How to Raise a Home Appraisal Value
A home appraisal value is the fair market value of a home. State law mandates how home appraisals are calculated, and specifies that the main factor is the value of homes within a specific distance to the home. However, there are several factors that can raise the value above the average of nearby houses. Does this Spark an idea?
Instructions
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Paint the walls. Depending on the state of the walls, they may just need a touch-up. However, if the walls are peeling, extremely dirty or out of date, it's probably best to re-paint them. The newly painted walls will raise the appraisal price enough to make painting worth the time and cost.
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Fix up the exterior. Wash the dirt off of the exterior of the house. Clean the windows from the outside. Touch up scratched paint on the exterior.
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Make minor repairs. Make sure lights are working and that the bulbs are functional. Water faucets should turn on and off and not leak.
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Landscape the property. Make sure that the grass is neatly cut. Weed the flower beds and mulch them if possible. When appraisers see poorly kept yards, they automatically assume the property has also been the victim of neglect. Appearances are everything.
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Watch for major problems. If there are cracks in the walls, siding falling off, major water damage on the ceiling or signs of major disrepair, the home value will suffer. Address these problems and fix the damages they cause, both cosmetic and otherwise.
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Clean it up. The appraiser has to be able to see the house. A dirty or cluttered house may lead to a lower appraisal value. House upkeep is very important to the value of a home, so keeping the house clean is imperative. If it's not already that way, fix it up before the appraiser arrives.
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Tips & Warnings
If the appraisal value seems too low, request another appraisal from the bank explaining why the appraisal seems unfair.
