Property Appraisals – What Determines the Value of Your Home?

When you want to sell your home, you likely have a particular amount in mind that you would like it to sell for. This could be based on how much you paid for your home originally, how much a neighbor sold their property for, or even the amount you need to afford the home you want to buy. But the real value of your property is based on very different factors, so a property appraisal can be a big surprise. Here’s some insight into how property appraisals work and the factors that influence the sale price of your home.

What happens in a property appraisal?

Property appraisals are used when you are selling a home, refinancing your home, or even buying a new property. It’s important for both buyers, sellers, and lenders because it creates an unbiased, objective report that establishes the value of the property. This helps to price the property for sale and ensure that the investment is justified and supported by the value of the property.

This is what property valuators consider during property appraisals

• Structure – The condition of the structural elements and construction materials of the property. Cracks, damp, and damage will lower the value of the home, while upgraded, quality siding, windows, and roofing will increase its value.

• Electrics – Electrical wiring must be up to code, safe, and functional. Exposed wiring, damaged and exposed wiring will negatively impact the value of the property, while updated and well-installed electrical systems will increase the home’s value.

• Age – An older home won’t necessarily have a lower value than a modern one. If your 20–30-year-old property is solidly built and well-maintained, it’s considered a low-risk investment. Historic homes in good condition also consistently score high valuations.

• Style – This depends a lot on current market trends. If 50s and 60s-style homes and interiors are in fashion, having this style will have a positive impact on the valuation. Styles with consistently high valuations include modern neutral homes, craftsman homes, Queen Anne homes, Brownstones, and art deco homes.

• Rooms – Here, it’s all about having the right number and size rooms that the market in your area wants. For example, if you are in an urban environment and have a 2–3-bedroom apartment, you’ll have a higher valuation. However, if you are in a suburban family area, you’ll have a lower valuation if there are few bedrooms.

• Square footage – It’s almost impossible to have too much square footage, so the larger your home is, the higher the valuation you’ll get. Again, this also depends on what’s available in your area. If you have large square footage and your neighbors don’t, that extra space will be worth a lot more – especially if there’s not really room to expand the property.

• Parking and storage – Having space to park, whether it is a large garage on a suburban home or a dedicated parking space in the city, is great for your evaluation. Similarly, if there’s good storage space, that’s a very sought-after thing for buyers. A home with a 3-car garage will be valued at considerably more than the exact same home with a single or no garage.

• Upgrades – Buyers respond well to practical upgrades, so these will impact your property value. Good examples include modern appliances, high-efficiency heating and cooling, solar power, high quality windows and doors, good curb appeal, new garage doors, and quality flooring. It’s good to focus on these projects rather than building a pool or updating the kitchen or bathrooms. This is beacause buyers typically like to redo these themselves, so the return doesn’t usually cover the cost.

• The location – Homes with the best valuations are typically in areas with low crime, reputable schools, walkable and well-maintained spaces, on quiet streets, and in an area that’s an easy commute to the city. Property appraisals also consider what similar homes in your area have sold for. Noise, poor access to amenities, and living in a high rental density or foreclosure area can all bring the value of your property down.

Cash Property Buyers in Fort Worth Sell Your Property in 24 Hours

If you want to sell property fast without having to look for a buyer, deal with a real estate agent and pay their commission, or even empty the property, then the best option is to sell directly to cash property buyers in Fort Worth. At Shiny Key Properties, we purchase property in any condition, at any time of year, from well-kept family homes and inherited property to teardowns.

We can sell your property in 24 hours, putting a lump sum into your account in just a few days. Here’s how our process works:

• You enter your information on our website. We’ll contact you directly to discuss an offer for your property (you can also get a free property evaluation from our website)
• You can accept or reject the FREE NO-OBLIGATION offer
• Cash will be deposited into your bank account – with no real estate agent fees
• We can handle all aspects of the process, including clearing out the property
• You can also call us directly on 469-858-008

That’s all there is to it!

You can also download our FREE eBook for more information on how to sell your property in 24 hours.

Our team is compassionate and highly motivated to offer you the best possible market-related price for your property, so you can sell your property in 24 hours. Not only does this cash go straight into your bank account as soon as the sale goes through, but you also pay zero real estate agent commission.

At Shiny Key Properties, our trained consultants have years of experience in assisting local and out-of-state property owners to sell their property. To find out more about our cash for property Fort Worth service, please contact us today and speak to one of our friendly team members.