4 Simple Ways to Improve Your Home Value
Whether you only want to improve your living space or increase your home value with the aim of getting a higher appraisal, carrying out a significant home improvement may be a daunting task. Your biggest challenge will be how to implement home improvements with a view of increasing the value of your property without having to go broke or commit to long-term building projects. I will discuss four valuable tips, which if you implement right away, will increase the value of your home and help to raise your home appraisal.
1. Put your money on improvements that pay off
Bathrooms and kitchens don’t just sell homes, remodeling these areas will add thousands of dollars to the value of your property, which is a great advantage if you are selling or refinancing. Of course, if you are scheduled to receive an appraiser in the next few days, there may not be much time for a complete bathroom or kitchen remodel. However, even minor renovations to these areas may help your property to appraise higher. For instance, you may fix new sinks, replace light fixtures and faucets. If there is enough time, be sure to update the areas with newer wooden floors appliances, a decorative backlash as well as brand new counter tops.
2. Create curb appeal
An appraiser is not going to spend a lot of time judging your property’s exterior; however, a good first impression adds quality. Cleaning up your flower beds and redoing mulch is cheap, low-effort ways to make the home more appealing. It is also one of the Ways to Increase Your Home Value Before an Appraisal.
3. The Power of Paint
Refresh paint and de-clutter. Painting your house is the fastest, easiest way to improve your chances of a higher appraisal, which may take many years off an old home. If your wall has crayon marks and the floor is full of clutter, a simple organization and a new layer of paint are all you need to make a good impression when the appraiser arrives.
4. Ensure everything in the house works
Your home may be spacious, full of modern features, but if even one switch is not functional on the day of appraisal, your property may appraise for less. Make sure you go through the home and see to it that every wall outlet, light switch, vent or fan is working correctly. Cracks in the wall and any other visible problems should be repaired before the appraiser comes.
A low appraisal is the last thing you want when planning to refinance a mortgage. Your lender may decide you do not have sufficient equity for a refinancing, at which time you may be forced to pay the difference out of your pocket so as to close the seal. The only way in which to prevent this situation is to present your property in the best possible light by implementing these types of advisories.