The home appraisal is your last chance to ensure your home’s value comes in as high as possible, which is especially important since most offers you’ll receive will be contingent on the buyer acquiring financing from a mortgage lender.
Basically, the higher your home appraisal is, the smoother the home selling transition will be. Taking the time to prepare your home for an assessment is your best chance of increasing your home appraisal value, and here are nine things you can do to prepare.
Enhance curb appeal when preparing for a home appraisal.
1) Begin with your home’s curb appeal
Curb appeal is your chance to make an excellent first impression on the home appraiser as well as potential buyers, so you’ll want to put your best foot forward.
There are many budget-friendly curb appeal ideas to jazz up your home’s exterior appearance, and it often takes less than a few hours to complete.
Some easy ideas to get you going are laying new mulch, planting fresh flowers, mowing your lawn, raking the leaves, trimming overgrown bushes, and clearing sidewalks and driveways to create a safe and clean appearance.
From there, you can move on to more extensive curb appeal projects, such as touching up the outside paint to make your home’s exterior features stand out. But, again, the goal is to convey to the appraiser that your home is well kept outside and inside.
2) Declutter your home
While appraisers will overlook the “lived-in look” of a home, decluttering can make their job more accessible since the appraiser will take pictures and measurements during the appraisal process.
Household items left in the way will detract from the appraiser’s ability to do their job. On the other hand, a bright and clean home appears more spacious and can help the appraiser get an accurate feel for the home’s condition.
Some of the critical areas that must be free of clutter are the bedroom, kitchen, and living room, as they are the most used.
The kitchen
Keep the sink clear of dishes and ensure they’re put away the day of your appraisal. You can also move seldom-used appliances off the countertops to give your kitchen the appearance of a larger space.
The living room
Keep surfaces clear of stacks of magazines, books, or newspapers. Paring down extra pillows and blankets can give your space a minimal and streamlined appearance.
The bedroom
Ensure clothing is off the floor and kept adequately in closets or drawers. Consider donating unworn or old clothing items to a local thrift store or shelter.
Clean your home when preparing for a home appraisal.
3) Clean your home thoroughly
Appraisers must follow strict regulations, but much of their job is subjective. Set aside time ahead of your appraisal to give your home a thorough deep cleaning.
A clean and tidy home speaks volumes about you as a homeowner and can help the appraiser see every feature in its best light.
Deodorize off-putting smells from the fridge, garbage, pets, or dirty laundry, and pay extra attention to areas that may not be a part of your regular cleaning routine, such as the baseboards or inside of cupboards.
If you want to go all out, consider hiring a cleaning service to tackle more significant cleaning projects like shampooing your carpets to remove caked-in stains or debris.
By deep cleaning your home, you’ll also have the opportunity to find and fix potential problems that the appraiser may notice.
4) Make minor repairs – the $500 rule
Do a walkthrough of your home and ensure that everything is in good working condition.
If there are minor problems, such as drippy faucets, squeaky doors, or scuffs on the walls, you can tackle these ahead of the appraisal to ensure none of these imperfections result in an under-appraised home.
Many appraisers follow the $500 rule, where they value property based on $500 increments. So even minor fixes can incrementally add value to your home’s overall appraisal.
Some quick and easy repairs you can make are:
- Securing any handrails on stairways, steps, or raised decks.
- Replacing burned-out bulbs.
- Ensuring smoke alarms are working correctly and batteries have been replaced.
- Addressing any roof stains or leaks and fixing plumbing issues.
5) Look at your garage, roof, foundation, and home systems
In addition, to curb appeal, a home appraiser will also review your home’s exterior to ensure its structurally sound. Signs of water damage, leaky or leaning chimney, or lose shingles are indications of underlying damage and will be taken into account during the appraisal process.
Also, check the foundation for signs of water intrusions or cracks in the foundation, ceiling, or walls.
These are all signs of foundation damage that should be dealt with. You’ll also want to ensure your roof has at least three years of economic life remaining since the quality of the top will play a key role in determining your home’s value.
Finally, ensure the garage door opener and any garage outlets are working and that all utilities, water, electricity, and HVAC systems are functioning correctly.
6) Make minor upgrades
You want to increase your chances of a high appraisal, and there are simple home improvements that can increase value.
However, keep in mind that you should prioritize items that need to be addressed rather than stress over “nice to have” components.
For example, replacing worn or dirty handles and hardware on drawers and doors can create a new look without a huge investment and is a great way to modernize your home.
A fresh coat of paint can also go a long way in giving your rooms a clean and fresh appearance.
When selecting different paint color options, opt for lifelong neutrals such as light gray, cream, or beige to give your home a modern update that is both modern and simple.
7) Have a list of your home improvements ready
Compile a list of home improvements you have done, such as adding a new kitchen, HVAC system, or finishing your basement.
Then provide this list to the appraiser with any supporting documentation – like receipts or invoices – to prove you made these upgrades.
That will help the appraiser see the extra value you have brought to the home, and it just may help them justify their final appraised value of the property.
8) Create a welcoming environment
While an appraiser’s job is to be as objective as possible, creating a welcoming environment is essential for making an excellent first impression.
Light and bright spaces are more inviting so bring in as much natural light as possible by opening up any blinds or curtains and make sure to keep the lights on throughout your home.
Add soft touches to the interior with pillows or blankets to add a look of comfort, and set your thermostat to a comfortable temperature.
Incorporating these simple tips as you prepare for a home appraisal will make the appraiser’s visit more pleasant.
9) Look at real estate comps in your area
Looking at real estate comps in your area – also known as comparables – will give you valuable insight into the appraisal price you might expect to get for your home.
For example, you’ll want to look at homes that have sold in the last 3 to 6 months and are approximately the same size and have the same number of bedrooms and bathrooms.
Comps will also give you a general idea of how your home stacks up against others in your area, allowing you to compare your home’s exterior and interior features, as well as its general condition to others in your neighborhood.
Getting familiar with the comps in your area will also put you in a better position to challenge an appraisal if it is too low.
The home appraiser will look at comparative data in your area to benchmark what homes like yours are selling.
The number of rooms, square footage, location, neighborhood, and other elements will all be a factor in determining your home’s value.
The appraiser will also make adjustments from one home to another according to each house’s characteristics compared to the property being appraised.
Critical takeaways for how to prepare for a home appraisal
Preparing for a home appraisal can be stress-free once you know what the home appraiser is seeking. However, it can do a lot before the assessment to make the process go smoothly, and you’ll want to take the extra time to ensure your home shows in the best light.
Ensure your home’s interior looks as good as the exterior and that all appliances and systems are in good working order.
Spend some time decluttering and sprucing up your house with minor repairs, and be sure to prepare a list of home improvements for your appraiser.
When all’s said and done, these factors work together to help increase your appraisal results while maximizing your home value.
It’s your turn to be a homeowner in New Jersey
If you are interested in acquiring your new home or selling the one you have, do not hesitate to contact our EXP Realty consultants. We guarantee quality attention and the best homes in the area, with personalized marketing strategies to achieve the most significant benefit.
You will not regret working with us because we seek your best interests. Our clients certify them.