Follow These 4 Rules to Get a High Home Appraisal Value
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 that buyers will be more than happy to pay.
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, touching up the paint, planting flowers, trimming trees, and repairing the driveway pavement. 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.
Install Smart Features
Our tech-enabled world extends far beyond smartphones and computers. Modern homeowners are also looking for high-tech features in their houses. In order to compete in the current real estate market, it’s important to have updated technology installed in your home. Security systems work to protect against intruders as well as environmental threats from floods, smoke, and carbon monoxide. These sensors appeal to buyers by offering them greater peace of mind. They also provide the added benefit of potential homeowners insurance discounts.
In addition to security features, you can also install different home automation systems that improve the comfort, convenience, and efficiency of the home. These include programmable thermostats, smart locks and lights, and digital assistant compatibility. Many of these smart home features can be controlled remotely using a mobile device, which adds further convenience. Home security system packages are customizable, so you can find one that suits your goals and budget.
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.
Pro Tip: If you do decide to make renovations to the home, it’s important to keep a record of any improvements you 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.
Resource: Home Appraisal for Mortgage Refinancing
Clean and Organize 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.
Take steps to improve organizational systems and storage in your home. For example, you can use a lift system to store bikes and other items off the floor in your garage. Because garages are usually disorganized, this simple step can go a long way toward improving the storage space in your garage. Once you have organizational systems in place, you can go through your home and remove clutter and place everything in a designated spot.
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. These improvements can also make a significant difference when trying to appeal to buyers later on.
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