If you’re looking to sell a home or refinance your mortgage, the home in question will need an appraisal. If you’re in the market for a home appraisal, we’re sharing some tips on how to help your home appraise for a higher amount. There’s short-term and long-term updates you could consider, depending on when you were looking to sell or refinance.
Pick Up and Paint: If it sounds too easy, you’d be surprised. Removing clutter from inside and outside your home will make it appear organized and clean. A fresh coat of paint can make a space look modern and remove years of age from the home. Plus, a fresh paint job can hide any marks from pets, children, furniture, etc. If there’s one thing you can do before your appraisal, it’s make sure things are picked up and freshly painted.
Outdoor View: Curb appeal matters. When your home is being appraised, try to freshen up landscaping and lawncare. If you have a fence that needs a fresh coat of paint or any parts fixed, do that. Additionally, painting the front door and trim can make a dated house look newer. Mulch and plants can be inexpensive ways to make a great first impression.
Carpets and Flooring: Replacing carpets and flooring can be expensive. If there isn’t time to get the carpet replaced or flooring installed, consider focusing on areas that are damaged or stained. Having a professional come in and clean the floors before the appraisal would be a small investment that could make a huge difference.
Update Kitchen and Bathroom Fixtures: The kitchen and bathroom are always hot spots. If you’re not doing full renovations, at least consider replacing things like laminate countertops, wallpaper and light fixtures. A fresh coat of paint and the right light fixtures can add a good amount of value to your home without much work or money spent.
Renovations and Additions
Amenities: Some features on homes make it appraise much higher. These are things like garages, extra space or additions, patios and the use of high-end materials such as stone or marble. If you’re looking to increase the value of the home exponentially, these would be a consideration.
Renovations: If you’re gutting the kitchen or bathrooms and completely changing the space, keep track of it. These home improvements can be costly but if done correctly, your appraiser should see these as a great investment and add to the value of the appraisal. Since appraisers will look at things like the materials used, renovations should only be done with the intent on adding value to the home for the homebuyers, not a way to put yourself in debt and not get additional value.
An appraisal doesn’t have to be scary. There are enough things to add value to your home without spending a lot of money. Small investments can make a big impact.