When it comes to buying, selling, navigating a divorce, or settling an estate, one of the most important questions you’ll face is: What is this property really worth?
We know that getting a fair and accurate appraisal isn’t just about numbers. It’s about peace of mind during some of life’s biggest transitions. Whether you’re juggling estate responsibilities or preparing to sell your own home, understanding what affects your property’s value can help you feel more confident in the process.
Here are the top five factors that influence your home’s appraised value.
1. Location
The old saying “location, location, location” is true for a reason. Appraisers look closely at:
- Neighborhood values
- Local school districts
- Proximity to amenities like shopping, parks, and transportation
- Crime rates
Even homes with similar features can have very different values depending on where they’re located.
2. Comparable Sales (“Comps”)
Appraisers rely heavily on recent sales of similar homes in your area. These “comps” provide a real-world snapshot of what buyers are paying. Adjustments are made for differences, including extra bedrooms, square footage, updated kitchens, and larger lots, to make an accurate comparison.
Home Size and Usable Space
Square footage matters, but so does how the space is used. Appraisers consider:
- Total square footage
- Number of bedrooms and bathrooms
- Finished basements or attics
More usable, functional space typically adds value.
4. Condition of the Property
A well-maintained home usually appraises higher. Appraisers take into account:
- Age of the home
- Updates or renovations
- Ongoing maintenance and overall structural integrity
Homes that show signs of neglect or deferred maintenance often see lower valuations.
5. Market Conditions
The broader real estate market plays a big role. Factors such as:
- Local supply and demand
- Interest rates
- Seasonal buying and selling trends
These market conditions can shift values up or down, even in just a few months.
Bonus Considerations That Can Make a Difference
While the five factors above are the main drivers that influence your home’s appraised value, the following can also contribute to it:
- Unique features
- Curb appeal
- Energy efficiency upgrades
- Lot size
- Outbuildings
Tips for Homeowners
Small improvements can make a difference in your home’s appraised value. While major renovations aren’t always necessary or cost-effective, addressing the basics shows that your property is well cared for and can help it stand out in the appraisal process.
- Fix Deferred Maintenance: Take care of the little things, like leaky faucets, squeaky doors, broken light fixtures, or chipped paint. These small repairs signal that the home has been maintained.
- Boost Curb Appeal: First impressions count. Simple updates such as fresh landscaping, a tidy yard, or a newly painted front door can make the property appear more inviting.
- Declutter and Deep Clean: A clean, organized home helps appraisers (and future buyers) see its full potential without distractions.
- Highlight Upgrades: If you’ve made energy-efficient improvements, updated appliances, or installed new flooring, be sure to provide documentation. These updates can positively influence the appraisal.
Even modest efforts before the appraiser arrives can help present your home in the best possible light.
Why It Matters
Whether you’re selling, refinancing, dividing assets in a divorce, or managing an estate, having a certified, unbiased appraisal gives you the clarity you need to move forward with confidence. Life transitions are stressful enough — understanding your property’s value shouldn’t add to the uncertainty.
Have questions about your property’s value? We’re here to help.