Category: Real Estate

5 Surprising Facts About the History of Architecture

Architecture is an essential part of our daily lives, and it has been for thousands of years. From the great pyramids of Egypt to the towering skyscrapers of today, architecture has played a critical role in shaping our world. While we may be familiar with some of the most famous structures in history, there are still many surprising facts about architecture that remain unknown. Today we will explore five surprising facts about the history of architecture that will deepen our understanding of the field.

Fact #1: The Oldest Surviving Building is over 12,000 Years Old

When most people think of ancient architecture, they probably picture the great pyramids of Egypt or the temples of ancient Greece. However, the oldest surviving building in the world is actually located in Turkey. Göbekli Tepe, which dates back to around 10,000 BCE, is a megalithic structure that was built by hunter-gatherers. The site features a series of massive stone pillars that were arranged in circular patterns, and it is believed that the structures were used for religious purposes. The discovery of Göbekli Tepe has forced historians to rethink the timeline of human civilization and the development of architecture.

Fact #2: The Great Pyramid of Giza Was Originally Covered in Limestone

The Great Pyramid of Giza is one of the most iconic structures in the world. Built over 4,500 years ago, it remains a testament to the ingenuity and skill of ancient Egyptian architects. While most people are familiar with the pyramid’s current appearance, few know that it was originally covered in smooth white limestone. The casing stones were removed over time, likely due to weathering and looting, and today, only a few of them remain at the base of the pyramid. The original appearance of the Great Pyramid gives us a glimpse into the incredible craftsmanship of the ancient Egyptians and the awe-inspiring sight that it must have been to behold.

Fact #3: Frank Lloyd Wright’s Fallingwater Was Built Over a Waterfall

Frank Lloyd Wright is one of the most celebrated architects of the 20th century, and his masterpiece Fallingwater is a prime example of his genius. Built in 1935 for the Kaufmann family, Fallingwater is a stunning home that sits atop a waterfall in rural Pennsylvania. The house is an integration of nature and architecture, with large windows that provide panoramic views of the forest and waterfall below. While it may seem like a dream home today, building Fallingwater was not without its challenges. Wright had to work around the natural terrain and ensure that the house was structurally sound given its precarious location.

Fact #4: The Sydney Opera House Was Almost Never Built

The Sydney Opera House is one of the most recognizable buildings in the world, but it almost never came to be. The project was first proposed in the 1940s, but it faced significant political and financial hurdles. The initial budget was vastly underestimated, and the construction of the building faced numerous delays and setbacks. It wasn’t until the intervention of the architect Jørn Utzon, who designed the building, that the project was finally completed in 1973. Today, the Sydney Opera House is one of the most iconic structures in Australia and a symbol of the country’s cultural heritage.

Fact #5: The Eiffel Tower Was Originally Built as a Temporary Structure

The Eiffel Tower is one of the most famous landmarks in the world, and it has become synonymous with the city of Paris. However, few people know that the tower was actually built as a temporary structure for the 1889 World’s Fair. The tower was designed by Gustave Eiffel, a prominent engineer of the time, and it was meant to showcase France’s technological prowess. The tower was nearly dismantled after the fair ended, but it was saved because of its usefulness as a radio tower. Today, the Eiffel Tower is a beloved symbol of Paris and one of the most visited tourist attractions in the world.

5 Tips On Buying Your First Home

Buying your first home is one of the biggest milestones in a person’s life. It’s becoming harder each year for someone to buy their first home, but there are still around 2 million people each year in the United States that are making that big leap. Unfortunately, many of those people come into the process completely unprepared, and there are millions more that don’t end up pulling the trigger on that first purchase.

If you’ve been considering buying your first house, you don’t want to go into it blind. Here are five tips on buying your first home that will get you through the process easily and coming out on the other side happy with your big purchase.

Build Your Credit

How much you end up paying in interest and on a per-month basis will truly come down to your credit report. When you’re financing a home, mortgage companies want to know how much they can trust you with potentially hundreds of thousands of dollars. Before you even consider buying a home, get an up-to-date credit report to see what improvements you can make. Paying down credit cards and student loans will play some of the biggest factors.

