Five Areas That Could Hurt Your Appraisal

When you finally decide to put your home on the market, there is one thing that can make a huge difference, and that is the appraisal. This is one area of your home that can have positive or negative consequences to the price value. Knowing which areas to give more attention than others can can lead to an increased home's value.

 UNKEMPT EXTERIOR/INTERIOR

     Having a dirty home from the outside in can not only cause potential buyers to run for the hills, but also have the appraiser shave off a a decent amount to your home's worth. An unkempt yard with bushes and shrubs growing wildly can actually take three percentage points off your home. Curb appeal is the first thing potential buyers look at, so it is crucial to have them enticed from the start, because a good looking yard actually increases the value of your home. Another point is that if your neighbor's yards look really nice, and yours isn't so nice, this could cause your appraisal to drop even more than expected.

 TRENDY REMODELS

     Remodeling can add much value to your home especially if you are adding storage, room additions, etc. However if you do a complete remodel and believe the trust cost should reflect the true value, you will be left disappointed. The best remodel you can do is adding space to your kitchen.

 UNFINISHED REMODELING PROJECTS

     Do not have the appraiser inspect when your remodels are still in the process. If you are under a time constraint, then tell your appraiser about the remodel and what plans are expected to be done.

 FORGETTING TO LIST IMPROVEMENTS

     Don't expect all improvements to help your appraisal. For instance a new roof won't count because roofs are expected to be in good condition. Make a detailed list of all the improvements you've made and give it to the appraiser. Keep any documents or receipts showing your improvements and give those to the appraiser.

 NOT DOING YOUR HOMEWORK

     It is important to know your area well. You should know what your home is worth, and what others in the area have sold for recently. You may want to know the reason the house next door sold for less or more than yours. This way your won't completely feel ripped when the deed is done. A good place to start is with your real estate agent. They will know the area better than you, so ask them.

     Doing your homework can save you a lot of money when it comes to selling your house. It can also gain you lots of money too.

Post a Comment