Appraising in Delaware, the Blog...

Appraisers are looking for an array of things that can help them calculate the overall price of your home. They are there to review everything from the outside to the inside of your home. They may even use other homes in the area to compare to your home to.

The most important parts of the home are going to be the foundation, roof and walls. The simple explanation is that without those three things being in tip top shape a home can become inhabitable quickly. A foundation problem can cause issues with your doors, walls and can lead to settling or further cracking of the foundation. The roof must be in working condition to help prevent leaks, it can also stop the rusting of drains and fireplaces or mold on surfaces of the home.

The size of property will also have an effect on the price of a home. First and foremost, the more land you have the more space you have to a bigger home, which means you have the ability to have more bedrooms and bathrooms in the home. These extra bedrooms and bathrooms can quickly add up. A larger lot also means you have room for additions such as a pool, garage, deck, etc.

Updates in the home will also add equity to the home. These do not need to be time consuming or expensive updates. A simple update to paint jobs, light fixtures, floors, windows or countertops can really impress those who see them. You also don’t want to forget that things like pools, fireplaces, garages and even security systems can increase the price of your home.

A homes location and age are also very important. A safe, central location to schools, beaches and cities are desired. People want to have a home that feels safe to be in, especially when they are a growing family. Being close to desirable areas is also important because people want to be able to get to places such as stores, hospitals and even vacation spots or airports without too much trouble.

When all of these things come together appraisers are able to calculate a fair price for the home you are looking to buy or sell. They must take everything into consideration, the good and the bad. So when you are going into a buying or selling a home it is important to keep all of these things on your radar so you can know where the appraiser will be looking.

A home appraisal consists of these three components:

1. A Physical Examination of the Property- 
The physical inspection at the house may take an appraiser as little as 30 minutes to perform or could take as long as two to three hours. This depends on the size of the house, known as Gross Living Area (GLA) and also the design of the home. An artsy Contemporary style home takes longer to measure than a standard rectangular Colonial home. Physical visits are usually brief when a home is in average to very good condition. However the inspection can take a bit longer if the property is in fair or even poor condition as there are more things the appraiser must observe and notate.