Many sellers find that they believe their home is worth more than the appraisal states it’s worth. People can be emotionally connected to their homes, so it can be difficult if an appraisal comes in lower than expected. Fortunately, there are some things you can do to increase the appraisal amount. In addition to making sure you have all the important features and upgrades of your home ready for the appraiser, follow these five tips to improve your home appraisal.
1. Request that the lender sends a local appraiser. If your appraiser is unfamiliar with your area, there may be a chance the appraisal will come in at less than what the property is actually worth. If you can’t get a local appraiser, make sure you provide the appraiser detailed information about your neighborhood.
2. Only make renovations that add the most value. Kitchen and bathroom upgrades and finished basements will generally increase your appraisal. If you’ve renovated any part of your home, make sure you document the renovation and costs with before and after photos and a spreadsheet of the detailed costs. Be prepared to show receipts if necessary.
3. Clean up your yard. Having trimmed trees and shrubs, a well-maintained lawn, and flowers or flowerbeds can help improve the appraisal. Give your landscaping an update. Don’t neglect any part of your yard.
4. Repair or replace outdated or broken appliances and/or light fixtures. It may not be cost effective to purchase all new appliances. However, if there is any appliance or light fixture that is not working properly, it could affect your home’s value negatively.
5. Clean up clutter. Clutter is an eyesore, but it can also cost you money when getting an appraisal. Some experts claim a clean, clutter-free home can appraise for up to ten percent higher than a comparable home that is messy and full of clutter.
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