Professional valuations for newly built homes and developments
Purchasing a newly constructed home requires special appraisal expertise. Unlike existing homes, new construction properties lack a history of prior sales and may have few comparable properties. Our specialized approach ensures accurate valuations that account for modern features, builder premiums, and current construction costs.
Whether you're buying directly from a builder, converting a construction loan to permanent financing, or need a final completion appraisal, Schumacher Appraisal provides the detailed analysis lenders require for new construction transactions throughout the Bay Area.
Buying a home from a builder or developer requires lender verification that the purchase price aligns with market value.
Converting your construction loan to permanent financing requires a final appraisal upon project completion.
Construction lenders often require appraisals at various completion stages to release funds for the next phase.
Builders and developers need valuations for presale purposes or to establish pricing for new developments.
Final appraisal verifying the completed home matches approved plans and justifies the final loan amount.
Custom-built homes on your own lot require specialized appraisal to account for unique features and specifications.
New construction requires specialized expertise and methodology
New developments may have few or no recent sales to use as comparables. We use similar new construction in the area, adjust for features, and apply cost approach methodology to establish value.
Builder prices often include premiums for new construction warranties, modern systems, and the convenience of buying new. We analyze whether these premiums are supported by the market.
During construction, we must evaluate partially completed work and determine "as complete" value while accounting for construction quality and adherence to plans.
Large developments require analysis of market absorption rates and competition from similar new construction to ensure realistic valuations.
Expert application of cost approach methodology, essential for new construction valuations with limited sales data.
Understanding of building methods, materials, and construction costs ensures accurate evaluation of new homes.
Ability to evaluate properties from architectural plans and specifications for pre-completion valuations.
30+ years of local experience tracking new construction trends and builder activity throughout the region.
Thorough understanding of construction loan and new home purchase appraisal requirements for all major lenders.
Thorough methodology for accurate new construction valuations
Review plans, specifications, and construction details to understand the scope of work.
Visit the property to assess construction progress, quality, and conformity to plans.
Analyze comparable new construction sales and current market conditions in the area.
Apply appropriate valuation methods to determine accurate market value.
Modern construction includes energy-efficient features and systems that add value. We document solar panels, high-efficiency HVAC, advanced insulation, and smart home technology that differentiate new homes from older properties.
New construction typically comes with builder warranties covering structural elements, systems, and workmanship. We consider these warranties in our analysis as they provide value and peace of mind to buyers.
For homes under construction, we estimate time to completion and account for potential changes in market conditions between appraisal and final completion.
Buyer-selected upgrades and customizations are evaluated for their contribution to value, recognizing that some custom features may not return full cost at resale.
Get expert valuation for your new home or development project