Selling a home can be a roller coaster of emotions, especially when it comes to the appraisal process. Homebuyers and sellers alike are keenly aware of the importance of a successful appraisal, as it can make or break a deal. To help ensure your home appraises for the highest possible value, here are three tips every homeowner should consider.
1. Information is King
Appraisers typically spend only about 30 minutes or less inspecting the interior of a home. This brief visit is all they have to make a first impression, so it’s crucial to prepare thoroughly beforehand. One of the best ways to do this is by creating a comprehensive packet of information for the appraiser.
Your packet should include:
- A fact sheet with your home’s address, year built, square footage, number of bedrooms and bathrooms, and lot size.
- A list of recent sales in your area, highlighting any for-sale-by-owner homes or quick sales due to unique circumstances.
- A detailed list of improvements made to the home, including dates and contractor contact information.
While appraisers have access to sales data, providing specific information about your home can ensure they don’t miss anything that could positively influence your appraisal.
2. If It’s Broken, Fix It
The condition of your home significantly impacts its “effective age,” which appraisers use to determine value. Effective age reflects how well the home has been maintained rather than its actual age. Any visible wear and tear can increase this effective age, leading to a lower value.
Common issues to address include:
- Cracked windows
- Worn carpets
- Broken tiles
- Torn vinyl flooring
- Damaged fixtures
By fixing these problems, you can help ensure your home is assessed as being in better condition, which can positively affect its appraised value.
3. Give the Home a Quick Cleaning
While cleanliness itself doesn’t directly impact a home’s appraised value, it does contribute to the overall impression of how well the home has been maintained. A clean, well-presented home can give the illusion of better upkeep, which can subtly influence the appraiser’s perception.
Focus on:
- Tidying up landscaping
- Cleaning carpets
- Removing marks from walls
Remember, while some factors that impact home value are out of your control, taking these steps can streamline the appraisal process and potentially increase your home’s value. Preparing your home well can also attract more buyers and ultimately lead to a successful sale.