Trying to get the most profit from your home sale?
Don't take out a second mortgage until you've read this article. You may find it easier than you think to boost the listing price of your home.
The Role of an Appraiser
A home's value is ultimately determined by an appraiser. Whether you hire one before listing or the buyer's lender provides one, it benefits your bottom line to know what he/she is looking for. I will cover 5 things the appraiser is evaluating.
Inspector vs. Appraiser
The inspection process is more technical and relates to the actual condition of the home and its various components. If you can imagine, he/she is more like a scientist...
..while the appraiser is more like a fine art collector.
His opinion is more subjective and based on the ambiance, the aesthetic, and the surroundings as well as the condition of your home.
This is where taste does matter, a little. Here are 5 ways you can be sure to get the best appraisal possible:
Boosting Your Home's Value
1. Do for your neighbor as you do for yourself
One big factor that plays into your home's value may not be your home at all. The neighborhood you live in, especially the homes around you has a huge impact on value.
If your elderly neighbors can't mow their lawn and the couple next-door lives in a jungle of weeds, you may be helping yourself to help your neighbor. Do so tactfully of course.
2. Trying to sell oceanfront property in Arizona?
There is not much you can do about your location (choose wiser next time), but even if you can't boast an ocean view, do what you can to improve the vista from your front door or main balconies.
Trim unsightly trees blocking your view of the sunset hills. You can also cut down the old hedges if it means opening up your view of the world, as long as it is a pleasant view.
3. Curb appeal, Curb appeal, Curb appeal
Surely you're sick of hearing this one, but it is worth repeating. An appraiser will examine your yard's overall form, health, and function.
Adding stepping stones to the muddy ruts in your lawn, removing diseased plants, and generally keeping the property well maintained until the sale can make a difference to your profits.
4. Overall Aesthetics
Looks do matter. There, I said it. In the appraiser's eyes, homes with extremely outdated styles won't be worth as much.
You don't need to renovate the whole house, but you could get rid of the green shag carpeting.
Try removing the dusty drapes to let light in. Also, a simple change in hardware can do wonders to help make a home look updated and stylish.
5. Follow through with your inspector's suggestions
In evaluating your home, your appraiser considers more than its condition alone. However, they are still considering it. Make sure the repairs suggested by the inspector are complete.
You might even walk away with more money than you expected. At the very least, you will have the satisfaction of knowing you made the most of your greatest investment.