When you buy a home your lender will require an appraisal and even if youre paying cash you should have an appraisal done to make sure youre not overpaying. Its a good idea then to know how appraisers determine the value of Snellville Georgia properties. An appraisal is an unbiased (supposedly) estimate of what the home is actually worth. It does include a subjective element but appraisers use an objective process to arrive at a pretty accurate assessment of value. In general appraisers look at recent sales data for similar properties the condition of the property and location. What Appraisers Look at to Determine Value Appraisers determine the value of Snellville Ga properties primarily on the basis of the market and the condition of a property. And that condition involves construction and maintenance matters such as: BASIC CONSTRUCTION The very first things an appraiser will examine are the fundamental aspects of a homes construction the foundation the walls (especially with respect to solid framing) and the roof. The appraiser will be looking for any defects or damage to these basic construction components to ensure that the mortgage lender is lending on a property that has the requisite equity. PROPERTY SIZE Lot size and the homes square footage also help appraisers determine the value of Snellville Ga properties. Obviously larger lots and larger homes are worth more but mere size doesnt tell the whole story. A larger home with more bedrooms and bathrooms will be worth more than a similar sized home with fewer of these rooms. CONDITION OF INTERIOR Whats on the inside especially inside the walls matters as well nearly as much as the basic exterior construction aspects. Heres what appraisers look at on the inside: Doors Windows Walls Wiring Plumbing Bathroom fixtures Kitchen appliances Flooring IMPROVEMENTS In addition appraisers determine the value of Snellville properties based on the number and quality of improvements. These value-increasing improvements include such things as a bathroom remodel kitchen update new floors new appliances and installation of a new HVAC system. These updates contribute to the propertys lasting value and so are attractive to both lenders and buyers. EXTRA AMENITIES Appraisers will also factor in any extras when calculating market value. These extras can be anything from a pool to a deck to a security system. The Process of Determining the Value Appraisers determine the value of Snellville property using a fairly standard and objective process. And the main tool for calculatingthe actualmarket value (after looking at all the aspects mentioned above) is the comparable sales price approach. Basically an appraiser uses market data for the homes that are most like the one under consideration thatareclose by (preferably in the same neighborhood) and that have sold recently. Ideally the data will be for homes that have sold within the last three months with more recent being even better. And the homes used for the comparison must be the most similar to the one being appraised for example having the same square footage the same number of beds and baths and similar construction. But the appraiser will make comp adjustments for any differences. Comparing one home against similar ones in the are that have sold recently will give the appraiser a pretty accurate idea of what market value is. But again age location condition updates and amenities all factor into the determination of market value as well. And thats how appraisers determine the value of Snellville properties. Still theres more that goes into it especially such subjective matters as soiled carpets and odors and you can even challenge an appraisal you think is too low. The city of Snellville Ga is located about 35 miles north of Atlanta. It is located in Gwinnett County Ga. The population is approximately 23 ooo people. It was charted as a city in 1923. The citys motto was everyone is someone in Snellville. Snellville has one major hospital called East Side Medical. There are two main parks in Snellville Thomas Briscoe about 100 acres and Lenora Church 112 acres. Snellville is a great place to live. Do you want to learn more about the way appraisers determine the value of property in Snellville ? We can help! Send us a message or give us a call today! 678-337-1165 The post How Appraisers Determine the Value of Snellville Properties appeared first on Fresh Start Home Sales. via Blog Fresh Start Home Sales https://www.freshstarthomesales.com/how-appraisers-determine-the-value-of-snellville-ga-properties/