Photo: Joseph Hilliard / See more of this home here.
Many home appraisers, even those with years of experience, aren’t familiar with log home construction and may not know how to fairly estimate a log home’s resale value. If you find yourself in need of an appraisal, either to refinance an existing log home or to qualify for a construction loan, you’ll find helpful information in “How to Appraise Log Homes.” This free, 13-page booklet, written by log home construction expert Jim Cooper, is designed to help appraisers and lenders accurately determine the value of log and timber homes by familiarizing them with the distinguishing characteristics of these custom wood homes, including styles, construction, cost variables, market trends and points of comparison with other types of housing.
As the booklet notes, since log home buyers represent a unique market segment, they often desire qualities not sought by conventional-home buyers. Many of the features that are standard appointments in log homes would be considered expensive upgrades in conventional housing: cathedral ceilings, hardwood floors, solid-wood custom cabinetry, exposed-beam ceilings, oversized masonry fireplaces, tongue-and-groove wall and ceiling coverings, stained trimwork and wraparound porches. Appraisers need to understand that.
In addition, “How to Appraise Log Homes
” serves as a good overview for anyone who’d like a quick tutorial on the finer points of log construction. You can access this free booklet by visiting the Log and Timber Homes Council’s website (loghomes.org/library)
. Read it online or download it as a PDF to deliver to your appraiser and lender.