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How Important Is Cosmetic Condition In A Baton Home Appraisal?
Greater Baton Rouge's Home Appraiser, Bill Cobb, shares Tom Horn's New Birmingham Alabama Appraisal Blog article, "How important is the cosmetic condition of a house in an appraisal? located at http://birminghamappraisalblog.com .
Tom covers important value characteristics, such as location, curb appeal and cosmetic improvements. Tom's experience in Birmingham AL, a similar Southern State, is not that different from what's taking place here in Baton Rouge.
The trend in Birmingham is similar to that in Baton Rouge, to cosmetically update homes and I see more sellers updating them prior to selling. New flooring, new paint, new cabinet hardware, sometime slab granite counters when they make sense in that market.
Regarding Cosmetic improvements Tom states and I quote below:
"Many factors are taken into consideration when reconciling this value including current supply and demand, desirability of the area, and condition of the property.
Cosmetic improvements effect the condition of the property so if a home has great curb appeal and has been painted then the upper end of the value range may be supported because potential buyers may be more willing to pay a little more for its good condition if everything else is equal.
Cosmetic improvements will never be given more consideration than substantial improvements like additional square footage or kitchen and bath remodels, but they do contribute to value in the way I just described.
I am finding in today's market that cosmetic improvements are very important because it has become the norm.
In an effort to compete and sell their home many homeowners are going all out to make their home as appealing as possible and this has made it a necessity for home sellers."