Appraisers often value houses in $500 increments, so if there’s a repair over $500 that can or should be made, do it. Fix leaky faucets, broken windows and cracked ceilings. Check your curb appeal. Overgrown landscaping and broken garage doors will work against you and your appraisal—especially
A home appraisal also protects the bank from getting stuck with property that’s worth less than they’ve invested. And it protects you from paying too much for a house simply because it was love at first sight. The home appraisal is a no-nonsense factor in a decision that is often emotional for the buyer.
Market Approach. If square footage is not available for the comparable transactions, use the number of bathrooms and bedrooms as a baseline for comparison. You can also use rough estimates for estimating square footage by using your own home as a frame of reference, and county assessors often provide this information online.
How to Appraise Your Own House. An appraisal is used to value your home based on the current market conditions. Appraisals are required by mortgage lenders to validate that the loan does not exceed the value of the home, whether for a purchase or a refinance. While you can’t appraise your own home for the purposes of a loan,
When you’re trying to figure out how to value a house, there are some clues you can pick up right here on Zillow. We’re partial to starting with the Zestimate® home value, of course. Zillow’s Zestimate is based on data from sales of similar homes in the area.