Increasing the appraisal value of your home can help you sell it for top dollar. The appraised value may not be in line with what you actually paid for the home because the appraiser’s job is to determine what the house would be worth based on the market as it stands today.
You can make certain changes to maximize the appraisal value of your home, which can be helpful whether you are selling or trying to refinance.
- Declutter and Make Minor Repairs
Even making small changes like reorganizing, patching walls, and doing touch-up painting can significantly increase the appraised value of your home. Buyers rarely want to see messy rooms or even storage areas and often prefer to have customized storage solutions. Because an appraiser is looking through a buyer’s eyes to value the home, thinking like a customer is crucial to increasing the appraised value of the property.
- Increase the Curb Appeal
The appraisal process begins even as the appraiser is driving up to your home. That means that the outside of your home should be free of debris, and you should make any exterior repairs that are necessary, even if they may just be cosmetic. Making sure that your yard is in order can also be helpful to increase the value of your home as well. Investing in landscaping services may be an option that pays off for you.
- Ensure That the Appraiser Knows the Area
If you have the option of choosing your own appraiser, it is a good idea to enlist the services of a local professional. Appraisers that know the area will be able to adjust your home value based on the neighborhood. When the appraiser has an intimate knowledge of the schools, crime rates, distance to certain amenities, and more intangible factors, the appraisal is more likely to be accurate.
- Renovate Where There is the Most Value
It is a familiar maxim that bathrooms and kitchens sell houses. If you are planning on doing any renovations, it is important to use your money where it will have the most value for resale. Kitchens and bathrooms usually have the best return on investment regarding appraisal value. Of course, you cannot upgrade these areas and ignore the remaining portions of the home, either.
- Document Your Upgrades
You may want to point out to the appraiser the changes or renovations that you have made to the home since you have lived there. Keep spreadsheets of how much projects have cost you and before and after photos, if possible. Improvements that are harder to see, such as upgrades to the heating system or air-conditioning, are particularly important to point out.
The Matus Law Group can help you take steps, whether they are large or small, to maximize the appraisal value of your home before you put it on the market. Call 732-281-0060 for more information.