If you need a mortgage to buy a home, your lender will require a home appraisal—where a professional estimates the value of your place to make sure it’s at least enough to cover the mortgage. While the lender hires the appraiser, the buyer pays for it, which begs the question: What’s the cost of a home appraisal? While the cost of a home appraisal varies by the size and location of your home among other factors, generally you can expect to pay around $300 or $400, according to recent estimates. Here’s what you’re getting for your money.