Whether you're selling or refinancing, a lot rides on your home's professional appraisal. The appraiser's unbiased opinion will give buyers and lenders alike a clearer vision of your home's worth. A lower number hurts your chances of securing a loan or selling for a good price.
Many factors go into your home's appraisal, some of which you simply can't control like number of bedrooms or the neighborhood. Luckily, there are things you can do to boost your home's profile. Here are some tips for getting a high appraisal.
Look at Past Appraisals
If your home has been appraised in the past, take a look at those records. Pay close attention to the things that lowered your home's value and try to improve those issues first.
Cleanliness is next to godliness, and that goes for your home too. Scrub, dust, and wipe every corner of your home to create a spotless presentation. Renew your air fresheners or light a candle or two to emphasize a clean, crisp environment. You'd be surprised how something as simple as cleaning can influence your appraisal.
Take Care of Those Minor Repairs
If you've been putting off those pesky leaks or clogged gutters, now's the time to knock them out. Neglecting quick and inexpensive fixes will absolutely negatively affect your appraisal. Be sure to document any minor and major repairs as well, especially if you hire contractors to work on them.
Before the process even begins, your appraiser will start making mental notes about your home's exterior as they arrive. Make sure they're taking good notes by creating welcoming curb appeal. This can be done by maintaining the grass and any plants, presenting a clean walkway, touching up the paint if need be, and more.
Enter the Modern Age
Worn finishes and creaky, old appliances won't score you any points for being vintage. Instead, consider saying goodbye to these relics of the past and enhancing your home with more modern touches, like quartz countertops or stainless-steel appliances. Appraisers will place more value on these sorts of higher-end details. Of course, it's always worth talking to your agent about which upgrades make the most sense for your home.
With that said, however, it's important not to cater your home to one specific niche. Pricey upgrades may not make as much sense as they do on paper – you may not even recoup those expenses in the sale.
The ultimate takeaway is to ensure your home is well-kept. Even a home with outdated stylings could sell well if it's been maintained with care and consistency over the years.
If there are repairs you haven't completed by the appraisal, be honest with your appraiser. The desire to hide them may be strong – no one is proud to admit they haven't gotten that cracked foundation fixed yet – but it will only hurt you in the long run.
By telling your appraiser of any needed repairs, they can possibly factor the costs of said repairs into the appraisal. Otherwise, they may use a general figure, which could end up hurting your value. If you intend to have the repairs done yourself, the appraiser may need to return to confirm their completion.
Have more questions about getting a high appraisal? Contact a Watson agent today for more info!