A home appraisal comes serving one of the most important roles in real estate terminology. This process involves the procedure of computing the value of a particular property. The property appraisal process makes sure that the home buyer is not paying more than the attained value. This valuation is also pertinent for the mortgage lenders or sellers, who need to come upon a certain number while making a sale.

If you are willing to apply for refinancing, property appraisal carries eminence in the process of buying and selling. This blog is a descriptive layout of understanding the requirements and what an appraiser looks for when visiting.

Property Appraisal’s Checklist and Requirements

Property Appraisals’ Checklist

Any home appraiser in Canada will ensure the property’s condition. Apart from jotting down the size and function of the property, the amenities, home improvements and other factors like proximity and accessibility would also be inclusive.

  • The Main Items on The List Include

Beyond the limits of the Property

    • The local market condition: This includes the properties sold in the area, irrespective of the real estate market.
    • The property’s location: The property’s location can be categorised into Rural, Urban and Suburban areas.
    • The Zone of the plot needs to be cross-checked with the local laws and regulations. The location of the plot has to be assured and checked with the same.
    • The proximity to power plants, landfills, and other necessary amenities like shops, airports, hospitals, and schools should also be checked.
    • The sensitivity of the location in terms of natural hazards. It is also important to ensure that the property doesn’t lie in any flood zone.
    • The status of the properties, alleyways and streets that surrounds the property.

Outside the Property

    • The parking space, offsets and driveways need to be checked before evaluating the property land.
    • The size of the property and the year it was built in.
    • The maintenance of the landscaping chunk, the green patches and other areas.
    • The condition of the property as compared to other neighbouring properties.
    • The windows, exterior walls, and the property’s foundation.
    • The condition and the sustainability of the roof, downspouts and gutters.
    • The Sewerage of the property v/s the condition of the septic tank.
    • The condition of the HVAC unit (Heating, Ventilation, Air Conditioning)
    • The condition of the garage and the number of cars it can stand.
    • Checking for any water damages or pests.
    • Checking for the outdoor amenities like a patio, porch, fire pit or swimming pool.
    • Any outdoor energy-efficient improvements or amendments made in a particular property. A subtle check for solar panels is also done on the property.
    • Any separate dwelling unit like a separate guest house on the premises of a property.
    • The type of utility provided can include water, electricity and gas. Their connectivity to a service provider also matters.

Inside The Property

    • The inside fireplaces always add value to the interior prospect of any property. The number of rooms, bathrooms and bedrooms also affect the overall property valuation.
    • The type of appliances used in the property is also included while laying out the property valuation and any house appraisal in Canada.
    • Any type of renovations or home improvements made in the property also adds up to the property’s value.
    • The entire planning of the property includes the gross building area, floor plans, and the property’s layout.
    • The materials used on the floors, ceilings, walls and trim are counted in. The condition of the materials is also noted and is responsible for the valuation made.
    • The scale of decor that the house is has been embraced with also contributes to the valuation of a property. The valuation of the interior is also determined by the age of the decor being used.
    • The valuation of the property also depends on the scale of moulding any damages done by water or pest infestations.
    • The basement and the attic condition also add up to the property valuation. Any house appraisal in Canada is dependent on this factor as well. The inclusive of a sand pump in the basement also matters.

Factors That Lead To The Increment of The Property Appraisal Value

Increment of the Property Appraisal

By a general thumb rule, any amenity or figurative structural item that adds to the value of any property would increase the value of your home. This would, in turn, add value to the property appraisal value.

Many pointers add up to the property appraisal value. The appraisers would also be giving points for home improvements and other materials that add value to the property. These factors might include energy-efficient appliances, outdoor amenities, and recent renovations. The materials included also lay effect on the property appraisal value. The typology of the flooring, countertops, ceiling and other interior elements also matters. For example, Hardwood flooring or granite countertops are a step away from the laminate options.

However, cleanliness won’t be a factor while addressing the property appraisal value. But, it’s never a bad idea to de-clutter and organises the space in your property. The better the house would look on the outside, the better access the appraiser would have while checking the details.

Factors That Decrease The Property Appraisal Value

Property Appraisal

On the other hand, a few factors modulate the property appraisal value. These factors can either be stagnant or bear some improvements down the line. The appraiser has the absolute right to deduct points if the property doesn’t lie in apt conditions or is not maintained. Any structural flaws or damages in the foundation, walls, or roof are subjected to be addressed. Apart from this, the property’s value will come down if the appliances or the decor are a bit dated or there are signs of pest infestations and water damage.

Similarly, the older homes are valued lower than the newly-built ones. The old ones require much more maintenance and costs to record.

Whatever happens outside the property is not in our control. These situations or conditions might increase or decrease the property appraised value. For example, any home can be valued for lesser numbers in a declining market that lacks amenities and accessibility or is within the radius of a FEMA flood zone. On the other hand, any property with better access to amenities, including schools, hospitals, eating outlets, etc., can be appraised at a better price.


The role of a home appraiser is to determine the value of a certain property. The value of any property can be variable and depends on multiple factors. These factors come down to the condition of the property and the inclination of the real estate market. These multi-fold pointers determine the value of any property and are later denoted by the home appraiser.

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Frequently Asked Question (FAQs)

What might lead to the failure of a home appraisal?

Any home improvements made or the home's condition in general since the last date of the purchase made. Other than this, the compared number of bedrooms and bathrooms, including amenities like decks, garages, swimming pools, landscaping and fireplaces to the neighbourhood, would affect the price of a property.

What is the most important thing in a home appraisal?

The approval of a property’s value is determined by the sales of a recent or similar property. Apart from this, the current market trends also affect the same. The amenities in the home, the appliances and the interior situation of the home also affect the value.

What do appraisers look like in a garage?

Property appraisers usually look for the garage's condition, function, and size and how well the entire space has been organized.

Does the carpet affect the appraisal?

The appraisal includes multiple facets of the property, and the condition of the components determine the value of the same. The details of the interior and exterior carry equal importance and should be taken into account in terms of maintenance and sustainability.

Do property appraisers take pictures?

To justify the values of a certain property, property appraisers take pictures of rooms in a house to describe the same details. A better understanding of the property can be retrieved via sharing of pictures.

Do appraisers come in the house for refinancing?

A full appraisal would require a home visit. Coming to refinancing appraisal, you can be a part of the same if you want to be. The appraiser would be conducting a complete inspection of the property to underline the condition of a property.