Tips for High Value Appraisals
In order to determine the market value of your home, it is essential to have a home appraiser around to have a look at it and assess its worth. If you are looking for a high value appraisal which sets a favourable current market value for your house, there are a number of things you can do to sway the balance in the favor of your home.
Clean up
It is essential to make sure your home appears neat and orderly, to create a good impression on the appraiser. Make sure every room is tidy and organized, and vacuum, dust, and scrub everything, to bring the house out in all its glory. Dust and dirt can create a negative impression, and make a house appear old and worn down.
Pay attention to curb appeal
The exterior of a house form the appraiser’s first impression, so make sure your home has sufficient curb appeal. Mow the grass, trim the hedges, and prune the plants and bushes, to give the garden a neat, manicured, and well-maintained look.
If you need to spend to update, be prudent
While you might be tempted to get a whole host of updates in order to increase the current market value of your house, do not go overboard and spend more than you can. There is no need to renovate the kitchen and the bathrooms – this could end up putting a huge dent in your wallet. Instead, consider doing small but effective things in order to spruce up your house – get the plumbing fixed, have the house (or a few select rooms) repainted, and get new light bulbs to change the look of your home for the better.
List your updates
If you get any upgrades done, make sure you highlight them and bring them to the notice of the appraiser. It is essential to let the appraiser know what was done, which company you hired for the job, and how much the update cost you. Maintain a list of all the professional work you get done, and present this list to the appraiser.
Difference between when your home was built and effective age
No matter how old a house might be in terms of when it was built, any upgrades and renovations done by the owners can alter the effective age of a house to a great degree, and this has a significant impact on the market value of a house.
Make your own list of notables
Make a list of the best features of your home, as well as the things you consider top selling points – e.g. a large garden, ample parking space, etc. Make sure you provide this list to the appraiser, to let him/her know what your home has to offer.
Provide your own comparables
Appraisers generally look for their own comparables, but providing a list of your own can’t hurt your cause – it could also come in handy in case the appraiser ends up looking at the wrong comparables. Keep your eyes peeled for homes that are selling in your area, and refer to the MLS listing. You can also try to get a sales sheet, if possible.
Keep the $500 rule in mind
Bear in mind the fact that homes are often appraised in $500 increments by appraisers. This means that any upgrades or repairs that are required will bring the value of your home down to a great extent, even if these maintenance jobs are not actually all that costly.
Eliminate annoyances
While the appraiser is not likely to bring down the worth of your simply because s/he encounters an annoyance, it is smart to eliminate and refrain from anything that might end up irritating him/her. Keep pets and small children out of the way, and make sure you yourself do not ask too many questions while the appraiser is doing his/her work. Simply provide answers to the appraiser’s queries, and reserve your questions for when s/he is done with the work at hand.
