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The recent sagging housing market has homeowners looking for ways to maximize their home and get the highest appraisal possible when they refinance, whether they need equity from their home or want a lower mortgage payment.
Here's some quick tips for your unique house plans and a to do list to review prior to setting up the appointment for an assessment.
1. An appraiser will check all rooms through your home for damage that could affect the overall value, so scope out your entitlement home for anything that needs fixing.
2. An appraiser will verify any upgrades if you choose to provide a list of these upon their arrival. Creating a worthy list with all the upgrades, additions and special features will make it easier for the appraiser to remember these once they have left your home.
3. Appraisers note all permanent features to a home that will affect value. For example, built-in appliances in the kitchen. Any removable appliance is not included in the appraised value.
4. Appraisers will check the foundation for upgrades and finishing, because an updated finished basement can increase a property's value, but they are never included in the total square footage.
5. Appraisers always check the furnace and air-conditioning units making sure they exist and are in good working order.
6. Appraisers also verify the number of bedrooms in a home. A bedroom is defined as a room with at least one closet and one window. So, never turn a bedroom into a den or merge two bedrooms into one without you have four or more bedrooms to begin with in your home.
7. Appraisers will appreciate a home that does not have cracks in the walls, or unfinished remodeling projects like painting half completed. In fact, do not even begin a project you will not have time to finish in your home before an appraisal; it can negatively affect your home's value.
8. Appraisers also take photos of the front and the back of the home. Then, they will measure all land area on the property.
9. Appraisers make sure you have GFI outlets within six feet of all water sources. This means all sinks in your kitchen and bathrooms need this type of outlet.
10. Appraisers look in your attic for adequate insulation. Also, adding an attic fan is a nice touch since it will show off a well maintained home.
11. If your home was built prior to 1978, then it is wise to check for peeling paint. Paint used in homes before 1978 had lead in it. But, do not sand any peeling surfaces in a home of this age, just prime and paint. It is unhealthy to sand the paint because it causes paint particles to become airborne.
12. Appraisers check the home's roof and make sure it is in good shape. Roofs over 10 years old can affect a home's value.
13. Your home's exterior will make a difference in the value of your home. Brick is superior … Read More