Even if you have high debt balances, you can still achieve good credit. Your debt-to-income ratio is a large deciding factor, as well as on-time payments. If you have a solid income and have been making payments on time for years, there isn’t too much to worry about. Still, try to make your credit as close to perfect as possible before you have it looked at by mortgage companies so that you can maximize your savings.

Shop Around

When you’re looking for something like a new car or even a piece of furniture, you tend to look around for the best price and the best reviews. For something like a computer chair, you probably read reviews on at least a dozen different Amazon listings, but a shockingly low number of people do the same with mortgages. In fact, only around 15 percent of people shop around the different mortgage companies.

Not only that but only two-thirds of first-time home buyers actually shop around for the house itself. There’s a lot of pressure to sign on the dotted line because of the fear of missing out (or FOMO, if you will), but you don’t want to jump headfirst into something that you’re not ultimately going to be satisfied with. Look around all of the listings, tour the houses yourself, and don’t offer until you fall in love.

Collect Cash

Cash has always been king in the real estate market, but there was a time when a vast majority of homes were purchased through mortgages. These days, though, with corporations buying up real estate and retirees having plenty of cash on hand, you might not be able to even purchase a house with the highest bid if you have to go through a mortgage company. Because of this, try to make sure you have as much cash to spend up-front as possible.

Not only does this look good for when you’re making your bid on that first home, but it will also keep your mortgage payments down. It’s hard to liquidate all of your assets so that you have cash, and you don’t want to do it without already having a plan in place. With that in mind, crunch the numbers and see how much cash you’ll be able to get by a certain date to make the process easier.

Know What You Need

One way that you can save a lot (and we’re talking tens of thousands of dollars) of money is by knowing exactly what you want from a house. Do you really need two or three extra bedrooms, an attached garage, and a finished basement if you’re living by yourself or don’t plan on having any children? If you can afford it, go for it, but don’t buy a lot more than you need.

You should also think of the location. You may be able to get a bigger house in the suburbs for the same as a smaller home in the city but think about the commute. If you work remotely more often than not, then the suburbs may suit you better, but city workers will dread that traffic-filled daily drive.

Find A Good Agent

You can go into the buying process on your own and you may turn out just fine, but if you’re a first-time home buyer, it’s best to work with an agent so you can learn the finer details of the process. 

If you want the best price and have someone that’s able to find any defects that will need repairs, a buyer’s agent is the way to go. In most cases, they don’t cost much, either, allowing you to focus on that down payment.

5 Tips To Sell Your House

Selling a home is one of the most stressful times that a person can go through because you also have to set up the purchase of your next home. If you’re thinking about getting into that process, here are five tips that you need to follow when selling your house.


One thing that almost every seller does before listing their home is to renovate. Many feel that if they add a few bells and whistles that they can increase the value of the home tremendously, but not all renovations are equal. If you’re doing something like adding new doors or replacing the appliances, you may actually be doing more harm than good. The buyer will likely end up replacing those items anyway, and it doesn’t add to the home’s overall value.

Instead, you should be focusing on renovations that fix any problems the house might have, as that’s where the real added value comes in. Remodeling bathrooms can end up being the most fruitful, while also adding a small deck, porch, or patio can do more good than you think. The bedrooms and living room are going to be completely redone by the new resident, so it’s best to just focus on the bathrooms, kitchen, and exterior.

Work With an Agent

Now comes the time when you get to compare yourself to a professional athlete. If an athlete is working without an agent, they’re probably going to be losing out on millions in guaranteed money and incentives. The same applies to someone that’s selling their home, although it’s more likely in the thousands rather than the millions. Unless you’re selling directly to a friend or family member, it’s important to work with a trusted agent, and even then it might still be a good idea for paperwork reasons.

Speaking of paperwork, one of the biggest reasons to have an agent take care of the sale of your home is because they can do all of that for you. They’ll also have a wider scale of contacts that can start a bidding war for your home, getting you the maximum value. Sure, you could go through all of that yourself, but you’d be spending so much time trying to get the best price that the time you lost out on would negate that.

