A lot rides on the appraised value of a home for both real estate buyers and sellers. Getting an appraisal to match the market value of the home is difficult, especially in this real estate market.
The high demand for homes and low inventory caused the market value of homes to skyrocket. The appraised value of the comes in below the contract price about 20% of the time.
Sellers then have to renegotiate the contract to get the sales price closer to the home appraisal value. As a seller, you’d lose money on the deal.
How can you prevent that from happening? Invest in the right things that will increase the home appraisal value. Read on to learn what they are.
1. Stage Your Home
You stage your home for buyers. You need to do the same for appraisers. Appraisers look at structural issues around the home, but they also make assumptions based on first impressions.
If they drive up to the home and see weeds and overgrown grass, they’ll assume that the home isn’t well maintained. They’re likely to look for issues to support that assumption.
Prepare your home by cleaning the yard and cleaning up the interior of the home. Check your home and make minor repairs.
The amount of clutter makes a difference, too. Get rid of as much clutter as you can because it opens up the space in your home. It makes it look larger and could increase the home appraisal value.
2. Invest in Green Home Improvement
If you plan to take on major home improvement projects before putting the home on the market, invest in the right projects.
Environmentally friendly renovations and home upgrades make a big difference in the appraised value of the home.
Installing solar panels and energy-efficient appliances help improve the value of the home. Before you look for “solar providers near me,” take a look at the other benefits of installing solar panels, such as energy tax credits.
3. Know How to Interact With Appraisers
A home appraiser is there to do their job. That’s hard to do if you and your real estate agent follow them around relentlessly.
Appraisers don’t want to have someone looking over their shoulder when they work. Welcome them into your home, and have a conversation with them.
Tell them about the area, such as new stores opening up or revitalization efforts. Show them documentation about recent repairs. Receipts and before and after pictures are items to show the appraiser.
After the brief conversation, let them work. You’ll be fine knowing you prepared for the appraisal.
Increase the Home Appraisal Value of Your Home
Selling a home is stressful. You want to get the highest amount you can from the sale of your home. That’s possible in this market, but only if the appraiser agrees with the market value.
This article showed you a few ways you can increase the home appraisal value of your home. Put them to use and you’ll have a great appraisal experience.
For more sustainable home improvement tips, check out the other articles on this site.
