If you’re getting ready to sell your home or refinance your mortgage, the result of your home appraisal will greatly affect your life moving forward. A good appraisal vs a bad appraisal can make the difference of thousands of dollars.
The home appraisal process is not completely objective. Small things can make big differences. This includes things like cleanliness, recent repairs and updates, and even the mood of the appraiser.
The question is, how can you increase the home appraisal value? We’re here to help. Keep reading for everything you need to know.
Make Minor Repairs
All homes experience natural wear and tear. When we live in a home, some of us repair these issues as they present themselves. However, they’re often cast aside for future, more convenient times (which never happen).
These repairs, although minor, can add up. When a professional home inspector spots these damages, it can significantly devalue your home. To increase the home appraisal value, take care of all these small repairs.
These include things like damaged trim, damaged drywall, watermarks, water damage, stained carpets, negative drainage issues, cracked windows, broken fixtures/hardware, faded and peeling paint, etc.
Make Small Updates
One of the hardest things to do when trying to increase your home appraisal value is deciding what updates are worth the investment. For example, remodeling your entire kitchen will definitely increase your home’s value, but you won’t get a full return on your investment.
We recommend making necessary updates that could affect the sale of your home. This includes things like updating an out-dated electrical system or repairing a leaking roof.
If you have an unfinished basement, completing it could add a lot of value to your home. If you do most of the work yourself, it won’t be very expensive either.
Maximize Curb Appeal
Next, remember that when people are looking at homes for sale, they want to be drawn to them. This means perfecting your curb appeal to make potential buyers want to take a look at what’s inside.
The more attractive the outside of the home is, the more the property appraisal will increase. A comfortable and warm exterior presents a place to host backyard barbeques, birthday parties, and other social events. It also suggests that the home is well-cared for.
Wow the Appraiser
Though the cleanliness of your home doesn’t necessarily have an effect on its true value, wowing the appraiser will affect how they see it. If you take the time to make your home spotless, it will feel newer, nicer, and in better condition.
Polish the floors, wipe down the walls, clean out the appliances, steam clean the carpets, and stage your furniture in an appealing way. You may also need to remove clutter from your home to make it feel less lived-in.
Speak Up and Point Out
Finally, to increase the home appraisal value, point out major repairs and updates during the professional home inspection. The appraiser will have knowledge of the home’s previous evaluation.
For example, if your home appraised for $220,000 five years ago but you’ve since finished the basement, updated the electrical, and replaced the roof, they need to know about it. These factors alone will add thousands of dollars to your home’s value.
Speaking up and pointing out these updates is essential if you want them counted to your benefit.
Looking for More Tips on How to Increase Your Home Appraisal Value?
If you’re planning on selling your home or refinancing, learning how to increase the home appraisal value is imperative. Take the necessary steps to make sure you’re getting everything you can for your home.
And for more homeownership advice, check out some of our other articles while you’re here. Our blog is full of content to help homeowners like you make improvements, save money, and more.