A & E Realty Company, Inc | West Boylston Real Estate, Worcester Real Estate, Holden Real Estate


When you find a home that you love, you probably already have been pre-approved by a bank for a certain amount that will enable you to buy a home. Once you put in an offer on the home and it’s accepted, however, you may need to take a step back. The appraisal can help you to know what the value of the home actually is. The bank may decline your loan based on the appraisal This is one of the most important steps to obtaining the financing that you need to purchase a home. 


What Is An Appraisal? 


In a nutshell, an appraisal protects the bank from investing in a property that’s worth less than what they’re paying for it. This process also protects you as a buyer from buying a property that’s worth less than what you’re expecting it to be worth. 


Although the appraisal makes sense financially, it doesn’t mean that the process won’t be emotional for you as a buyer and for the sellers as well. The appraisal can in fact make or break the purchase of what you consider as your dream home. There’s a lot of data that’s collected for the appraisal, which can cause nerves to be shot on both sides while the value of the home is being calculated.     


What’s The Difference Between The Inspection And The Appraisal?


A home appraisal is much different than an inspection. The home inspection is important in its own right. As a buyer, you hire a home inspector to find any potential problems or hazards that could be big issues for you in the future as a homeowner. While property appraisers will make note of glaring issues, they won’t check out the nuts and bolts of the home like a home inspector will. The home inspector checks out everything from the air quality to the chimney to the toilet and sinks. There’s many things that will affect your home appraisal. In other words, if you’re a seller, you want to get major issues fixed before you put your home on the market. Home inspections will be very important for different reasons to you as a buyer since it will be valuable to you in the future. Appraisers may request an inspection if they notice something serious within the home, but they are more interested in the value of the property than the direct problems that are within the home. 


Who Will Pay For The Appraisal?


Generally, the seller will pay for the home appraisal along with the closing costs. This can be a few hundred dollars. In certain circumstances the buyer may agree to pay for the appraisal, however.   


What Goes Into Calculating The Worth Of A House?


Appraisers look at many different factors including: 

  • The square footage of the property
  • The number of bedrooms
  • How many bathrooms the home has
  • The condition of the home
  • How much have comparable properties have sold for in the area
  • Safety issues
  • Other factors pertaining to health and safety            


The appraisal process can seem complicated, but once you’re educated on the matter, you’ll be prepared when it gets to that point in the home buying process.


This Single-Family in Worcester, MA recently sold for $280,000. This Colonial style home was sold by Office West Boylston - A & E Realty Company, Inc.


85 Saint Nicholas Ave., Worcester, MA 01606

Single-Family

$289,900
Price
$280,000
Sale Price

7
Rooms
4
Beds
2
Baths
Move-in condition 4 bedroom home with 1st floor master bedroom and bath, walks out to large two tiered deck. Enclosed front porch great for 3 season use. Large yard for outdoor activity. Full partially finished walkout basement with family room and full bath with in-law potential. Mostly hardwood flooring throughout. Convenient to highway, schools and shopping.

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So many great features that make up many clients’ dream homes can actually be a hindrance in selling a home down the road. While certain features in a home may be attractive to you, remember that all buyers are not looking for the same thing. Beware of the following perks and how they can affect your plans to sell a home in the future.


Schools Nearby


While having schools close in the neighborhood is a plus, not everyone sees it that way. A nearby school is fantastic if there are young children in the family, however, if a buyer doesn’t have young children, living near a school could be seen as a hinderance. Not only will there be an excess of foot traffic in the area, but there will be a lot of traffic, in general, each school day as buses and cars head to and from the school. The extra noise factor from the school may also turn off some buyers. 


Being In The Heart Of The City Or Town


Some people love to be in the heart of the action. A bustling neighborhood with tons of shops and restaurants and constant activity can be the life that you or someone you know is looking for. If you buy a home on one of these main stretches, but, it could be a hard sell should you decide to move. These property locations are targeting a specific kind of buyer and it could be hard to find them. Unless you live in a strictly urban area, you may want to think twice about the property location. Not only could it be a hard sell later, but you as an owner may get sick of the constant action very quickly. 


A Swimming Pool


If you live in a place where the weather is always warm and a pool is a requirement, then putting a pool in your home makes sense. In more variable temperature regions, a pool is not always the best idea. Pools require a lot of maintenance and can be a significant investment. Think of how much of the year a pool is actually usable in your area. The biggest issue with swimming pools is that while they are a luxury, they really don’t add value to the home. In some cases, a pool can end up detracting value and interest from a property. 


A Big Yard


While a large backyard can be attractive, not every homeowner wants to care for such a large amount of space. These large yards can take a significant investment of both time and money to maintain. A large yard attracts a certain type of buyer. Not that you can restructure property lines, but know that bigger isn't always better when it comes to a home’s outdoor space.      



This Single-Family in Worcester, MA recently sold for $102,000. This Cape style home was sold by Office West Boylston - A & E Realty Company, Inc.


37 Tyson Rd, Worcester, MA 01606

Single-Family

$119,000
Price
$102,000
Sale Price

4
Rooms
2
Beds
1
Baths
Opportunity knocks with this affordable 2 bedroom cape located on the Worcester/West Boylston line. Expansion potential with unfinished walk-up attic. The house is situated on a spacious 15,970 sq. ft. lot...adding to the possibilities. Vinyl replacement windows. Updates required throughout, but in this price range leaves plenty of room in the budget! Great condo or rental alternative or perfect for the handyperson, flipper, etc... this one won't break the budget. Close to I-190, shopping, restaurants and conveniences. Roof will need replacement/leaks around flashing at chimney. Roof condition may limit types of financing. **Potential development site for duplex**

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1051 Princeton Street, Holden, MA 01522

Single-Family

$600,000
Price

9
Rooms
3
Beds
2/1
Full/Half Baths
New construction custom quality colonial in a beautiful country setting, while only 3 miles from main street. BEST VALUE IN THIS PRICE RANGE!!!!! Featuring a two car garage, and an oversized (12'x16') composite deck. First floor has a great open concept floor plan with hardwoods through out, and a fireplace. Kitchen appointed with custom cabinetry, granite countertops. Second level has three large bedrooms with hardwood flooring, a laundry room, and two gorgeous full baths. The master bedroom features a spa like bathroom with an 8'x7' tile steam shower with two rain heads, a hand held faucet, and a large jet tub. Each of the second floor bathrooms has double sinks, granite countertops, and a private toilet area. Large shopping area and many restaurants within 5 miles. Ready to move in!!!!!
Open House
No scheduled Open Houses

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