Get matched with top property appraisers in Lake, MS

While a finished basement adds value to your home, it is assigned a different value than space on the main floors. An appraiser will assess the square footage of a finished basement at about 50% to 60% of the value of the square footage for the rest of your home. Appraisal value for a finished basement depends on your location’s real estate market and the specifics of the basement and how it was finished. 

The condition and appearance of your yard can affect your home appraisal value. A well-maintained, attractive yard with curb appeal adds to a property’s value, while an overgrown, messy, poorly maintained yard can hurt your home’s appraisal. Even small cosmetic improvements to your yard, like adding mulch, trimming trees, and cleaning out plant beds, can help your appraisal value.

In cases where an appraisal comes in lower than an offer price, sellers might opt to lower their asking price to meet the appraisal, especially if the market is slow, and replacing the offer with a higher one may take a long time. Sellers can also offer to make repairs to boost the appraised value, hire another appraiser to get a second opinion, or just move on to another offer that isn’t contingent on the buyer getting a mortgage or an appraisal inspection.

If installing board and batten fixes an issue with the home, it could increase the value, but it isn’t commonly installed for that purpose. Board and batten is an aesthetic choice and, like most aesthetic choices, will do little to raise your home’s value. That being said, certain design elements can help attract more buyers, even if your home’s price won’t see a noticeable bump.