12 Tips for Preparing for a Home Appraisal

How to Prepare for a Home Appraisal

The first step to preparing a home for an appraisal is consulting a real estate agent. A real estate agent will provide insights into how home appraisals work and suggest improvements that add value to your property. Here are some tips to prepare your home for an appraisal:    

1. Research the Local Market

Do your homework and thoroughly research the local real estate market. Look at the recent sales of comparable homes in your neighborhood to see what buyers are willing to pay for similar properties. This research will give you a realistic idea of your home’s value. 

This way, you can also identify what improvements you need to make to increase your appraisal value. 

2. Tackle Minor Repairs

Step out of your home and look at it with fresh eyes. Are there any small cosmetic issues that need fixing? These could be anything from peeling paint and leaky faucets to cracked tiles. These may seem like small issues to you, but if noted by the appraiser, they can negatively impact your appraisal. So, fix these small issues to enhance the appearance of your home and create a positive first impression for the appraiser.

3. Address Major Repairs

If left unaddressed, a faulty HVAC system, damaged roof, and outdated electrical systems can significantly decrease your home’s appraised value. These are all considered major repairs you need to complete before the appraisal process starts. 

Even though most of these fixes are expensive, you must invest in these repairs as they improve the overall condition of your home and its functionality. Plus, this will help you fetch a better value for your home in the appraisal. 

4. Make Strategic Renovations

It is important to understand that not all upgrades increase your home’s value. When you want to renovate your home, you must make strategic changes that guarantee a high return on investment. Ask your realtor to help you decide which fixes make the most difference in your home’s value. 

As a rule of thumb, focus on high-impact areas like the kitchen and bathrooms. A study by the National Association of Realtors reviewed the 150 variables that affect a home’s value and revealed that the kitchen and bathrooms contributed the most to a higher house value. This means that when buying a house, people care more about the kitchen and bathroom than other factors. 

There’s no point in changing everything about your home or spending ridiculous amounts on fixes that will go unnoticed. Instead, be strategic with your fixes and renovations to ensure they align with the local market’s requirements.

5. Clean and Declutter

You want to make a good first impression on the appraiser, and one of the best ways to do that is by cleaning and decluttering your home. Thoroughly clean every part of your house, including windows, floors, ceilings, and all the nooks and crannies.

During the appraisal process, it is best to remove personal items from the common areas and remove any excessive furniture that is overcrowding a space. This process makes the space appear larger and more inviting. A well-maintained and tidy home gives the impression that it is well-maintained, which is always a plus. 

6. Enhance Curb Appeal

What is the first thing an appraiser will see once they visit your home? The curb! The easiest way to make a good first impression is to have a beautiful home exterior. Mow the lawn, trim the bushes, and maintain the landscaping. 

You can add an extra touch by repainting your front door, placing fresh flowers throughout the house, and tidying all the driveways and walkways. A beautiful and clean exterior sets a positive tone for the appraisal. 

7. Ensure All Systems are Functional

Double-check before the appraisal and ensure all the house systems, including the HVAC, plumbing, and electrical systems, work well. Appraisers usually check these systems to evaluate their performance, which contributes greatly to your home’s value. 

8. Provide a List of Recent Improvements

List all the recent improvements you’ve made to the house. The list should include all major and minor fixes along with the date and costs of the repairs. This information will help the appraiser understand how these upgrades have contributed to the value of your home. 

9. Be Present During the Appraisal

Be present during the appraisal process to answer any questions the appraiser may have about your home. You can also add more information about the amenities or any recent updates you made to your home. 

Be present, but do not hover. Let the appraiser do their job, and don’t follow them around too much. Otherwise, they may think you are trying to hide something and that something is wrong with your house. 

10. Know Your Neighborhood

Your neighborhood is also a factor in your appraisal. If there have been any improvements since you moved in, you should mention them to the appraiser. These improvements could include a new school, a restaurant opening nearby, or a new community park.

Make a list of all the notable establishments within a 10-mile radius, such as new stores or universities, to show the appraiser. To enhance your home’s appeal, highlight the convenience of living near these establishments.

11. Highlight Energy-Efficient Features

Buyers have become much more conscious about energy efficiency and conservation these days. Therefore, if your home has any energy-efficient features, highlight them. These could include a smart thermostat, improved insulation, solar panels, or other energy-saving installations.

12. Check Safety Equipment

Be sure to check your safety equipment and ensure it is working properly. Your smoke alarms should have fresh batteries, and your carbon monoxide alarm and home security system should function well. Additionally, check the date on your fire extinguisher and ensure it is in perfect working condition.

Home Appraisal: Do’s and Don’ts

Do’s 

• Do Your Homework: Don’t let the appraiser surprise you. Do your homework and understand the local real estate market by researching comparable properties and sales. Also, have your documents ready, including past appraisal reports, tax reports, and recent home improvements.  
• Make Repairs and Upgrades: Fix all minor and major issues before the appraisal and record the fixes. Make strategic renovations and focus on high-impact areas like the kitchen and bathrooms.   
• Enhance Presentation: Ensure your home is tidy and clutter-free. Don’t forget to maintain the lawn and trim the bushes. This will help make a good first impression. 
• Be Present and Communicate: Be there to answer the appraiser’s questions. Offer them a list of improvements in the neighborhood and your home. 

Don’ts 

• Don’t Over-Improve: Be strategic with your improvements and renovations. Stick to fixing things that have a high impact on the value of your home.
• Don’t Conceal Information: Don’t forget to tell the appraiser about all the changes and upgrades you made to your home. Never overstate or give misleading information, as it can cause problems later. 
• Don’t Schedule Poorly: Schedule the appraisal after the renovations if you plan major upgrades. Your house should be at its best when you appraise it.

Make the Best of Your Home Appraisal

A successful home appraisal requires understanding the local market and implementing changes that can add value to your property. Preparing for a home appraisal involves meticulous research and strategic repairs. 

Take the time to address minor and major issues, enhance your home’s appearance, and offer detailed information to the appraiser. Doing so will help you achieve the highest possible appraisal. 

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