Benefits of a Home Appraisal

Home Appraisal Value

There are numerous reasons why a home appraisal is conducted. You may want to get your home appraised to estimate its value, for the purpose of selling or refinancing. Or maybe you want to find out if you are being charged the proper amount for taxes and insurance premiums based on the value of your home. In most cases a homeowner is hoping for the highest possible appraisal value. Learn some ways to prepare your home, and get the highest appraisal possible.  Listen to this episode of the housing hour with residential home appraiser Tom White, to learn all you need to know about appraisals and home values.

Improve Curb Appeal

Curb appeal does more than turn heads of prospective buyers. Your home’s first impression is also important to the appraiser. There are many cost effective ways to increase curb appeal, and add to the market value of your home. Maintaining your yard, planting a garden, keeping shrubs trimmed and having a well-manicured yard are all things that will help with your home’s market value. We’ve only touched upon small portion of this topic. From door treatments to new paint, there are a number of simple things you can do to increase curb appeal for the appraisal. Click here to get more home remodeling ideas.

Compile a Home Information Packet

Appraisers have access to a number of resources, in which they can obtain information about your house and recently sold homes in the area. This information is usually credible, but can contain mistakes. To help prevent a low appraisal because of errors, put together and information packet for the appraiser. Just a few neatly written pages will suffice. Here are couple suggestions on things you can include in the package:

Comparable Home Sales

Supply your appraiser with any information you may have that support reasons why houses in your area sold for the prices they did. If one of your neighbors needed to sell quickly for some reason, and dropped the price, that should be brought to the attention of the appraiser.
Homes that sold within the last 6 months, which are located within a one mile radius of your home make the best comparisons. You can print data for homes sold in the area, and make note of anything that may have affected the prices.

Home Upgrades

Sometimes the appraiser does not get the most reliable information, and this can lower the value amount of your appraisal. Having a “brag” sheet for the appraiser to refer to can clear up any erroneous information, and help the appraiser see what they might have missed. Here are some suggestions for things you may want to include:
• Home improvements such as: new windows, new flooring, refinished countertops etc.
• Any replacement of major heating or cooling system components.
• Include any major improvements or add-ons done to your property. Provide as much documentation as you can about the work that was done.

Don’t forget to check out The Housing Hour’s website, for advice and tips on all things home-related.