5 Tips for Increasing Your Appraisal
If you are selling your home, then you will want your home to appraise for the highest possible price. Here are five things you can do before you sell in order to increase your appraisal.
#1 Clean, Clean, Clean
If you’ve heard that appraisers are not to look at how clean your home is, you are right. However, appraisers are people, and people make snap judgments. If your home is dirty, they are more likely to see your home as older and less fit for sale.
So, although cleanliness is not supposed to be a factor, it can lead to a lower appraisal price. Be sure to clean your home thoroughly and get rid of clutter. One of the most important things you can do is to eliminate any odors. This is especially true of pet or cigarette odors.
#2 Repairs and Updates
Make sure your home is in good repair. It is a fact that homes in better repair have higher appraisals than homes that are not. When it comes to making the repairs, be sure that you:
- Get the proper permits before starting. Work done without the proper permits can lower the value of your home.
- Keep all paperwork showing any remodeling or updates
- Let the appraiser know of upgrades you’ve completed such as kitchen, bath, lighting, electrical, roof, and HVAC.
Improvements and repairs can help increase the value of your home.
#3 The Outside Counts, Too
Just as with the inside, making your exterior shine will also make a difference. However, in the case of the exterior, the Appraisal Institute states that a well-maintained yard should increase the value of the home.
Be sure to:
- Trim trees and shrubbery
- Touch up paint
- Add mulch
- Mow the lawn
- Power wash the siding
The more curb appeal your home has, the higher the appraisal will be.
#4 Do Your Research Before the Appraisal
Your appraiser will look at comps in your area to help arrive at the appraised value of your home. However, sometimes the comps used can be faulty. For instance, a home could have sold to an investor or be part of a divorce settlement selling for a lower than normal price. Since this is the case, it is beneficial for you to find comps that adequately reflect your home’s value, as well as explain why some comps should not be used.
Good appraisers are always happy to get this kind of information because it helps them determine the true market value of your home.
#5 Neighborhood Knowledge
An appraiser may not be aware of neighborhood amenities that can affect the price of your home. Be sure that you let them know about the neighborhood, including anything new coming to town. This can include such things as:
- Schools
- Stores and restaurants
- Museums and parks
- New roads and transportation
If you follow these five steps, you can increase the value of your home before your appraisal. For some people, this increase can be significant. Don’t take chances – follow these tips today.