Beauty On The Outside

You could have the most gorgeous interior that would bring a world-class architect to their knees, but none of that will matter if you can’t get people in the door. The exterior of your home is essentially the handshake of any meeting, you want to make sure you get it right to set a good impression. This means that your lawn (if you have one) should be perfectly mowed, and any debris should be removed.

Selling your home would be a good time to call a landscaper, setting up massive curb appeal to any passersby. If you don’t have a powerwasher, it would also be a good time to rent one and work on your home’s exterior. Once you have everything looking in tip-top shape, more people will be inclined to check out the inside and fast-track the sale of your home.

Get Clean

Now that the exterior of your home has been beautified, what should you do to the inside to make it more appealing? The saying goes that less is more, and that certainly applies to a home for sale. Try to keep only the basics visible like beds, couches, and other furniture. Avoid keeping personal items out on display, too, as your home will be photographed for sale.

Above all else, though, you have to deep clean your home. The carpets or hardwood floors should be immaculate. it might be time to replace the curtains and drapes, and it shouldn’t cost a ton, but invest in cleaning the house even if a professional is needed.

Look At The Bids

There was a time when someone would put their house up for sale and would receive a handful of offers that were all backed by mortgages. These days, however, there are corporations that are buying up real estate left and right and retirees that are willing to pay cash. There are also going to be more bids than you can keep up with. Because of this, it’s tempting to simply take the highest bid and call it a day.

You should look deeper into each bid, though. Do you really want your home to be bought up by a large company that’s only looking to drive up real estate prices in your area, or would you rather sell to someone that will actually be living in the home? There are a lot of factors to weigh, and cash payments are certainly the most tempting as they don’t come with much paperwork.

Advantages & Disadvantages of Investing in Commercial Properties

Investing in commercial properties can be an attractive and profitable option for businesses seeking to diversify their portfolio and enjoy multiple streams of income. However, like all investments, there are both advantages and disadvantages that should be taken into consideration before taking the plunge.


Long-Term Growth Potential

Most commercial property investments appreciate over time, creating a good opportunity to make a significant return on investment over the long term. This appreciation is driven by increasing demand for certain property types as well as economic conditions within local markets.

Favorable Tax Structure

The tax benefits associated with owning commercial property are often more favorable than those associated with traditional investments such as stocks and bonds. These include deductions on mortgage interest and operating expenses, along with potential depreciation deductions used to reduce taxable income.

Income Generation

Commercial properties generate rental income from tenants that help cover the costs of ownership while also providing extra money to put towards other investments or lifestyle activities. If structured properly, the rental income from these properties may even provide enough cash flow to live off of without having to seek employment elsewhere!


High Initial Cost

Purchasing commercial real estate requires a significantly larger up-front investment than many other investment types, meaning you’ll need liquid funds or access to lines of credit in order to finance your purchase. There will also likely be additional legal fees related to closing on the property as well as inspections which can add up quickly if not planned accordingly beforehand.

Management Costs

Managing a commercial property comes with its own set of costs such as marketing, maintenance, and repairs that must be paid out of pocket or deducted from revenues generated by renting out the space (if applicable). Additionally, depending on your level of expertise you may need assistance from experienced professionals who can guide you through legalities related to ownership/tenant regulations, etc., which further adds to these cost burdens. Lastly, it’s important to remember that owning a commercial property means you are responsible for finding tenants – an often difficult process in itself – and evicting them should they fail to pay rent or cause damage beyond what has been agreed upon in contractual agreements prior to tenancy commencement.

Risk Factors

With any type of investment, there is some degree of risk involved – especially when it comes to physical assets such as real estate whose value can decrease just as quickly as it increases depending on market conditions at any given timeframe. It’s best practice to protect yourself against potential losses via insurance policies that cover natural disasters, fires, or other unexpected events that could affect the value of your properties with costly damages if unattended too long.

