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Avatar for Marketplace Housing
Marketplace Housing
4.3(
11
)
Appraisal - Real Estate

Serving Springfield, TN and surrounding areas

In business since 2003

Free estimates

Emergency services offered

"Office staff is always available for help. No job is too small or too big. They are responsive to our needs for service requests from roofing to foundations. All aspects of home repairs have been done professionally and in a timely manner. I would recommend Marketplace Homes for all your property management needs regarding property repairs and maintenance."
Recommended by77%of homeowners
Avatar for Fisher Appraisals
Fisher Appraisals
3.9(
16
)
Appraisal - Real Estate

Serving Springfield, TN and surrounding areas

In business since 2003

"Bobby Fisher Appraisals was excellent and top notch! Bobby was extremely knowledgeable, fair and concise in his report! His expertise and experience shows in his work. Thank you Bobby for being available and answering all my questions at any time! I would and will continue to recommend your services,"
Response time1 day
Recommended by64%of homeowners
Avatar for Music City Home Inspection
Music City Home Inspection
5.0(
3
)
Appraisal - Real Estate

Serving Springfield, TN and surrounding areas

In business since 2015

Free estimates

Credit card accepted

Music City Home Inspection gives you a specified time to hire your own home inspector to check the property out, and protects you from buying a home with serious, previously unknown problems. Your offer should be contingent on the results so that if there are major issues you can walk away from the transaction. If the home inspector only finds minor problems, you also have the option to require the seller to fix them or drop the price.

Recommended by100%of homeowners
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Property Appraiser questions, answered by experts

Yes, installing a tennis court can be a worthwhile home improvement project that adds value to your property. The potential increase in value can range from $20,000 to $150,000, and in some cases, the return on investment can cover more than 60% of the installation cost. However, the impact on value heavily depends on the size of your property. For homes with multiple acres, a tennis court is often a valuable amenity. In contrast, for homes on smaller lots, installing a court can decrease the property's value because it consumes a significant portion of the usable yard space. It's crucial to consider your property size and the remaining usable yard before proceeding.

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.

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.

While some aspects of an appraisal, such as comparable properties nearby, are out of your control, there are several steps you can take to potentially increase your home's value. Make any necessary repairs and upgrades before the appraiser's visit, as they can only value what is currently part of the home, not its potential. Examples include renovating older areas, updating landscaping to boost curb appeal, and staging your home. You can also provide the appraiser with the cost of recent upgrades, which may increase your home's value by about 50% or more of what you paid for those improvements.

The cost ranges from $300 to $500, depending on the property's size and location. Due to their complexity, commercial appraisals may cost more.

The Springfield, TN homeowners’ guide to property appraisals

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