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Avatar for Akrivis Real Estate Valuations
Akrivis Real Estate Valuations
4.4(
63
)
Appraisal - Real Estate

Serving Rio Communities, NM and surrounding areas

Approved (Corporate)

In business since 2018

Credit card accepted

Offers commercial services

"The work was performed extremely capably and produced an evaluation that should stand me in good stead as I appeal an excessive property tax revaluation. Akrivis provided me with an accurate, well documented report and took only seven days to do it. I am very pleased."
Restaurant
Response time5 hrs
Response rate89%
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Real Estate Agents questions, answered by experts

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.

Yes, a garage apartment is generally considered a valuable asset as long as the new structure has been legally built. It's important to weigh the cost to build a garage with an apartment against the cost to convert a garage to living space if you already have a garage.

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. 

Ranch-style homes are typically larger and more rectangular than most bungalows' small, square footprints. The floor plans for these two home styles are often different, too, with ranch home bedrooms placed along a hallway off the central living space and bungalows having their bedrooms directly off the main area without hallways.

Foundation cracks won’t always affect your appraised value. All foundations crack due to normal settlement, so hairline cracks that aren’t leaking or uneven from side to side are unlikely to have an impact on your appraisal. Structural cracks, on the other hand, often lead to a reduced appraised value, especially if the underlying problem will cause the issue to worsen over time.

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