Not a set dollar figure or percent of sale price….
The questions you ask are probably what differentiates appraisers from Realtors. The “adjustments” are based on the market that the subject property is in. How much is a 4th bedroom worth over a 3 bedroom house?That depends on the market area but then don’t forget about sq. footage. I seldom adjust for differences in bedrooms but usually adjust for differences in size. Some think to do both would be “double dipping”. To answer your question, look for similar properties with only 1 different item (if possible). Say you want to know the value of a inground pool. Look for sales that have a pool and compare them to similar houses without a pool. You will find there is no correct answer, only a range. The value that is used should be in that range. I have neighborhoods where the pool is worth nothing to others where the pool is worth 50-75% of their cost. If you want further examples, try to find a basic appraisal book and look under “Matched Paired Sales Analysis”.
Call us today at 480-595-0188 or visit us at www.SunPointAppraisals.com