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Home Improvements That Improve Your Home's Value

An appraisal impacts both getting a new mortgage or refinancing your current one. A licensed professional evaluates the monetary value your home, providing documentation that your home is worth the amount of the loan. 

Try these upgrades to make the best impression for your appraiser's assessment of your home.

The Exterior of Your Home 

Make sure your home is neat and clutter-free. Landscaping adds to the overall appearance of your home, but it can dimish the value if it's overdone. Aim for a look that is tidy and well-kept. Give your home a fresh coat of paint if you see signs of graying, peeling, or cracking. If your house has wood or ledger panel siding, make sure that it is clean and in excellent condition. 

The Interior of Your Home 

The inside of your home may not always be neat and organized, but you'll want to make sure that it is for your appointment. Pet hair, off-odors, and a gloomy appearance negatively impact your evaluation. Eliminating these offenses will help to raise the appraisal value of your home. Make sure that all areas of the home are accessible and also clean, not just the living room and kitchen. 

Remodeling Your Home 

Remodeling and updating increase your home's overall value. Appraisers pay extra attention to kitchens and bathrooms, so it's natural to focus on these areas for upgrading. Cabinets, countertops, tile flooring, sinks, and fixtures can improve the value. Repaint the walls if you see that it's peeling or generally lost its luster. 

Here's another tip: finish your basement to add even more value to your home! If you've already started any home improvements or repairs, complete them before the appraisal. 

Additional Tips 

Certain appliances and fixtures can add to appraisals. A luxury bathtub, such as a hot tub or spa, is one example. The appraiser also considers central air so you'll want to make sure that your unit clear of any debris, with a clean filter.

Last Thoughts 

An appraisal is not only based on the condition and features of your home, but also of similar homes in your neighborhood. Features that are considered excessive or unusual for the area can diminish the value, so do your homework before you remodel to add value to your home. 

Are you thinking about refinancing? We can help! Call our office today to speak with a helpful mortgage professional.

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