Finding the Right Real Estate Investment Opportunity For You

Investing in real estate can be a lucrative and exciting opportunity for those looking to diversify their portfolio or generate passive income. However, finding the right investment opportunity can be challenging, particularly for those new to the market. With so many options available, from rental properties to commercial real estate, it’s important to do your research and determine which investment type aligns with your goals and risk tolerance. Today, we’ll explore some key factors to consider when searching for the right real estate investment opportunity for you, including location, property type, and financing options. With these tips, you’ll be well-equipped to make an informed decision and start building your real estate portfolio.

Research Your Market

The first step in finding an ideal real estate investment is to do your research. Start by researching the local housing market in order to understand what types of investments are available in your area. Also, familiarize yourself with current market conditions such as median home values, foreclosure rates, and any developments or trends affecting these markets.

Set Goals & Objectives

Once you have identified potential opportunities, set specific goals and objectives for what you hope to accomplish with your real estate investment. This could include things like a target return on investment (ROI) or rental income goal. Knowing what your goals are will help you properly evaluate each opportunity in terms of how it meets or falls short of those targets.

Analyze Location & Property Conditions

When evaluating different properties, it’s important to analyze factors such as the location and condition of the property itself. If buying a house or condo, is it close to amenities or transportation? What is its condition inside and out? Does it need repairs? Will it require significant renovations prior to occupancy? All these factors can affect both purchase price and ROI potential so be sure to weigh them carefully when selecting a property.

Compare Financing Options

Another important factor is financing options for the property you choose. Does the property qualify for a traditional mortgage loan or do you need to use more creative financing methods such as seller-financing or hard money loans? Do some comparison shopping between different lenders so that you can get the best rate and terms available from one of them.

Review Legal Documents & Disclosures

Finally, make sure that all of the legal documents associated with your investment are reviewed thoroughly before making a commitment. These may include forms such as title insurance policies, building inspection reports, deed restrictions, development agreements etc., which should all be carefully read and understood before signing on anything. Additionally, if possible obtain an independent review from an attorney or other professional prior to moving forward with any purchase agreement related to your desired real estate investment opportunity.

Finding the right real estate investment opportunity requires due diligence and research; however following these tips can help ensure that whatever new venture you undertake will lead to success!

Leveraging Real Estate as an Investment Opportunity

Real estate investing has long been a popular way for investors to diversify their portfolios, increase their income streams and grow their wealth. Investing in real estate provides stability because the need for housing isn’t likely to go away anytime soon. However, there are certain risks associated with it as well. In order to leverage real estate as an effective investment opportunity, it’s important to be aware of all factors that can contribute to success or failure.

When selecting a property, consider whether you will rent out the property or live in it yourself first. This decision should be based on factors such as your goals, budget, and timeline. For example, if you plan on living in the property full-time, you may want to purchase a home closer to desired amenities and requires less renovation work than one intended to be used as a rental property.

One of the most important things to consider when investing in real estate is location. The value of properties near desirable areas usually appreciates quicker than others. Also, if you are looking for tenants for a rental property, proximity to public transportation and other amenities increases your chances of finding quality tenants more quickly.

In addition to location, another key factor when investing in real estate is properly evaluating the condition of the property before making an offer. It’s always recommended that buyers have an inspector evaluate any potential investments they’re considering before signing any contracts or making any commitments. Doing so helps identify any potential problems or repairs that may need to be made prior to finalizing the sale and can help avoid costly surprises down the road.

When investing in residential properties, buyers must also take into account additional costs associated with ownership beyond just mortgage payments such as taxes and insurance premiums which can add up over time depending on where you live and what kind of coverage you require for your investment.  It’s also important to consider how much money might need to be put aside for regular maintenance tasks such as painting every few years or addressing plumbing issues among other common repairs needed with owning any residence regardless of whether it’s being rented out or lived in by its owners.

Overall it pays off if done properly but those looking at leveraging real estate investments should keep these essential points in mind: Location matters; get a proper inspection; factor in additional costs; and set aside funds for routine maintenance tasks so that they don’t take away from savings later down the line when unexpected expenses arise due to lack of planning on these items beforehand. With proper planning and research, anyone can leverage real estate investments successfully as part of their portfolio over time while reducing the risk associated with this type of venture without compromising returns on investments made along the way.

