12 Tips on Adding Value to Your Home
Today, let’s talk about home appraisals, and things you could do to possibly add value to your home.
The home appraisal determines how much you’ll get for your home. You could ask for any price you want, but if your buyers need financing, it all depends on the appraised value. While you can’t control the market value (how much other homes sell for), you can maximize your home’s value with these helpful tips.
Increase your Home’s Curb Appeal
Your home’s curb appeal is the first thing appraisers see. It develops their opinion of your home and may increase your home’s value.
To increase your home’s curb appeal, do typical maintenance tasks, including cutting the lawn, planting, and caring for flowers/bushes, and clean the windows. You may also need to do some maintenance, such as fixing damaged siding or missing shingles. Most homes can use a fresh coat of exterior paint, too.
Deep Clean and Declutter your Home
Even though cleaning a home doesn’t affect its value directly, it helps appraisers have a better view of your home and its worth. Get rid of anything that’s in the way and take the time to clean even the nooks and crannies that get overlooked during your normal cleaning.
Make Necessary Repairs
If there is anything obviously wrong with your home, fix it. This includes things like:
Patching holes in drywall
Fixing hand railings
Replacing/repair damaged flooring
Fixing leaking faucets
Repairing damaged walls or ceilings from water damage
Look beyond eye level and make sure all areas of your home look well maintained and kept up.
Provide a List of all Upgrades
You never know which upgrades will affect your home’s value, so provide the appraiser with an all-inclusive list of all upgrades you’ve made.
Include small things like a new dishwasher or minor bathroom upgrades, to the large renovations, such as adding a room, remodeling the kitchen, or replacing all floors. Provide the appraiser with receipts or contracts to prove the work.
Update your Kitchen or Bathrooms
If your kitchen or bathrooms are outdated, focus your efforts there. You don’t have to do major renovations. Even small changes can affect your home’s value.
Replace old wallpaper, update old faucets, install new lighting, or add a fresh coat of paint. In the kitchen, consider painting your cabinets, updating the lighting, and changing the hardware on your cabinets.
Provide Comparable Sales
If you know of homes that sold recently for a higher price in the area, share the information with the appraiser. If they don’t have the most updated information or you know of a home that sold rather recently that may not be on the appraiser’s radar, share the information to get the most for your home.
Final Thoughts
Your appraisal is based on the recent sales prices of homes in the area — but that doesn’t mean you can’t increase it with some effort.
The cleaner, more updated, and accessible your home is, the better picture the appraiser can get of your home. Provide the appraiser with as much detail as you can about the home, the changes you’ve made, or anything you know about the area, too.