7 Things that Improve Your Property Value: From An Appraiser’s View
If you’re planning to sell your home, you will have to increase its value first. After all, your aim here is to reach the best possible price at the negotiating table. The only person that’s standing in the way is an appraiser.
No doubt, pricing your home has to be one of the most convoluted steps in the selling process. Added to this is the fact that you’re virtually powerless when an appraiser starts to add up the numbers.
Indeed, there are certain things that appraisers take into account when pricing your home, so it’s best to improve your property based on what’s crucial to them.
Here are the 7 things that appraisers focus on when doing a valuation on your home.
1. Curb appeal
First impressions are important, especially among buyers. That being said, you have a good chance of increasing your selling price if you are able to improve how your property looks from the outside. Upgrading your landscaping by adding flowers, maintaining a lush lawn, and giving your home a needed paint job are just some of the ways that will definitely jack up your property’s value.
A home that has a clean and well-furnished kitchen is a keeper. That being said, opt to have the kitchen remodeled by replacing tiled floors with hardwood and refurbishing worn down cabinets and other fixtures. You might also need to replace old appliances with brand new ones that are energy-efficient. That way, your kitchen would look brand new to people during a open house viewing.
3. Green tech
Many buyers are willing to pay more for homes that are outfitted with green technology, including provisions for solar panels, energy-efficient light bulbs, programmable thermostats, and properly insulated walls and ceilings. If you’re living in a place experiencing weather extremes, going green is your best bet in improving your property’s value.
4. Smart tech
Buyers are not only environmentally-conscious, but they are also keen when it comes to adopting new technologies that improve home life. As virtual assistants and artificial intelligence become increasingly prevalent, you will need to invest in these technologies and attract buyers who don’t want to get left behind in the digital revolution. Though expensive, such features can help you find willing buyers faster and get a price for that.
5. Increase your square footage
If there’s one thing that immediately increases your property’s market value, it’s the size of the floor plan. Appraisers take this into account when comparing with the average price for such properties on the market. One thing’s for sure, adding another area to your property or increasing its floor plan are surefire ways to improve its value.
6. Interior design
Contrary to popular opinion, interior design does impact an appraiser’s valuation of a home. For sure, this doesn’t only involve the living room, but the appearance of your corridors and other interior areas are also up for assessment. You may want to give your walls a fresh coat of paint or wallpaper and replace your furniture with new ones. You can also add moldings on the ceiling and consider other aesthetic styles that capture your personality and provide buyers with enough leeway for improvements.
Who could pay more for a home that’s chock full of structural issues? If you want to improve your property’s value, the best way to go about it is to locate damages and other issues and repair them, either by yourself or through a capable contractor. For this, make sure to check your water lines for leaks and your electrical lines for any indication of a short circuit. You might also want to get rid of pests such as cockroaches and rat. At any rate, a high-maintenance home will definitely land a great price, so make sure to stay vigilant and fix even the most minor issues.
Still, selling your home is not just about effective pricing. You also need a firm understanding of the selling process. Work with the right broker to negotiate better terms with buyers.