Increase Your Chance Of A Higher Home Appraisal With These Easy Fixes
Posted by Garman Group on
Home appraisals are done for a variety of reasons: getting approved for a mortgage or insurance on your home, planning for your retirement, preparing to put your home up for sale, or, out of pure curiosity, to see how you fit into the housing market.
You’ll likely want to aim for a high home appraisal, especially if you're thinking of selling. So there are a few fairly easy, inexpensive fixes around your home that you can do to improve your chances of receiving one.
Do The Repairs Your Home Needs
If your home needs a new roof, don’t try to pawn that job off on the next owner of your home. It’s very likely you'll receive a larger return for your investment when selling if you go ahead and get the roof done. Your home appraisal will reflect that. The same goes for any other repairs on plumbing, electrical and anything else in disrepair. Keep your receipts so you can show your appraiser the work you've recently done on your home.
Do Some Updates
Homes with updated rooms, especially kitchens and bathrooms, almost always receive a higher appraisal value. Replacing fixtures, cupboards, lighting, windows and applying a fresh coat of paint shows your home has been taken care of and will not need any major renovations in the future. This gives you a huge advantage in the housing market.
Boost That Curb Appeal
Curb appeal is so important to the value of your home that we did a whole separate blog post on it a few months ago (make sure to read that here!). The outside of your home is what is seen first by appraisers and buyers, and we all know how important it is to make a good first impression. Spend a bit of time on your garden and fixing up your doors, windows and fences to get your home looking in tip-top shape.
Stage Your Home
Be A Spy
Take a look at MLS reports and see what other homes in your area are going for and how your home compares to others in your housing market. Maybe other homes of the same size which have appraised at a higher amount have hardwood floors or stainless steel appliances. You just may consider putting these into your own home.
Once you have seen what the other homes have to offer, you can make your home stand out from the rest of the comparable homes in your housing market.