When you’re selling or refinancing your mortgage, the appraisal is a pivotal step. A high appraised value can lead to a smoother transaction and potentially more money in your pocket. But how do you ensure your home appraises for its maximum value? This post provides you with practical tips on preparing your home for the appraisal.
1. Clean and Declutter
A clean, tidy home leaves a positive impression on the appraiser. While they won’t judge you on your housekeeping, a well-maintained property makes it easier to assess, observe updates and upgrades, and it demonstrates pride of ownership. Additionally, lenders may require excess personal items, such as yard junk, to be removed for the transaction. Here are some tips for cleaning and decluttering:
- Deep Clean: Thoroughly clean all areas of your home, including windows, floors, carpets, and bathrooms.
- Remove Clutter: Clear out excess items, organize closets, and tidy up common spaces.
- Minimize Personal Items: Reduce personal photographs and memorabilia to help the appraiser focus on the property’s features.
2. Take Care of Minor Repairs and Deferred Maintenance
Fixing minor issues can significantly impact your home’s appraisal value. Appraisers consider the overall condition of your property, so it’s essential to address small repairs. Additionally, lenders may require certain items to be repaired, requiring a re-inspection, and costing you more money. Common items in need of repair:
- Leaky Faucets: Repair any leaks to avoid negative impressions.
- Cracks and Holes: Patch up cracks in walls or ceilings and fill in nail holes.
- Chipped and Peeling Paint: Sand and repaint any chipped or peeling paint.
- Exposed Wiring: Ensure all electrical wiring is properly situated.
- Broken Fixtures: Ensure all light fixtures, switches, and outlets are functioning properly.
- Windows and Doors: Check for drafts and ensure smooth operation.
- Smoke and Carbon Monoxide Detectors: Check for the appropriate number of detectors and ensure operation.
3. Enhance The Curb Appeal
First impressions matter, and curb appeal can influence the appraiser’s overall perception of your property. To boost your home’s curb appeal:
- Maintain the Landscape: Mow the lawn, trim bushes, and remove weeds and dead plants.
- Clean the Exterior: Power-wash the exterior, clean the gutters, and remove any debris.
- Freshen Up Paint: If necessary, touch up paint on the exterior, shutters, and front door.
4. Highlight Home Improvements and Upgrades
If you’ve made significant upgrades or improvements to your home, be sure to showcase them. Create a list of recent updates, including:
- Kitchen and Bathroom Renovations: Highlight any upgrades to these critical areas.
- Energy-Efficient Features: If you’ve installed energy-efficient appliances, windows, insulation, or solar panels, make a note of them.
- Additional Amenities: Point out features like a finished basement, new deck, or upgraded HVAC systems.
5. Provide Easy Access to All Areas
The appraiser needs to access every part of your home, including the attic, basement, garage, sheds, and outdoor spaces. Ensure clear access to these areas:
- Unlock All Doors: Ensure all doors are unlocked or that keys are readily available.
- Clear Pathways: Remove obstacles and ensure the appraiser can easily move throughout the home.
- Prepare Pets: If you have pets, ensure they are secured during the appraisal to avoid distractions.
6. Gather Important Documents
To support the appraisal, have relevant documents on hand, such as:
- Property Survey: If you have a recent survey, provide it to the appraiser.
- Homeowners Association Information: If applicable, share details about HOA fees and rules.
- Receipts for Upgrades: Present receipts for significant home improvements to substantiate their value.
- Permits: Present your permits for any recent additions.
Conclusion
Preparing your home for a residential real estate appraisal doesn’t have to be overwhelming. By following these tips, you can help ensure a positive appraisal experience and maximize your home’s value. Remember, the key is to present your home in the best possible light, highlighting its strengths while addressing any minor issues. With careful preparation, you’re setting yourself up for appraisal success and a smooth transaction.