Ready to put up your home for sale? Appraisals serve as an important assessment tool, providing a third-party estimate of what potential buyers are willing to pay. Before you fully dive into the home-selling process and welcome an appraiser through your front door, there’s one critical aspect that deserves close attention: your appraisal amount.
An underestimated or incorrect valuation could significantly impact your bottom line. Luckily, there are some steps you can take to prepare for an accurate valuation. Read on to learn about some specific items that could hurt your home’s evaluation, and how to avoid them.
What Does a Home Appraiser Look For?
In order to make a comprehensive assessment of a home’s worth, appraisers carefully examine multiple elements. First, your appraiser will gather some basic information, including the age, size, and location of your home, the quality of its construction and features, as well as the condition of any improvements. The number and value of similar homes recently sold in your area will also be taken into consideration. Finally, any upgrades or outstanding features can influence the appraisal, so make sure to mention any renovations to your appraiser.
A home appraisal can be an intimidating process, so it’s essential to understand the factors that could influence your home’s value. Being aware of the following factors is essential to preserving and maximizing the investments you have already put into your home.
Assess Your Home and Property Damages
Any damage to the home or to the property itself will have an impact on the final evaluation. When an appraiser visits your property, they’ll take photos of the interior and exterior, making note of any observable damages.
Prepare for the appraisal ahead of time by repairing interior items such as broken windows, damaged walls or flooring, as well as other wear and tear. On the exterior, be sure to have your lawn neat and green by mowing ahead of time, weeding, trimming trees or bushes, and removing dead plants or other eyesores. These factors will not only increase your property value, but they can also make a world of difference in how prospective buyers perceive your home.
Tips for Getting a Good Home Appraisal
Avoid Clutter At All Costs
Clutter can take many forms and is often at the heart of pricing discrepancies between buyers and sellers. Not only does clutter make it difficult for Dwela (and other homebuyers) to assess how much your property is worth, but it can actually lower the value if the appraiser has difficulty looking around the mess. According to experts, thorough cleaning, decluttering and de-personalizing your home before the visit can result in a significantly higher valuation, so make sure you’re prepping appropriately to get the most out of your sale.
Maintenance Preserves Value
Every homeowner knows that keeping your home in good condition is essential to preserving its value. Not only will maintenance protect your investment, but it will also affect how much a potential buyer is willing to pay for your property. From staying on top of any minor faults such as cracked windows and leaky roofs to scheduling regular pest and termite control visits, maintaining these core elements can increase the value and sale-ability of your property.
Be Mindful of the Repairs You Do Make
When making necessary repairs before the sale, be mindful of how they might affect your appraisal value. After all, you don’t want to spend on repairs unless they’re likely to significantly increase your appraisal value. An over-improvement can actually detract from a home’s value! If you have questions about what kind of repairs could result in the best return for your investment, get in touch with one of our experts and let us help you navigate this tricky path!
The Bottom Line
As a seller, you want to make sure your home is as highly valued as possible. It may seem like the amount of money offered by the buyer is the sole metric for how much your home is worth – but it isn’t. A professional opinion about the market value of your property plays the most important role in determining its ultimate worth. As we know, there are many factors that play into the appraiser’s evaluation of your home. Whether you use Dwela or another company, don’t forget that an experienced real estate appraiser can give you an objective assessment and that their expert opinion can make all the difference when deciding on a final asking price.
If you’re thinking of selling your home, contact Dwela first to discover its true value.