Foreclosure & The Property Market in the Philippines: 5 Essential Tips

Foreclosed properties can offer great value, but you need to move forward carefully before purchasing one. Sold at auction, these properties have been seized by the lender due to the borrower’s failure to pay, and you often don’t know exactly what you’re buying until the deal is done. Whether you’re an investor trying to make money or an individual trying to save money on a home in the Philippines, keep these tips in mind as you look for a foreclosed property. 

1. Get your financing ready

In the Philippines, foreclosed properties are sold at auction, and if you decide you want to buy, you need to be ready to act quickly. Make sure that you have your financing pre-approved with a solid chance of approval. Also, talk with your lender about your plans to buy a foreclosure — they can let you know if you need to set up any special financing. 

2. Have cash on hand. 

To win a competitive auction, you can’t just have a pre-approved loan. You will also need cash in hand to make a downpayment. If possible, you should have as much of the purchase price as possible in cash, but on the low end, you should aim to have 10 to 20% of the price in cash. 

3. Make sure you have extra reserves.

Winning an auction on a foreclosed property feels great, but it’s only the first step. You generally don’t get to look at the inside of the home before you bid, and if it’s in rough shape, you’ll need to spend a lot of money on cleaning and repairs. To make this possible, make sure that you have extra cash reserves. 

4. Don’t forget about fees and taxes

Buying, cleaning, and repairing the property aren’t your only costs. You will also need to pay some fees and taxes. Generally, when you buy a home in the Philippines, you will need to cover a notarial fee, registration fee, transfer tax, and documentary stamps tax. These fees can vary from area to area so make sure that you understand what they are in the area where the home is located. Additionally, if you purchase a condo or a townhouse, you may also need to pay homeowner’s association dues. 

5. Consider the location carefully. 

There are foreclosed properties all over Metro Manila and nearby cities such as Cavite, Bulacan, and Rizal, and of course, there are foreclosed properties in smaller towns throughout the country. When you select a property to bid on, make sure that you think carefully about its location. If you plan to live in foreclosure, you only need to consider your personal preferences, but if you’re investing in the property, you need to think about resale value. 

Consider the location as it currently is, but also think about the upcoming potential. For instance, properties usually rise in value when nearby infrastructure gets updated. Study infrastructure plans and timelines so that you can be a savvy buyer.  

6. Research comps and set a maximum bid

Bidding can get exciting, and if multiple people want the same property, the price can go up quickly before you realize it. To ensure that you don’t bid more than a home is worth, set a limit before you go to the auction. Research comparable properties in the area to estimate what your target property is worth. Then, use those numbers to guide you at the auction. 

7. Attend as many auctions as possible. 

The more auctions you attend, the better chance you have of landing a great foreclosure. Banks, SPAV companies, the Social Security System, and the National Housing Authority often post about auctions on their websites. Keep an eye on these sources and make a point of going to a lot of auctions. Then, make smart bids and enjoy the thrill of getting ready to buy a foreclosed property. 

5 Wild Real-Life Home Appraiser Stories

There are a lot of people that seem to think that home appraisers have it easy. Their belief is that an appraiser simply walks into a home, looks at the foundation, wiring, and plumbing, then writes up a number for the home’s value and calls it a day. Also, at worst, people might believe that the house may be a little bit dirty, but nothing too crazy.

However, there have been a lot of wild stories to come from home appraisers that didn’t know what they were walking into. Some have been scared straight out of the profession while others have seen some of the most wholesome or hilarious stuff around. Here are five of the most wild real-life home appraiser stories out there.

The Tragedy Appraiser

There’s one appraiser in particular that’s had to figure out the value on a lot of properties that are famous for being crime scenes. Randall Bell is his name, and he’s appraised properties that include the Heaven’s Gate mansion, the real estate where the Manson family murders happened, and even the homes of the late JonBenet Ramsey and Nicole Brown Simpson.

Bell has had his hand in some of the most tragic properties known to mankind, and he says that it’s his attention deficit disorder that got him into the profession, saying that he would only take on properties that had significant damage or trauma that other appraisers couldn’t handle. In fact, the first notable house that he took on was the crime scene for the O.J. Simpson case.

