Obtaining a high value on your home appraisal is a crucial step in selling the home itself. If you fail to obtain a high appraisal, any deal to sell your home is in danger of collapsing as a buyer will not be able to obtain financing. Below are some steps that you can take to ensure that your home is appraised at a high price.
Boost Curb Appeal
Home appraisers are human beings with human feelings. It is not unreasonable to expect that their opinion may be colored by the overall appearance of the home. There are little things that you can do to give your home an overall nicer look. These include power-washing the house and touching up the paint. Many different small cosmetic improvements can add up to a nicer-looking home. The external appearance can make the difference between an appraisal that is high enough versus one that sinks any potential sale.
Follow the “Under $500” Rule
Oftentimes, homeowners wonder whether they should spend the extra money to have something repaired in advance of the appraisal. Sometimes, it is not worth it to spend money that you may not otherwise have to before the appraisal. However, other times, a small investment can prevent an appraisal that reduces the value of your home by thousands of dollars. If you are wondering what to do, do any repair that costs less than $500 before your appraisal. This strikes the right balance between spending some but not too much money in order to maintain the appraisal value.
Resource: Home Appraisal for Mortgage Refinancing
It’s important to keep a record of any improvements you do decide to make. Take photos before and after the project is complete and keep any receipts so you can show the appraiser and homebuyer later. All of this helps specify exactly why the value of your home has increased.
Clean Your Home
Although this seems to be the most obvious step you can take, it does not occur to many people that clutter could impact their home appraisal. A messy appearance may cause an appraiser to take a closer look because smaller imperfections may indicate the presence of larger, more glaring imperfections. Or, the dirt and grime may be covering up some of the best aspects of your home. In addition, when the overall appearance of a home is clean and orderly, it may positively inform the appraiser’s opinion of your home. This is an easy step to take since it will likely not cost you anything.
Resource: Does the Cleanliness of Your Home Affect the Appraisal?
When getting your home appraised, you are not simply at the mercy of the home appraiser. Instead, there are various small steps that you can take to improve your home’s value that may not cost you too much to take.
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