Whether you are selling your home or planning to refinance it, you will need a home appraiser to help you determine its current value. Appraisal firms consider many different aspects about your property to make a correct appraisal of its market value. Everything from the home’s square footage to the materials used, its overall condition, and property amenities help determine the value of a house. Toronto appraisal companies then compare these factors with other recently sold properties in the same area in order to arrive at an appraisal value.
Attempting to increase the value of your property prior to a sale is a smart move if you want to get the most out of your investment. And there are many ways that you can improve its appraisal beginning with the following tips:
- Take advantage of first impressions. You can increase your home’s perceived value by improving on its outside appearance. Curb appeal is real and it plays a crucial role in acquiring a higher home value during an appraisal. A good way to increase your home’s curb appeal is to invest in backyard maintenance and landscaping, and perhaps adding things that could increase not only the look of your home, outwardly, but also enhance the functionality of different spaces, such as an outdoor kitchen or perhaps a deck. Remove dead trees and bushes that create an eyesore, repair walkways and dress up mailbox or fence—these are simple steps that can have a huge impact on your home appraisal.
- The inside matters even more. Don’t stop with outside appearance when trying to increase your home’s value. What’s inside your home matters even more, so make sure you do a thorough clean-up before the home appraiser Check for things that need repair or upkeep and replace those that are damaged beyond repair. Don’t underestimate the power of home staging and décor to up your home’s value.
- Highlight your upgrades. Make a list of all upgrades you have done in the property, including major and minor improvements so you can point them out to the appraiser during their inspection. Mentioning these upgrades will help inform them about all the improvements you have done on the property as well as its potential advantages over other properties in the market.
Home appraisers have the best knowledge about current market standards and will help you see where your property stands in the current market competition. By having an appraisal performed, you will get the chance to make even more improvements if you still wish to increase your home’s potential sale price.