If you’re thinking of selling your home in the near future, there are a few things you can do to increase the value of your property. Investing in a new office or modernizing an existing one can increase the value of your home, and you might even find that you get a better offer on the property. The next step is weather-proofing your home. In Florida, there are many hurricanes each year, as well as high summer rainstorms. The appraiser will also be checking out the gutters and roof shingles.
Preparation
One way to improve your home’s appraisal value is to prepare it before you put it on the market. While you can’t control every aspect of the value of your home, you can prepare it so that it gets the highest possible price. For starters, you should take a look at similar properties on the market so you can determine what to fix and what to leave. A home that’s clean and free of clutter will appeal to buyers more than a dirty one.
Staging
Using staging techniques can increase the appraised value of your home and help you sell it faster. Buyers make their choice on a home in less than 20 minutes, so you should pay attention to every detail – inside and out. The more attractive your home looks to potential buyers, the higher its selling price will be. By staging your home for sale, you will get more bids and sell it faster. Read on to learn about the benefits of staging your home for sale.
Fresh paint
Newly painted homes sell faster and attract more attention than those with shabby, outdated paint. Whether you plan to sell your home soon or just keep it for yourself, new paint can enhance its appearance and increase its appraisal value. A fresh coat of paint can also increase your curb appeal. A freshly painted home can even increase your home’s safety. Here are some other ways fresh paint can increase the appraisal value of your home:
Basement renovation
The value of a basement can be tremendous. Most homeowners finish their basements for personal reasons, such as adding more usable living space. Other homeowners use their basement as an extra bedroom or a guest suite, or even a vacation rental. However, you must check zoning ordinances for the area you live in before you begin the renovations. In some areas, short-term rentals are prohibited.
Comparable homes
One way to improve your home’s appraisal value is to look at the recent sales of comparable homes in your neighborhood. While this may seem obvious, some properties aren’t comparable enough to make them a good choice for a new listing. Even in rising markets, some comps may be too old to support a new deal. This may not change until the federal government issues new appraisal rules, which won’t affect most conventional loans until the fall.
Documentation
Whether you are selling your home, using the equity in your property, or refinancing your mortgage, an appraisal is a critical part of the process. However, there are several simple, affordable upgrades you can make to your home to boost its value. While the interior of your home is important to the appraiser, the neighborhood and area around it are equally significant. While it’s impossible to add significant value to every part of your home, you can make small improvements to give it a fresh look and boost its appraisal value.
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