How Do You Appraise A Homes Value?
A home appraisal can be complicated by a number of factors; some relating to the home itself, others relating to the area and market. Knowing how much your home is worth can help you determine how much you want to ask for it when you sell it. A home appraisal can also be used to stop your mortgage lender from charging private mortgage insurance. If you can show that you have attained 80 percent equity in the home through a combination of payments and appreciation of the home’s value you submit the appraisal to prove your increase inequity. Determine the size characteristics of the home, including how many square feet it is, how many bedrooms and bathrooms it has, and how large the garage is. The larger the home, the more valuable it will be. Determine the physical characteristics of the home. These include the age of the home, the current condition, and any repairs that may be needed whether they be on the home like windows or doors or permanent appliances like air conditioning or wate
