Maybe you’re looking at selling your home. Maybe you’re looking at refinancing it. Perhaps you’re actually looking for a home equity loan, or another type of loan altogether where your home is a primary collateral source. The truth is there are plenty of reasons a person might be concerned with determining the actual value of their home through an appraisal–but no matter what the reason for the appraisal, the fact is that you could probably stand to some sprucing up. As the experts at Consumer Solution say, “the appraiser is holding a lot of power over your future, so it’s wise for you to make sure that your home is seen in the most favorable light.”
Fortunately, there are a lot of ways to make sure that everything is up to par and in ship shape without breaking the bank. Here are three ways to make sure you’re getting the most value out of your home.
1. Get a Home Inspection
If you are selling your home you’ll be, be needing an inspection along with the appraisal anyway–and there is a difference between the two. While the appraisal tells you how much the house is worth, the inspection tells you the condition the house and its components are in. While there is some debate as to which order this should be done in, many settle on the home inspection first so that you know exactly where your biggest problem areas are going to be if you happen to have any. Small leaks can turn into big problems quickly, and the longer you put off repairs, the more expensive those repairs will probably become.
When it comes to the inspection, you’re want to avoid the most common mistakes homeowners make, such as not researching the inspector, not attending the inspection, and not reading the inspection report. Additionally, make sure that you prep the home for inspection as a courtesy to the inspector. There’s nothing like piles heavy boxes full of christmas supplies blocking access to the attic to make a professional’s day.
2. Increase Curb Appeal
Increasing curb appeal just means putting some time into making the exterior shine. Corkd mentions three different ways to increase curb appeal for under $1,000, including tree removal, simple lawn care, and pressure washing. Check out their infographic below.
Also be sure to paint and stain your house as well as to keep your gardens looking fresh. The first impression of your abode will be from the outside, so make sure it’s one that wows.
3. Minor Interior Upgrades
When you talk about increasing the value of your home, a lot of people immediately think about adding that new wing to their house, or dream up other renovations that they assume will be great. The bad news is that most remodels are going to cost more than the value that they will add. The good news, however, is that certain remodels actually will add value to your home, namely, according to HGTV, any small update to your kitchen. Replacing an outdated vanity, some old plumbing, adding new floor tile, or even updating your countertop can breath some new life–and value–to the interior of your house. If you are going for the countertop update, be wary; it’s a bit bigger and can be costlier. Consider quartz to save on money without sacrificing in aesthetic.
Remember that certain renovations simply are not worth it. According to US News, these are the renovations that yield the smallest return on investment.
- Home office remodel: 48.9 percent
- Sunroom addition: 51.7 percent
- Bathroom addition: 60.1 percent
- Backup power generation: 67.5 percent
- Master suite addition: 67.5 percent
It’s worth it to remember that there are plenty of other ways to make to make sure you’re getting the most value out of your home, especially before an appraisal–these are just three of the most broad aspects that cover many minor things. Make sure that everything stays in repair and is regularly maintained. If it all functions well and it looks good on the inside and outside, your home should retain its value and–if you’re lucky–it might just increase.