What Is the Difference Between a Home Appraisal and a Home Inspection?

Home appraisals and inspections are both important steps to take when buying or selling a home, but what is the difference? These two processes might sound the same, but they have different goals.

 

 

A home appraisal takes place before the seller puts the house up for sale. An appraiser will let the buyer know how much their home is worth, depending on a variety of factors. Usually, the seller will make some adjustments to the house before the appraisal to increase the value.

Home inspections take place before the buyer fills out the last bit of paperwork. The inspection is done with the buyer’s interests in mind, and the inspector will look for anything wrong with the house that could potentially lower its value.

Home appraisals are required by lenders in order to protect their investment. Inspections, on the other hand, are requested by the buyer, and they might not even request one. Housing markets are so competitive now that they might push the sale through just to get the home. Appraisers and inspectors look for a lot of the same things. We’ve explained the process of both below, starting with the one that comes first in the real estate process: the appraisal.

The Home Appraisal Process – What Do They Look For?

The owner of the house will have to schedule and pay for the home appraisal, and the results will be sent to the lender. You will need to ask for a copy because you won’t automatically be given one. This report will help you avoid problems during the inspection later on.

According to the appraisers at Home Appraising Group, home appraisers in NJ, the main factor that will be considered by a home appraisal expert is how your home compares to similar homes nearby that have sold in the past 90 days. These are known as comparable sales. Features that will be compared include the appearance, square footage, and amenities.

If your house has one more room than a similar house, that will raise the value, and if you have wallpaper instead of painted walls, that will lower the value. The more work the new owner will have to do after buying, the lower the value of your home.

What to Do with the Results

If you get a great appraisal that exceeds your expectations, then you’re in an ideal situation, and you probably can just go ahead with the sales process. However, if you receive a low appraisal, there are steps you can take to raise the value or dispute the appraisal.

By asking for a copy of the report, you will see exactly what lowered the value of your home. This report will give you a list of things you can improve about your home before moving on with the sale.

If you think the appraisal was wrongfully low, you can ask your real estate agent to look for different comparable homes that support your argument of a higher valuation. They might know more about your area than the appraiser does.

The Home Inspection Process – What Do They Look For?

Inspectors will do a more thorough search of your home. They’re looking for anything that could possibly be wrong on behalf of the buyer. Most of what they look for is behind the walls and under the floors.

They will check for things like plumbing issues, pest infestations, HVAC problems, faulty electrical wiring, and general damage. Unlike appraisers, they do not care about the appearance of your house. A lovely looking house can still have safety issues. Inspectors are looking for major problems that the seller should fix. Small issues can be left to the buyer.

If you want to get the home inspected before the buyer requests it, you can schedule your own inspection and fix any issues ahead of time. This will speed up the process when you’re closing the sale.

What to Do with the Results

The worst-case scenario is for the buyer to walk away after the inspection. This means the seller will have to put the home back on the market and explain why the previous buyers walked away. It’s almost guaranteed to affect the value of the home.

The next best scenario is that the buyer opens negotiations. If there are health and safety issues, the seller will have to pay to get them fixed. The value of the home won’t change, but repair costs will lower your overall return.

The seller can also refuse to make the repairs. If there are people lining up to buy the home, the most cost-effective option for the buyer could potentially be to move on to a different buyer. The people waiting in line might be happy enough to get the home after being denied initially that they will be willing to make the repairs themselves.

You’ll likely need to go through both processes when selling your house. Do some research into the most common problems during home appraisals and inspections. If you can fix those common issues, you’ll be less likely to have problems down the line.

Jennifer Bell is a freelance writer, blogger, dog-enthusiast and avid beachgoer operating out of Southern New Jersey

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The Benefits of Solid Wood Furniture You May Have Never Heard Of Before

Solid wood is one of the most versatile and strongest materials for furniture pieces!

Photos via: Houzz

You can’t even find a household area, which does not seem to fit the richness, finesse, comfort, and warmth provided by a piece of solid wood furniture. Whether it is a set of chairs, tables, shelves, cupboards, drawers, bed frames, or any other ornaments made of wood, the advantages of this material cannot be disregarded.

