Are you selling or refinancing your home, and has the mortgage lender scheduled an appraisal to happen during the underwriting processes for your buyer? If so, it will help to follow these tips to ensure that the home is appraised at the right value.
Perform Repairs Around Your Home
It is always a good idea to do repairs around your home as you get ready to sell it. However, if you did not want to do it for a potential buyer, you'll likely want to take care of them for the appraisal. That is because having an appraiser walk into your home and see a variety of problems is going to cause them to value it lower than what it really is. Things that are simple cosmetic problems, like paint that is peeling off a wall, can easily be fixed on your own.
Improve Your Curb Appeal
An appraiser is going to form an initial impression of a home just like a buyer will, which is that first look at your home when you see it from the curb. Improving your home's curb appeal can go a long way in improving its appraised value. Having the garden beds in good condition, the grass cut, the hedges trimmed, and all the weeds pulled will make the home look great from the very start of the appraisal process.
Make Low-Cost Cosmetic Upgrades
There are a lot of simple cosmetic upgrades that you can make to give your home a better appearance, such as changing out the worn-down hardware on your kitchen cabinets or updating an outdated light fixture that is the focal point of a room. These small upgrades can go a long way when you look at the mall together when appraising the home.
Create A List Of Recent Renovations
It will help to create a list of recent renovations to your property so that your appraiser knows that you did them. All upgrades may not be obvious, such as replacing old galvanized pipes with copper or upgrading the electrical wiring. That will help these things be taken into consideration when appraising your home.
Show The Property As If You're Going To Sell
If you're refinancing your home, you should still treat the home as if you are going to sell it when it comes to decluttering and cleaning. You want your home to look as good as possible, and many people that are refinancing do not think to do this because there is not a buyer involved.