Dahmer’s Den

Out of all of the cases that Bell has handled, though, the strangest one might be serial killer Jeffrey Dahmer’s home in Milwaukee. Bell was doing an appraisal on the home where he lived and murdered several people, but nearby Marquette University was upset with him. In most cases, a murder home would be cheaper, but Dahmer’s became more valuable as the school was trying to buy up nearby property.

Bell said that homes drop up to 25 percent in value if a serious crime had taken place, but Dahmer’s home leaped in price due to national interest in his story. The owner of the apartment complex made the school pay the increased evaluation.

A Record Robbery

When an appraiser is going in to a home to assess the value, there’s a good chance that nobody is living in that house at the moment. Or at the very least, they aren’t expecting much company to be there. That wasn’t the case for one appraiser in Florida, though, as they were evaluating the property for a wealthy music producer.

The appraiser said everything was going fine in the gorgeous neighborhood until they got to the basement where the platinum and gold records were kept. It turns out, some teenagers caught wind of who lived there and were trying to steal the records. Thankfully, the producer shooed the kids away without anyone being hurt, but it was still a wild experience for the appraiser.

Long Island Medium

Many of the world’s richest people tend to live in the same neighborhoods and run in the same circles, but that doesn’t mean that they have the same beliefs when it comes to extra-terrestrials. On New York’s Long Island, an appraiser named Leigh was looking at a multi-million dollar home, but noticed something very odd. All of the walls were lined with aluminum foil.

She asked the homeowner about the aluminum foil, and got a very calm, but odd, response. The owner said that it was simply to keep out alien rays that could be used to control thoughts. The appraiser simply left it at that and continued working.

Florida Gators

There are certain things that you expect to run into as an appraiser, with animals being one of the most common. For the most part, though, it’s simply dogs or cats that you’ll deal with. In Florida, you never know what you’re going to get, however.

That was the case for one appraiser that was evaluating a home and paying too much attention to the property itself without checking the surroundings. It turns out that appraiser was just one yard away from stepping on a 12 foot long alligator. It wasn’t until the gator started growling that the appraiser noticed and ran away, with the sales office neglecting to tell them that the gator had been there protecting her nest.

5 Questions To Ask Before You Get a Mortgage

There’s no larger expense that you’ll have in your life than the purchase of a home, which for some can cost seven figures. Not many of us are able to pay for a house in cash, and rely on mortgage to get the job done so we have a place to call home for the next few decades. With that in mind, you have to ask yourself a few questions before committing to a mortgage. These five questions need to be answered first and foremost before signing any paperwork.

1. What’s my interest rate?

The one thing that determines the housing market more than anything is the current interest rate. Before locking yourself into a mortgage, make sure that you’re getting the best interest possible. Of course, the rates are completely volatile and can change on a daily basis, so it’s best to strike at a rate that’s favorable like it was during the late 2000s and early 2020s.

You also have to understand the different types of mortgage interest rates. There are different rates depending on the type and length, with some being fixed rate mortgages while others are adjustable rates. Fixed rate mortgages are by far the most popular, with people locking into their prices for the length of the loan.

2. What type of mortgage do I need?

Interest rates differ by the type of mortgage that you get, and there are several options when shopping around for a loan. A fixed-rate mortgage is the most common, as it comes with a set monthly payment amount that appeals to people who will eventually make more money and can pay off their mortgage early. Then, there’s the adjustable-rate mortgage where there are lower payments at the beginning, which is also another good option for those that will make more as the years go on.

For those with great credit and want to buy an expensive home, conventional and jumbo mortgages are among the best options and typically handled through a broker. Finally, there are government loans through the VA and FHA that require low down payments and are given to those with low credit scores.

3. Is my debt too high?

You can have hundreds of thousands in debt, but if you’re making millions of dollars, then that massive amount of debt won’t matter one bit to mortgage lenders. Debt-to-income ratio (DTI) is one of the first things that lenders will look at, and the lower your DTI, the better your chances of getting a desirable mortgage approved.

There are two aspects to your DTI, with the front-end and back-end. The front end is the monthly payments that include your mortgage, taxes, insurance, and utilities. The back-end is for all of your other monthly expenses that aren’t related to the house, such as credit cards, groceries, gas, and student loans.

