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Antiques and Jewelry Appraisals questions, answered by experts

Basement bedrooms can count toward your room count and the square footage of your home on an appraisal if they’re fully legal, which means they have proper ventilation and points of egress, as defined by your local building code. Simply partitioning off a space for a bedroom in an otherwise unfinished basement that isn’t a legal living space won’t affect your appraisal value.

While there's not a lot of definite research, some experts suggest that an in-ground or wall-mounted basketball hoop can add value to your home by increasing curb appeal. In addition, having a basketball hoop is an attractive feature of a house since it promotes physical activity, especially for children.

A property valuation, sometimes called a comparative market analysis or CMA, provides a real estate expert’s opinion on how much your property will sell for. It takes many things into consideration, like the condition and location of the home, but ultimately, all that matters for a property valuation is what a buyer might be willing to pay for the property. An appraisal is more concerned with determining the value. A valuation is to estimate what you’ll get for a property, while an appraisal helps a lender establish loan-to-value ratios and loan amounts.

As a seller, it might feel tempting to skip the appraisal, especially in a hot market that sees a lot of all-cash offers. While you can technically forgo it and hope for an all-cash offer, you’ll likely have a very tough time selling without an appraisal. 

In addition to protecting lenders from risk, appraisals also protect buyers’ investments. As such, it isn’t typically recommended for buyers to skip appraisals.

Your home insurance company may allow you to use an appraisal instead of an inspection when you apply for coverage. Keep in mind that despite this, an appraisal is far less detailed than the different types of home inspections available and may not reveal potential risks that you’ll want to know about.

The Battlefield, MO homeowners’ guide to antique and jewelry appraisals

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