However, don’t assume that a newer home translates to a higher home value. Age of the home: The age of the home is another factor that will be considered by the home appraiser.New landscaping or a finished basement can also add value to a property. Certain renovations serve to increase a home’s value more than others, such as a remodelled kitchen or bathroom. Renovations and upgrades: Any renovations, upgrades, or improvements will also be factored into the appraised value. In addition, whether the current market is a seller’s market or a buyer’s market will also be taken into account. That is why regular home appraisals are necessary, as the value of homes is constantly fluctuating according to the market.
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