The housing market is heating up, and many are chomping at the bit to make their next move. But, with home prices only creeping higher, most homeowners are going to want to maximize their appraisal value and get the best possible deal.
When a home appraiser seeks to evaluate the value of a home, they look at a variety of factors. Some people believe that appraisers don’t look at much more beyond recent sales data for the area. While they do base their valuation of a property in part on the market valuation of the area, it isn’t the sole deciding factor. An appraiser will assess the overall property condition, and while the homeowner doesn’t have control over the market value of their neighborhood, they do have control over the look and feel of their property.
Fix and Update any Maintenance Needs
One of the biggest areas that a homeowner has direct control over that can dramatically raise their home’s appraised value is in the overall maintenance of the home. If your home is damaged or simply hasn’t been well maintained, it will have a lower value than it might have if it had been well kept. A homeowner should focus on making their home appear as though it’s new. A fresh coat of paint, landscaping, new carpeting, and new fixtures if they look worn or broken can have a dramatic effect on potential buyers and a home’s appraised value.
Document the Upgrades and Added Features
Additionally, if your home has features which add value to it, then you should point those out to the appraiser. Something small, like replacing your dishwasher, re-painting, or updating your bathroom sink and vanity can add value to your home. If you are updating or renovating anything in your home, be sure to hire a reputable contractor and retrieve the correct permits. This will give a potential buyer confidence when making an offer.
Consider Adding These Features to Your Home
- Updated appliances
- Hardwood floors
- New fixtures and hardware
- New paint
- Better curb appeal
- New exterior features such as siding, roof, paint
If you do not have the time or funding to add value to the home yourself, then pointing out amenities in the area can also be helpful. For example, if the home is close to parks, swimming pools, new and highly rated schools for children, then these amenities may raise the value of the home by proxy in the eyes of the appraiser.
PJ Belle has proudly served the Virginia area for years. Her professional expertise can help you make the most out of your listing.