A house appraisal is a professional assessment of a property’s value, typically required by lenders during the home buying or refinancing process. Appraisers evaluate a range of factors to determine the fair market value of the home. Here’s what they typically check:
1. General Property Characteristics
Square footage of the home and lotNumber of bedrooms and bathroomsType of foundation (slab, crawl space, basement)Presence and condition of a garage, attic, or basementBuilding materials used for constructionLayout and functionality of the design2. Physical Condition
Overall condition of the home (cracks, leaks, damages)Roof quality (missing shingles, leaks, age)Visible foundation concerns such as cracks or settlingWindows and doors (condition, insulation)Walls and floors (material, condition)Plumbing, electrical and HVAC features and visible conditionLighting and fixtures3. Interior and Exterior Features
Quality of landscaping and curb appealFireplaces, pools, decks, patios, or other amenitiesFinishing details (countertops, cabinetry, appliances, flooring)Energy-efficient features (insulation, windows, appliances)Condition of the basement or attic (finished or unfinished)4. Neighborhood and Location
Neighborhood setting (urban, suburban, rural)Proximity to schools, transportation, and amenitiesZoning classificationComparable sales (recently sold similar homes in the area)External influences (near highways, railroads, or other factors that may affect value)Proper drainage away from the houseHandrails on stairsVentilation in attics and crawl spacesVisible condition of mechanical systems5. Upgrades and Improvements
Recent renovations (kitchen, bathrooms, major systems)New appliances or systems (HVAC, water heater)Energy-efficient upgradesThe evaluation considers property characteristics and relevant comparable sales. An appraisal visit does not replace a separate home inspection or specialist diagnosis.