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AD Brown Appraisals
5.0(
11
)
Appraisal - Real Estate

Serving Afton, VA and surrounding areas

In business since 1995

Free estimates

Offers commercial services

Alan is the leader in providing our customers with the highest quality service in an honest, efficient, and professional way. Our pledge is to create successful relationships with our customers, employees and community by building trust, treating every project with the utmost integrity and exceeding expectations. We look forward to working with you!\n

1 neighbors recently requested a quote
Recommended by88%of homeowners
Avatar for Choice Home Warranty
Choice Home Warranty
4.0(
5,678
)
Appraisal - Real Estate

Serving Afton, VA and surrounding areas

In business since 2008

Emergency services offered

Credit card accepted

"This Warranty company is the best. I have properties and I used several warranties companies in the Pass. Choice never, I repeat never try to play the blaming game or find the littlest excuse not to do the job. Three words: They are excellent’"
Recommended by81%of homeowners
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. 

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.

The cost to appraise a home depends on the type. Common types include:

  • Single-family homes: $300–$400

  • FHA or VA single-family homes: $400–$500

  • Condominium: $300–$500

  • Multi-family home: $500–$1,000

  • Apartment building: $1,500–$3,000

  • Commercial properties: $1,400–$10,000

  • Raw land: $1,000–$8,000

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.

Whether a scullery is worth it depends on how much you like to cook and entertain. If you frequently host gatherings—a scullery is likely worth the money. If you’re looking for ROI, it’s not so clear. It may not add significant value to your home, as it doesn’t increase square footage and may repurpose space that a buyer would have preferred to remain as-is (like a laundry room). 

The Afton, VA homeowners’ guide to property appraisals

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