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She’s smiling because she bought in 2018. A home appraisal is a standard step in the mortgage approval process. If you’re buying a home or refinancing your current one, your lender likely will require a professional appraisal to ensure your loan amount and the home value are aligned and that you’re not paying way too much for what you’re getting. Typically, the appraisal is paid for by the buyer, who can expect to shell out anywhere from $250 to $500 to assess a single-family home. However, sellers often use appraisals to determine how much to list their homes for. A professional can be your best bet here too, as knowing your property’s true value can be well worth a few hundred bucks. But if you’re just curious how much your home is worth—especially after a couple of years in this bonkers market— you can make an educated guess based on a little bit of internet research. What to include in your DIY appraisal First, you’ll need the stats : the size of your property or lot, the square footage of your house, the year it was built, and the number of bedrooms and bathrooms. In general, newer and larger homes are worth more. You’ll also want to note the following: Location: Is your home in a neighborhood with lots of amenities? Is it walkable? How is the school district? What are crime rates like? Are you close to town or in a more suburban or rural area? Layout: In […]