We all like to save a dollar or two when possible, and there are many times when paying for the more expensive product often seems to be a waste of money. Other times, however, paying a few extra bucks can really make the difference between a poor quality and great quality product. A home appraisal is one of those things.
The average cost of a home appraisal is between $300-400, which can seem steep. Many times when we inspect a property, the property owners asks us if we will be done with the report later that day, which would mean for a $350 appraisal, we are getting over $100 an hour. However, this is more often not the case. 
With increasing industry standards and requirements for every appraisal, each assignment requires a good deal of market research and analysis, then the inspection itself, and then more research and analysis once the property has been inspected and the report itself is written. Depending on the difficulty and complexity of the property, each report usually takes 4-6 hours to complete, not including the inspection.
"I have another appraiser who said he could do the same thing for $200," is something we have heard from clients from time to time. How can another appraiser go so far below the average price? Well, assuming he has to continue to make a living, a low price probably means that an appraiser is skimping on the research and analysis in order to do several appraisals a day. This can lead to serious gaps in the appraisal and oftentimes a skewed market value. We have been hired several times by clients who paid first for a cheap appraisal, then were so unhappy with the product that they ended up hiring us as well.
The bottom line is, with cheap appraisers, you get what you pay for! This is why we oftentimes tell our clients that we may not be the cheapest, but we are the best. Give us a call today if we can help you!
