Whether you are planning on selling your home, extending a line of credit, or removing your private mortgage insurance, you will most likely need to invest in a home appraisal. This involves hiring a home appraiser to conduct a professional assessment of your property to determine its true worth in the real estate market.
In order to do this, the appraiser will look at different factors such as the size, location, and condition of the real estate as well as the amenities and materials included. This is not to be confused with a home inspection which only involves assessing the condition of a property, whether it needs any fixing or repairing to improve its functionality.
In any case, when you arrange a home appraisal, you should try your best to update your property as much as possible to increase its worth.
If you want to find out how to increase the value of a home appraisal, here are five strategies you can rely on to impress appraisers and list your home for top dollar.
Improve your house’s curb appeal
One effective way of increasing your home appraisal value is to improve your property’s curb appeal. According to a study published in The Journal of Real Estate Finance and Economics, curb appeal can raise a real estate’s value by 7% or more. So, if you are looking to improve your ROI, consider upgrading your property’s exterior.
Some ways you can do so include tidying up the front yard, applying a fresh coat of paint on your home’s exterior walls, installing a new garage door, and sprucing up the front door and porch. When you are done, be sure to take professional photos to attract more buyers.
Invest in home improvement projects
Another way to increase the value of your home appraisal is to invest in a few home improvement projects. This can be anything from minor upgrades like repainting the interior walls to major renovations like kitchen or bathroom remodeling.
If you choose to do any of the latter, make sure you analyze your budget first. To do this, you should make a solid plan which will outline what upgrades you want to tackle and how much you are willing to spend on them.
Keep in mind that these renovations don’t have to cost an arm and a leg, but minor improvements can still help increase the value of your home appraisal.
Deep clean your home
Probably the easiest and quickest way to increase the value of your home appraisal is to deep-clean your house. Although this isn’t something home appraisers pay a lot of attention to when conducting their assessment, it can certainly make a big difference, especially if you are planning on selling your home.
So, it is advised to declutter your house and clean it thoroughly to make it more inviting to potential buyers. To do this, you should vacuum the floors, wash out any stains on the furniture and carpets, dust off the shelves and clean the windows.
Repair small imperfections
Being a homeowner comes with a lot of responsibilities, one of them being maintaining your property. This doesn’t only involve cleaning your house on a regular basis but also taking care of some house issues which need immediate repairs. This will help improve the functionality of your home as well as increase its value when you arrange a home appraisal.
For example, if you have a dripping faucet in the bathroom, sagging gutters, or broken hardware, make sure you fix these imperfections before an appraiser comes in. You want to avoid any negative marks on your report, which can certainly decrease your property’s value.
Make it a smart home
Another effective strategy you can try out to increase the value of your home appraisal is to make your home smart. This doesn’t need to involve investing in high-end technologies, but minor updates that will add a touch of modern tech and appeal to the property.
For example, if you have an HVAC system in your home, consider installing a smart thermostat to help you manage the temperature and humidity levels in the house using a smartphone or tablet.
Also, you should think about installing motion-sensitive flood lights outside to increase security and prevent break-ins.
No matter what the reason for your home appraisal is, you should explore different strategies to increase the value of your property to get top dollar for it. From deep cleaning your house to investing in home improvement projects, there are many ways you can improve your home’s worth and the home appraisal.
For more help, follow the tips from our post and instantly impress your appraisers.