It even brings out a distinctive combination of structural integrity and aesthetic appeal that you can’t see in other materials. It forms a vital part of any nature-inspired interior design, transforming the look and mood of a room or the whole house. The material can also produce a welcoming and homely feel in any living area.

Wooden furniture is not a fad; it is a material used from one generation to another with a timeless quality that any other material cannot replicate. To give you more reasons to choose solid wood furniture items over other pieces made of different materials, here are some of its other unique advantages:

Solid Wood Displays More Character and Personality

Do you want your home to have more character and personality? Then choose furniture pieces made of solid wood. Over time, this wooden piece will make you feel like it is an old member of your family. It ages but in a good way, making it remain as a noticeable and solid component of your household.

Other materials, like lighter particle boards covered with veneer, might dent or chip in the long run. This might make them look unattractive eventually. This is not the case with solid wood. Yes, the material will also have bumps and experience wear but in most cases, this only adds character to the item. It will never turn into an eyesore so you will never have a reason to hid or conceal it.

Solid Wood can Transform a Space

One thing that makes solid wooden furniture amazing is its ability to transform any space or room. It is unique and tends to stand out on its own. It is even capable of adding a unique feel and vibe to any room you put it in.

Solid wood furniture has a unique elegance that cannot be copied by other materials, which is why many praise the Amish craftsmanship. Modern and cold interior designs can be enhanced even further with solid wood. It is because of the transformative nature of the material.

Solid Wood can be Altered

Another interesting and unique benefit of solid wooden furniture is that it is durable enough that it allows you to alter it over time. It is possible for you to stain, paint, or sand it. You are also allowed to modify the corners and edges of any piece of furniture made of solid wood. It even lets you transform an old piece into a brand new one. Completely refinishing the material is also possible.

The things that you can do for a piece of solid wood furniture are also deeper considering the recyclable nature of the material. It is because you can produce a new piece out of the old one. You can make it form part of a different structure. Note that wood will decompose eventually. It will turn into reclaimed wood. This should begin its other purpose of becoming a part of other pieces or projects.

Solid Wood is Environmentally Friendly

Solid wood furniture is also amazing because of its environmentally friendly structure. You can find pieces constructed out of recycled or reclaimed wood. What is great about such pieces is that their distressed and aged look make them quite dramatic. The good thing about pieces of furniture constructed from sustainably harvested wood is that they are helpful in protecting the environment and maintaining endangered wildlife.

You can contribute to saving the environment by buying a wooden piece that does not require frequent replacements. The fact that you do not have to replace the furniture too often means preventing unnecessary waste from accumulating in landfills. It is also good for your pocket since you will be spending less on furniture eventually.

Solid Wood is Easy to Maintain and Look After

Another advantage brought on by solid wood is the fact that it is easy to maintain and look after. Cleaning it is easy, too, as you just need to use a dry and soft cloth or a feather duster to get rid of the dust. Just make sure that the cloth or cleaning material is slightly damp to prevent dust from getting scattered into the air. For spills and other types of mess, you can clean them up with the help of a wet or slightly damp microfiber cloth.

You may also want to add a beeswax polish into the cloth to make the piece of furniture glow and shine, making it more beautiful. Make sure to treat the wooden piece well, though, so you do not have to worry too much about maintenance that goes beyond occasional dusting.

Solid Wood Offers a Variety

You will also love solid wood because of the wide range of tones and colors that you can choose from, allowing you to pick the specific look and style you prefer. It also allows you to choose from the various textures and grains showcased by different wood cuts and species. Aside from the actual material, you can also enjoy the available variety offered by different furniture makers.

You can choose from the various slants on design depending on the type of furniture item being constructed and your personal preference. The wide variety offered by wooden furniture means that there is little uniformity in this field. With that in mind, you have a high chance of getting a true one-of-a-kind and unique piece.

Conclusion

The many remarkable benefits that solid wood furniture has might cause it to have a higher price point initially. It is because you will be paying for the unique craft, durability, and the superiority of the material. However, these are also the things that make this material a truly valuable and wise investment. You will not be buying this piece for just one season. It will last for a lifetime, making it worthy to invest in.

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