We often hear the realtors saying that the property is being appraised because of certain features or ongoing developments. A lot of homes for sale in Abbotsford are appraised by the realtors based on the features that are built within.
If you are doubtful about the home appraisal process, then you must read the following lines to understand what factors help in a property's appraisal, so that you can invest your hard earned money in the right property. Here is a list of some factors that are taken into keen consideration whenever a property is undergoing appraisal.
- Current Market Scenario: Identify if the current market scenario is favourable for the seller or the buyer. A scenario favouring the buyers brings competitive prices and advantageous situations for the buyer while a seller's scenario benefits the seller with limited inventory and more bidders.
- Age Of Property: Certain ancestral properties can be a great attraction and might also bring more business opportunities after its purchase. A lot of people are interested in vintage buildings and thus a strong foundation and historic association can help appraise a property better.
- Location Of Property: Location plays a major role in a property's appraisal. A desirable location is the one that has access to all major amenities easily and has a no crime neighbourhood. Natural wonders like beaches, mountains and oceans are just an added advantage for your property.
- Quality Of Material Used: A strong foundation will make a house that will stand the test of time. Bricks, wood, concrete and all other building materials need to be of high quality in order for a property to get a higher appraisal. Stronger the foundation higher the price.
- Construction Styles: A certain set of houses located in the area are enough to signify their heritage and how give you a clear idea about their age. From houses to condos, from houses with acreage to townhouses. Each structure tells a story about the style that prevailed in the area over the years and has an impact on the property appraisal.
- Accommodation: The number of rooms, bathrooms and living area, all create an impact on the value of a home. For dynamic families or youngsters having a spacious house, is of importance while retired folks might want something small. Selling price will be a subject to the buyer's interest in the property.
- Property Dimensions: The footage of a property has a direct correlation with the price of a property. More square footage means more price. An appraiser can get you the exact value of the property if you are really interested in it.
- Ventilation & Heating: Check for the source of heat in a place and see if it is well ventilated. You might also want to check if the property has central cooling or would it require individual units to maintain the temperature. These factors affect the value of a property to a great extent and the buyer should be aware of it at all times.
- Additional Storage: Storage places like the attic or the basement are a great addition to the property and the liveable space. If they are segregated into rooms then it can be an addition in the appraisal of the property.
- Parking Space: This is very important in case of urban residencies and condos. Identify your parking space clearly before making any offer for a property. While desired parking space will appraise the home, an insufficient amount will definitely decrease it.
Visit http://abbotsfordhomeforsale.ca/ to see the available listings in your desired locations at very competitive prices.