How to Prepare for a Home Appraisal: 9 Tips to Maximize Your Home’s Value

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. Taking the time to prepare your home for an appraisal is your best chance of increasing your home appraisal value, and here are nine things you can do to prepare:

  1. Begin with your home’s curb appeal- Curb appeal is your chance to make a good first impression on the home appraiser as well as potential buyers. Some easy ideas to get you started 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.
  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. A clean home appears more spacious and can help the appraiser get an accurate feel for the home’s condition.
  3. Clean your home thoroughly- Appraisers are required to 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 that speaks volumes about you as a homeowner and can help the appraiser see every feature in its best light.
  4. Make minor repairs (the $500 rule)- Do a walk-through 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 walls, you can tackle these ahead of the appraisal to ensure none of these imperfections result in an under-appraised home.
  5. Look at your garage, roof, foundation, and home systems- Signs of water damage, a cracked or leaning chimney, or loose shingles are indications of underlying damage and will be considered during the appraisal process. You’ll also want to ensure your roof has at least three years of economic life remaining. Make sure the garage door opener and any garage outlets are working, and that all utilities, water, electricity, and HVAC systems are functioning properly.
  6. Make small upgrades- Keep in mind that you should prioritize items that clearly need to be addressed rather than stress over “nice to have” components. Replacing worn or dirty handles and hardware on drawers and doors can create a new look without a huge investment. A fresh coat of paint can also go a long way as well.
  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.
  8. Create a welcoming environment- While an appraiser’s job is to be as objective as possible, creating a welcoming environment is important for making a good first impression. Light and bright spaces are more inviting so bring in as much natural light as possible and make sure to keep the lights on throughout your home.
  9. Look at real estate comps in your area- Look at real estate comps in your area to give you valuable insight into the appraisal price you might expect to get for your home. 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.

    *Courtesy of www.redfin.com

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.