factor that can influence your home appraisal value is your location. Well, there is nothing about it that you can do to improve your neighborhood. However, properties located near schools, hospitals, parks and beaches get the higher home appraisal value. Other controllable factors that have a negative influence on your home’s worth are:

●     Damage at the structural level

●     Decayed home

●     Unpleasant and mismatched exterior paint colors

●     Disorganized landscape

●     Unnecessary renovations and upgrades

●     An untidy home with no maintenance

 

A home appraisal is considered a stressful and inconvenient process because it brings up costly repairs and renovations. If you think coping with all these tasks is tiresome, then let the professionals like real estate cash buyers in Milford handle it for you.

 

If you’re not able to find a dependable buyer in Milford, get in touch with Detroit Cash For Homes. By partnering with them, you don’t have to ask yourself, “how do I sell my house fast in Milford” anymore.  We will buy your home regardless of its current condition. Plus, you don’t have to spend money on repairing and upgrading it.