Home Appraisal Costs, Uses, and What to Expect from the Process

Home appraisals are frequently used in real estate to determine property value for various purposes. Lenders require appraisals when you take out a mortgage or refinance a home. A home appraisal may also be necessary to settle an estate or price a home to sell. So, how much is a house appraisal if you need one? Although web estimates place the average cost of a single-family home appraisal somewhere between $300 and $500, these online figures tend to skew a bit low, according to real estate experts. “Almost anywhere in the country, the minimum amount necessary for a credible home appraisal is likely going to be somewhere between $450-$550,” shares Mike Ford, a Southern California-based general certified real estate appraiser since 1986. Angi pegs the average cost of a home appraisal at $359, but data from the National Association of Realtors®’ (NAR) Appraisal Survey suggests that it’s more like $500. Costs will vary based on what area of the country you live in, the type of home, its square footage, condition, and more. Let’s take a look at the main factors that impact the cost of a home appraisal as well as what to expect from the process. Get a Free Home Value Estimate Enter a fe...