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How To Prepare For Your Home Appraisal
Your home is likely your largest investment, and when it comes time to sell, both you, the buyer, and the buyer's lender will all want to know exactly what it's worth.
As a result, a home appraisal is an important part of a real estate transaction. You can have your home appraised in order to determine a good listing price; however, if your buyer is financing their purchase, their lender will require an appraisal as part of the process. In either scenario, it's in your best interest to do everything you can to earn the highest possible appraisal.
Our real estate agents often recommend putting in a little time, effort, and research ahead of your appraisal to help ensure the best possible outcome. Here are a few easy tips we usually share with our clients:
- Start With Some Local Research
One of the best ways to gather data points about your home's value is by checking out your neighbor's recent home sales. Do a quick search of recent home sales involving similar size homes within a 1-mile radius of your home. Browse some of the listing photos and see how the home compares to yours. If it's fairly close in terms of size, age, and location — the recent sale price can give you a frame of reference on your own home that you can share with your appraiser. Don't forget to mention any new local amenities such as schools, libraries, restaurants, or shops to your appraiser. - Do Your Own Walkthrough
If you've been turning a blind eye to minor issues around the home, now is the time to fix them! Put yourself in the shoes of an appraisal and do a walkthrough of your own home. Take note of anything that is outdated, broken, or needs repairs. Pay special attention to floors, doors, appliances, the attic, water in the basement, cracks in the foundation, or other problems. Remember, minor damage usually results in about a $500 deduction on your appraisal, so it can be cheaper to fix the issue upfront. - Point Out Your Upgrades
If you recently made any significant upgrades, such as a roof replacement, new flooring, or new appliances, be sure to point them out to your appraiser to ensure your investment is reflected in your home's value. - Clean, Clean, and Clean Some More
We're not talking about the usual Saturday morning tidy-up. Before your appraisal, you'll want to clean like you've never cleaned before. Make sure to go top to bottom in every room and clean floors, ceilings, walls, baseboards, surfaces, windows, appliances — you name it. Dirt and grime can really cast a bad impression on your appraiser and potential buyers. - Boost Your Curb Appeal
First impressions are everything, so you want to be sure to wow your appraiser as soon as they pull into your driveway. Tend to your landscaping, paint the front door, power wash your facade, plant new flowers, or add a new mailbox — these are all things you can do to improve how your home looks from the street. Just take a look at the great curb appeal on these Queens homes for sale.
Preparing for your home appraisal can really pay off. Planning to put your home on the market this year? We can help, contact us today!