Housing appraisals are a must for anyone looking to sell or refinance their home.
All too often a homeowner will complain about a low or “unfair” appraisal. While some grievances are valid, many are a result of poor planning and an overall lack of knowledge about the process.
As a homeowner you need to know how to get the best market value for your home.
Here is a list of what to do and what not to do, to ensure you get the highest real estate appraisal for your home.
1. Put a little TLC into your yard
While the inside of your house is obviously an important factor for an appraisal, so is the outside. Your front and back yards add to your home’s curb appeal, so make sure they are well maintained. If your yards are a little lack-luster, especially in comparison to your neighbours’, it may result in a less than desirable appraisal.
2. Don’t wait until the last minute to take care of repairs
Selling and buying a new home is a lot of work. Add in your day-to-day responsibilities, and time seems to vanish. Before you get lost in the daily grind, make a list of all the repairs that can affect your appraisal and take care of them right away. This way, you are ready in time for the evaluation and are stress free. Forgetting to take care of these repairs before the appraiser visits could reflect negatively on the evaluation.
3. Track all your updates and renovations
Upgrades like floors, the fireplace, central-air and even a security system can all raise the value of your home. But, if you don’t track all of your hard work, and the money you have spent, the appraiser may miss it. Write it all down as you go, including the cost, and give it to the appraiser so that they are considered when appraising your home.
4. Track the changes in your neighbourhood
While the upgrades to your home are important for a fair appraisal, so are the upgrades to your neighborhood. Just like the list you are compiling of your renovations, make a similar list of all the changes to your neighborhood since you have moved in. Have the roads recently been paved? Was there a new school or park built? These revitalizations can raise the market value of your home. Forgetting to mention them to your appraiser can result in a low appraisal.
No matter what you do – working with a green appraiser could negatively impact the valuation of your home. Do your research whether you are commissioning the appraiser yourself, or the evaluation is coming from a lender. A lack of experience can help with your appeal, and an appraiser with extensive experience can help your assessment.
If you have questions about a Real Estate appraisal, send us a message through our site here: https://www.ucspigeonroy.com/contact/