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Property Appraiser questions, answered by experts

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. 

Ensure the property is clean, provide access to all areas, and supply relevant documents, such as recent upgrades or tax records.

While there’s technically no limit to the dollar amount you can borrow for a home addition, the standard limit is around 80% of the value the addition is expected to add to your home. That means you could feasibly borrow up to $80,000 if an appraiser determines that the addition or bump out will add $100,000 in value to your property. You might also be limited by your debt-to-income ratio or credit score.

Typically during transactions or refinancing, or whenever significant improvements are made.

Costs depend on the property size, audit complexity, and whether additional testing (e.g., blower door) is included.

The Andrews, NC homeowners’ guide to property appraisals

From average costs to expert advice, get all the answers you need to get your job done.