What Can Lower My Home Appraisal — And Can I Do Anything About It?
What can lower appraisal? This guide discusses common factors that may reduce your home's value and how to address them before selling.
When you get your home appraised, you root for that appraised value to come back as high as possible. However, the job of an appraiser is to provide an impartial opinion of value, not bend to your wishes. They assess the condition and features of your individual home and put it into the context of your surrounding market. So it’s natural to wonder, what can lower appraisals?
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The appraisal process involves looking at a combination of factors specific to your property (such as its structure, condition, and size) and which direction the local market is headed at the time that the home is appraised. If there are any red flags in your home’s condition or the market is cooling down, your appraisal could take a hit. Knowing what impacts the final number can help you prepare and potentially boost your home’s value.
To make sense of it all, consult this guide to the common variables that may reduce your home’s appraised value and whether there’s anything you can do to help your property’s value shine.
