Top 4 Reasons to Hire a Residential Real Estate Appraiser

When buying or selling a home, knowing the true value of the property is crucial. Many people rely on online estimates or real estate agents’ opinions, but these can sometimes be inaccurate or biased. This is where a residential real estate appraiser comes in. Hiring a professional appraiser ensures you get an objective, well-researched valuation of your home. Here are the top four reasons why you might need to hire one.

1. Buying or Selling a Home

One of the most common reasons to hire a residential real estate appraiser is during a home purchase or sale. Whether you are the buyer or the seller, knowing the accurate market value of the property helps you make informed decisions.

• For buyers: An appraisal confirms that the price you are paying matches the home's actual worth. This protects you from overpaying.

• For sellers: An appraisal provides a realistic price range, helping you set a competitive listing price that attracts buyers without undervaluing your property.

  
  

For example, if you are buying a house in a rapidly changing neighborhood, an appraiser can assess recent sales and local market trends to give you a fair value.

2. Estate Planning and Settlement

When dealing with estate planning or settling an inheritance, it’s important to know the exact value of real estate assets.

• An appraiser’s report ensures the property is fairly valued for tax purposes or division among heirs.

• This helps avoid disputes and ensures legal compliance.

  
  

For instance, if a family inherits a home, an appraisal can establish a clear market value for estate tax filings or sale decisions.

3. Home Improvement and Insurance Purposes

If you plan to make significant improvements to your home, an appraisal before and after the work can show how much value the upgrades add.

• This helps you decide which renovations are worth the investment.

• It also assists in adjusting your homeowner’s insurance coverage to reflect the increased value.

  
  

For example, adding a new kitchen or finishing a basement might increase your home’s value, which an appraiser can quantify.

4. Property Tax Appeals

Sometimes, homeowners believe their property tax assessments are too high. If you think your property taxes are unfairly inflated, hiring an appraiser can help.

• The appraiser will provide a professional valuation that you can use to challenge the tax assessment.

• This can lead to a reduction in your property taxes, saving you money over time.

  
  

For example, if your neighbor’s similar home is assessed at a lower value, an appraiser’s report can support your appeal.

Knowing when to hire a residential real estate appraiser can save you money, protect your investment, and provide peace of mind. Whether you are buying, selling, refinancing, appealing taxes, managing an estate, or improving your home, a professional appraisal offers a clear, unbiased picture of your property’s worth. If you are facing any of these situations, consider reaching out to a qualified appraiser to get the accurate information you need.

At Smilon Appraisals, LLC we can give you the peace of mind with a data based value that you can rely on. Serving Northern New Jersey and the Southern Hudson Valley New York.