Increasing Your Home’s Appraisal Value
Updated February 4, 2019 . AmFam Team
Whether you’re selling your home, taking advantage of equity you’ve built in your home or are looking to refinance your mortgage, you want your home to be appraised at the highest dollar amount possible. And there are plenty of ways besides major renovations, home additions and other expensive improvements to boost your appraisal.
Use the Area Around Your Home to Boost Its Appraisal Value
A home’s value isn’t just about how it looks and feels on the inside — a lot of it depends on the exterior of the home and the area around it, too. Use these tips to spruce up the outside of your home and the space around it to get your home’s value up!
Improve your house’s curb appeal. Adding a fresh coat of paint to your front door to make it stand out like it used to, getting your window professionally cleaned and illuminating pathways to your home can wow passersby and guests before they even step foot in your home. Making your home appear safe, comfortable and stylish from the outside can boost your home’s value whether it’s on the market or not.
Mow and clean up your yard. An unkempt and uncut yard isn’t very inviting. Making it short and tidy before the appraiser visits is a must, and keeping it that way can boost interest in your home over the course of the time you live there.
Examine the exterior of your home. Damaged siding, missing and lifted shingles or other damage to your home and its exterior can be a real eyesore to buyers. Examine your roof from the safety of the ground and walk around your home to make sure all your siding is intact and clean. If you notice anything amiss, get in touch with a professional as soon as possible. Damaged roofing or siding is not only a detriment to your home’s appearance and value, but can also lead to costly repairs later on.
Increase Your Home’s Value on the Inside
Once the appraiser makes their way inside, it’s time for your home to really shine. Take these tips and make your home’s interior a real value-booster:
Document all of your home upgrades. If you replaced any appliances in your kitchen, renovated a bathroom or performed any other improvement projects, document the costs and dates of the upgrades. Seemingly small fixes like replacing older countertops or getting a new dishwasher can add value to your home.
Give your home a deep cleaning. An appraiser should be valuing your home based on how it’d appear as a clean slate to a new buyer, meaning they should ignore the furniture you’d take with you when you move, things on the walls and any other custom items in your house. But that doesn’t mean your home shouldn’t be clean — make it as inviting as possible by giving it a deep cleaning and removing all clutter.
Patch up any imperfections. Re-painting walls, patching up damaged trim and fixing other noticeable blemishes will make the home appear that it’s meticulously cared for — and it is!
If you have flooring or carpet that’s visibly in need of a fix or an upgrade, you could be in for a much more expensive fix. But in the long run, it’s well worth your trouble.
Prepare Yourself for the Appraisal
The perfect appraiser would focus solely on your home, eliminating all external and personal factors to give you the exact value of your home. But perfection rarely exists in any occupation — here are the ways you can make your appraiser’s visit as easy and comfortable as possible:
Let the appraiser do their job. They’re not there to chit-chat — they’re at your house to determine the value of your home, so don’t follow them around or hound them with questions.
Be open to the appraiser’s questions. Answering the appraiser’s questions honestly and in detail can go a long way towards getting a fair and accurate valuation of your home. Let them know you’re happy to help fill in the blanks anywhere you can from the very beginning.
Preparation is key here, too. Just like you have all the paperwork for home improvements, have all the “whys” for all those changes handy, too.
Do your own comparisons. If homes in your neighborhood have been sold recently, try to find their sale price on a real estate aggregation or city assessor's website. Find the listing, compare its features to yours and take notes — if your home value is distinctly lower than that of a comparable home, ask the appraiser and/or their company to go over the differences in value.
Once you’ve had your home appraised, get in touch with your American Family Insurance agent (Opens in a new tab) to make sure your homeowners insurance is giving you the peace of mind you deserve.
Related Articles
- 9 Steps to Create a Home Inventory for Insurance Claims
Your home is more than a roof over your head. It’s where your dreams grow, your family thrives and memories are made. But the possessions you keep inside are important, too.
Whether you’re renting an apartment or own your home, you’ve most likely got an insurance policy designed to protect your dwelling and the things inside. Should the unthinkable happen and you have to use that insurance policy, it’s important to have a plan in place. And a home inventory list is a great way to get started!
We’ll walk you through how to create a home inventory so — in the event of the unexpected — you’ll be more prepared and have a streamlined recovery.
What Is a Home Inventory?
Quite simply, a home inventory is a complete list of all the items, especially valuables, in and around your home. The best home inventories include photos, descriptions and dollar values of each of your belongings. The more detail, the better! It’ll help you provide a comprehensive list to your agent of items lost in the event your home is damaged or destroyed, allowing you to get the most out of your coverage.
When your describing the items in your list, remember that the more information, the better. Here’s a quick reference list of the type of information you should include in your home inventory list:
- An in-depth description of the items. For example, rather than writing down “diamond ring,” be more descriptive, such as: “an emerald cut diamond ring, with white gold shank, accent stones and initials inscribed below the bridge.”
- Make, model, and/or serial number of the items.
- Date of purchase, receipts and photos.
- Estimated replacement cost if you bought it today. Do note that the value of the items might be different today than it was when you first bought them. This is especially true with jewelry, and other valuables.
- Appraisals at time of purchase. Especially if your items were appraised for insurance purposes.
Why Do I Need a Home Inventory?
Whether you’re a homeowner or a renter, everyone can benefit from a home inventory!
If you ever have to make a claim, a home inventory is a great asset to have, especially after stressful events like theft, storm damage or a fire (take a look at how one renter used their home inventory after facing an apartment fire).
When you make a claim, you typically submit information on everything that was lost — which can be difficult to do off the top of your head for all your possessions. Remembering to replace your TV or computer are no-brainers, but when it comes to remembering each piece of jewelry in your jewelry box, things tend to get overlooked. Having a personal property inventory will help, along with knowing how to properly insure your jewelry.
When you have your home inventory checklist, you know exactly what needs to be replaced, and you’ll have peace of mind knowing your entire household is protected.
- Reasons Why a Roof Leaks
You’re admiring the rain from the comfort of your home when you notice a sound — the unmistakable drip of water dropping onto your floor. The first and hardest step is figuring out why your roof is leaking. And with these tips, you’ll find the culprit in no time!
Here’s Why Your Roof Is Leaking
The list of reasons why your roof is leaking may seem long, but don’t worry — when it comes to finding the leak and fixing it, the finding is the hardest part. And the good thing about these problems? They can all be fixed. Check out the list and see what’s troubling your roof:
Your roof is old
Roofs don’t last forever. Protecting your home and everything inside it from the elements comes with a cost. And with all that rain, snow, ice, wind and even sunlight wearing down your roof, it becomes more susceptible to leaks. Every roof will eventually need to be replaced, so learn more about how long your roof should last based on what it’s made of.
- How to Check Your Roof for Storm Damage
There’s no good time to find out your roof needs repair — but you may be able to mitigate that pain by routinely checking your roof for damage after severe weather. Waiting for a leak or damage to present itself gives the problem time to grow and worsen.
And sometimes, you’ll be faced with expensive roof and interior damage repairs if you’re not diligent. By being proactive and checking your roof for damage after severe weather hits can help your roof — and your savings — stay healthy.
