If you are planning to sell your home, Hiring a home appraiser can be advantageous to determine your home’s current market value. A current appraisal helps buyers to understand the value of your property and can bolster the asking price for your home..
What Do Home Appraisers Look For?
These are the things an appraiser will take note of in determining the value of your home;
- External features: These include the roof, gutters, foundations, the site, construction quality, and the of the structure.
- Internal features: They will look at the plumbing and electrical systems, major appliances — age and condition of the interiors, countertops, and floors.
- Upgrades: They will check any added features that aren’t personal like swimming pool, new roofing, or a remodel. They will also check for any renovation done and whether it complies with the regulations.
Here are tips on ways you can improve your appraisal and raise the value of your property.
How to Increase Your Home’s Value Before an Appraisal
1. Create Curb Appeal
Make your property look appealing. The exterior will be your first chance to make a good first impression. Ensure the landscaping is well maintained by planting and trimming flowers, add fresh mulch to the garden, and repainting the front door and walls. Repair walkways, seal driveways, fix any damaged fences, and put numbers on your mailbox.
Making sure the house looks impressive when the appraiser comes is essential. Learn from professional home stagers who prepare properties for buyers to see on how to impress.
2. Make Important Improvements
The kitchen and the bathroom are the other areas that can improve your property’s appraisal. These two will need cleaning and maybe minor remodeling and fixing. According to the 2018 report on Cost vs. Value, a minor kitchen remodel regains 81% of its cost with bathrooms delivering a 70% return on investments.
Be certain to mention to the appraiser any significant improvements you’ve made. You should highlight the important structural improvements to electrical systems, heating, and cooling system, which is hard to see. Giving your appraiser this information will help boost your home’s appraisal.
Note: Photos and receipts of the renovations are helpful to help the appraiser verify the work and hopefully increase the valuation.
3. See How Your Home Compares
You can visit recently sold homes and open houses near you to gain an understanding of the value of homes in your area. Your goal should be to make your home beat the nearby similar properties. Additionally, mentioning to the appraiser a few comparable properties will save him/her some work and will also go a long way in helping you get a higher appraisal.
Do your research, consult with your realtor, and have a plan to help ensure your home gets appraised for the amount you need to get the highest price on your home. Tackle the minor renovations that will yield you the highest ROI when you sell.