While some of these factors are out of your control, there are steps you can take so your home is more likely to be valued higher. In this blog post, we will explore the importance of home appraisals and provide a comprehensive home appraisal checklist to help you maximize the value of your home during this evaluation. 

Importance of Home Appraisals 

Getting a home appraisal offers benefits for both sellers and those looking to refinance. If you’re refinancing a mortgage, a better home appraisal will result in a potentially lower interest rate, lower monthly payment, and a shorter payoff term. If you’re a seller, it provides you with an accurate estimate of your home’s value, allowing you to set a competitive listing price. Furthermore, an accurate appraisal attracts potential buyers and increases your chances of securing a better deal. 

Preparing for a Home Appraisal 

Proper preparation is essential to ensure your home is presented in the best possible light during the appraisal process. Here are some tips to help you be ready: 

• Improve the Condition: Take the time to address any necessary repairs or maintenance tasks. Fix leaky faucets, replace broken light fixtures, and touch up paint where needed. A well-maintained home leaves a positive impression on the appraiser. 
• Enhance Curb Appeal: First impressions matter. Spruce up your home’s exterior by mowing the lawn, trimming bushes, and adding colorful flowers. A well-manicured front yard significantly impacts the overall appraisal value. 
• Clean and Declutter: Ensure your home is clean, decluttered, and properly staged. Remove personal items and excess furniture to create a more spacious, inviting atmosphere. 
• Document Upgrades and Renovations: Make a list of any recent home improvements, upgrades, or renovations. Provide documentation, including receipts and permits, to showcase the added value. 

Selling or Refinancing, Perpetual Title is Here to Help! 

A home appraisal is a crucial step in both the home selling process and refinancing a mortgage. By understanding the importance of home appraisals and properly preparing for them, you can maximize the value of your home. And be sure to use our checklist to prepare your home for appraisal. Remember, professional assistance from the experts at Perpetual Title is just a click or a call away. Contact us today to make the most out of your selling or refinancing experience. 

The post Maximizing Value: A Home Appraisal Checklist first appeared on Perpetual Title.

What is Property Appraisal and Why Should You Care?

A property appraisal is an independent opinion of a home’s market value at a given point in time. Your home’s value is based on several factors including location, size, condition, age, amenities, and prior sales prices. Due to the housing market’s ever-changing nature, the property values in your neighborhood may be much higher or lower than when you first bought the home. There are many changes that can occur to your home since you purchased it.

An appraisal is used by the Lender to see how much the property is worth because the home serves as collateral for the loan. Having the value of the property assists the Lender in deciding how much money to lend. From a buyer’s perspective, an appraisal can let you know if the amount being asked is an appropriate price.

5 Tips to Increase Home Appraisal Value

• Update Your Kitchen and Baths. You will get more return on your investment when renovating your kitchens and bath than any other improvement to your home.
• Improve Curb Appeal. Curb appeal can make or break a house. Buyers will notice damaged siding and overgrown lawns, so it’s best to correct such eye sores.
• Create the right atmosphere. Now that you’ve fixed the outside, it’s time to give the interior some TLC. Remove unnecessary clutter, use natural lighting, and refresh the paint to make your house feel more like a home.
• Fix small imperfections. This is the perfect time to work on that to-do list. Fixing the dripping faucet or upgrading an outdated kitchen will add more value to your home. Remember to document all the updates you’ve made along the way.
• Really sell your home. Do not be shy! Mention the newly built library, museums, shopping centers, and parks in the area. These will make your home even more desirable.

Key Takeaways

The housing market can be extremely intimating. Sellers should attempt to make their home look its best in order to look appealing on the housing market. Pulling weeds and touching up paint may seem small, but those changes can make a dramatic difference to your house.

We hope that this blog was informative and provided helpful home improvement tips, but if you still have questions, our team is here to help. Contact Perpetual Title for more information on the home appraisal process.

The post What Can You Do to Increase Home Appraisal Value? first appeared on Perpetual Title.