Start making a list of home improvments you have done and attach a cost to them. Be sure to leave that list on the counter for the appraiser when they come to your home. If it can help bump the value of your home don;t lets your blood sweat and tears do to waste!
You may be wondering “What is my home worth?” so Ryan Scholer of http://LenderFi.com explains some of the important things you need to know about getting an appraisal for a home mortgage or refinance. You will learn the three ways to appraise a home in real estate, the income approach, the cost approach and market data approach. You will learn how to avoid some common mistakes and how to get your home ready. You might also be surprised to know just how much of an impact you as the home owner can have on the actual appraisal (and how to increase the value of your home) by preparing a few things beforehand. For instance, in the state of California, all homes need to have a CO detector and this can affect your appraisal!
Rob Corcoran talks about the 5 best ways to make an improvement to your property and add value to your home. 1. Remodel Kitchen – If remodeling your kitchen, remodel your entire kitchen. Potential buyers don’t want to have to redo the rest of the kitchen themselves. If your planning to do soft upgrades, simple things like painting the cabinets can make a huge difference. 2. Add Light – Many homes built even 10-15 years ago do not have adequate lights in today’s standards. Things like sky lights and canned lighting can make a bid difference. 3. Increase Curb Appeal – Simple things like fertilizing your lawn, and adding new trees and vegetation change the feel of your home. 4. Maintaining/Add Deck – Regular staining can help make your home more appealing to a buyer. If adding a deck, don’t make it to small. A deck that does not comfortably fit 8-10 people may be too small. 5. Update bathrooms – If updating one bathroom, update all of them. Keeping consistency throughout all of the bathrooms will both accomplish your goal and add value to your home. Before starting any large project, sit down with a financial expert. That way you can review your plans, and make your dream a reality. Visit https://www.macu.com for information and to schedule an appointment with a financial expert.
This video series explains the best methods and techniques of increasing the value of your home derived from the analyses of thousands of appraisal assignments from one of the largest residential appraisal firms in the southeast.
http://birminghamappraisalblog.com/ – Birmingham, AL real estate appraiser Tom Horn discusses how to save yourself time and money during an FHA appraisal. By making sure that the electrical outlets work before the appraisal the appraisal and loan process will not be slowed down. You’ll also save the client money because they will not need to pay for a final inspection.
Here are some tips to challenge a low appraisal. I hear all the time from real estate agents, home owners and investors about bad appraisals. You never know if the appraiser or a lender will listen to your points, but if you feel the appraisal product was negligent and missed very important details, it’s worth considering putting together a one-page reconsideration of value that contains solid points and things I mention in the video.