It doesn’t matter whether you are getting ready to sell your home or refinance your existing mortgage; if you are working with a lender, they will likely require an estimate of the fair market value of your property. That means they will request an appraisal to find out how much your home is currently worth to help determine the loan amount you may qualify for.
In an era when small improvements can have a huge impact on the value of your property, it’s more important than ever to do what you can to maintain your home.
Get Ready For Repairs
Small problems (like broken faucets, damaged floors, or surface cracks on the ceiling) can lower your home’s perceived value by thousands of dollars. Go through every room in your home, and write down all of the problems that could lower the value of your property. If you can manage to repair them within your budget, you should consider doing so.
Do Some Spring Cleaning
The condition of your dwelling, yard, and garage are considered to come up with a home appraisal value. Clean all of the surfaces in your home (including your windows, counters, walls, hardwood floors, and carpets) regularly, and get rid of any clutter that will obstruct views of your rooms.
Focus On Curb Appeal
Don’t forget about the rest of your property! An appraiser will take your home’s curb appeal into account when they estimate its fair market value. Make sure that you take care of any repairs that you need to make to your home, fence, and yard before the appraisal.
Consider Comps
Your appraiser will look at the value of the surrounding properties to make sure that your estimate is comparable to the rest of the homes in your neighborhood. To stay informed, you could do the same. You can go to some of the open houses in your area or look at homes in your area that were recently sold. If you can make your house look more appealing than the rest of the homes in your neighborhood, it may raise your home’s value.