4. Can I afford monthly payments?

The other side of the DTI is the income itself. If you’re one of the many people that’s looking to move from an apartment and into a house because the mortgage payments are cheaper than rent, you have to consider your savings.

Rental agreements are typically 12 months and you aren’t obligated to make any major repairs as that onus falls on the landlord. When you own a house, though, you’re the one that pays for any repairs and has to replace appliances. Make sure you have enough money to afford these unexpected expenses before diving into a mortgage.

5. How long do I want to live here?

When you’re paying for something like a house, you know that you’re investing a lot of money, but you’ll also be investing a lot of time. Before you get into a mortgage, you want to make sure that you’re satisfied with the house that you’ll be calling a home. While you have the option to pay off a mortgage early, that’s not going to be a strong likelihood for a lot of people.

With that in mind, you want to make sure that you’re comfortable living in a new house for at least 10 years, with the average mortgage being 30 years. In some cases, mortgages can be as long as 50 years, so make sure that everything is absolutely perfect for you and your investment before taking out a five, six, or seven-figure loan.

5 Most Important Things Home Appraisers Look For

There are many reasons to get a home appraisal. Whether you’re looking to buy or sell your home, receive a loan from the bank, or even filing for divorce or bankruptcy, there will be a time when an appraiser comes out to take a look at your house. 

To make sure that you’re preparing your house to get the maximum amount appraised, here are the five key things that appraisers are looking for. Some, unfortunately, cannot be changed while others can be handled with some time and money.

5. Number of Rooms

You could have one of the largest houses in the world, but it won’t matter all that much if there aren’t many individual rooms. Homes that have more bathrooms and bedrooms are desirable for appraisers, especially if they’re full bathrooms.

Of course, most houses only have one kitchen, but adding a second one in a home that’s large enough to fit one will increase the value. Just remember that the more bedrooms, the better, but having more bathrooms is the best.

4. Size

One of the reasons that any of us are looking to move into a new place is to have more room. When it comes to appraisals, the size of a home plays a big role in the value. This includes the square footage and acreage, as a lot of space both inside and out are coveted by a lot of people.

It’s not just about the sheer amount of space in the house, too, but rather the amount of usable space. Having an unfinished basement that can’t be converted isn’t all that desirable and won’t increase the home’s value much. A garage that’s large enough to double as a barn, though? That’s an increase.

3. Age

It should probably go without saying that newer houses tend to be better for a home’s value (unless it’s a historic castle or something similar). It’s not the age of the house itself that appraisers are really looking for, though, but rather the age of some of the main components. A house that was built in 1910 can have a brand new foundation, roof, and HVAC units that bring its value up.

If those components are older, though, then they’re getting close to needing to be replaced. Some of these can cost tens of thousands at minimum to replace, too, hurting the overall home value. A brand new house will have brand new everything, increasing the appraisal.

2. Water Damage

You could have wallpaper tearing off and an incredibly dirty carpet, but appraisers likely won’t care about that one bit as they can be easily fixed in a matter of hours and not much money. However, if there is any sign of water damage on the inside or outside of the house, it can tank the appraisal value quickly.

Water damage is a much more costly and time-consuming fix, so appraisers suggest that anyone that may have damage get that issue taken care of before getting a valuation of their home. Pipes, ceilings, windows, you name it, if there’s water damage to any of those, they need to be taken care of right away.

1. Location

You’ve probably heard the old adage “location, location, location,” and there’s a good reason for that. Above anything else, the value of your home is tied to the surrounding area. Homes that receive a higher appraisal will be in areas where there are other houses that are spread further apart and feature low crime rates and great school options in the area.

If there are a lot of tall buildings and apartment complexes in the area, the home’s price will drop. Appraisers also give a bump to homes that aren’t near any major busy roads as the area will be much quieter and family-friendly. If there are bodies of water nearby like lakes or an ocean, you can count on the home’s value skyrocketing, as well. There’s a combination of accessibility and family neighborhood appeal that appraisers consider when coming up with a final number.