Top 5 things that can hurt your appraisal

When you're listing your home for sale, one important thing is the appraisal. But this is an area that can be positively or negatively impacted by what you do or don't do to your home before it is appraised.

Knowing what to pay attention to can help you increase your home's value. I would be happy to sit down with you and examine how well-prepared you are for an appraisal. In today's competitive real estate market, it's critical that your appraisal is accurate, so that you can get the best price for your home.

Here are the top five things can can hurt your appraisal.

1. Exterior and interior: A lack of curb appeal not only can cause potential buyers to turn away from your home, but it can also cause an appraiser to devalue your appraisal. if the exterior has lots of overgrown bushes, peeling paint, bad roof, rotting windows, and an unkempt look, this could cause the appraiser to take "as much as three percent off," according to CNN Money.
   Curb appeal doesn't just help entice buyers to come in and see your home, it can actually increase your appraisal value. Also, if your neighbor's homes are meticulously maintained, and yours is not, this could cause your appraisal to be even more severely downgraded. A nicely landscaped yard is a sign that the home is also kept up.
2. Trendy remodels: Remodeling can certainly add value to your home, especially if you're adding storage, room additions, and other important improvements that are popular among buyers. However, if you do a costly and trendy remodel and think that the true cost will equal the value, you could likely be very disappointed.
   Some remodels add value while others can actually hurt you when an appraisal is done. To make the most of a remodel, renovations should keep in line with the historical period of the home. If they don't, then an appraiser will assess the cost of having the remodel taken out, such as a trendy, custom-built entertainement center. However, adding space to the kitchen using timeless styles will add value.
3. Unfinished projects: Don't have an appraiser inspect when your projects are incomplete. If you must get the home appraised and work is nearly complete at the time of the appraisal, be sure to give the appraiser a full description of the job and what is being done to quickly and professionally complete it.
4. List your improvements: Don't expect all improvements to help your appraisal. For example, a new roof won't count, because it is expected that a roof will be in good condition. But other improvements could add value. Instead of trying to figure out yourself what will increase your value, make a list for the appraiser including any documentation the appraiser should review.
5. Not doing your homework: It is important to understand your marketplace and what homes similar to yours have recently sold for. It is especially good to know the reason why a home similiar to yours sold for a lower price. That way you can explain tot the appraiser the difference between the two homes. Be sure to use an experienced real estate agent (like me) to provide you with market information befor eyou have your home appraised.

Taking the time to understand the areas that can positively influence your appraisal can prevent your appraisal coming in at a lower value than the asking price. Give me a call to learn more about how you can avoid these top five appraisal mistakes when you sell your house: 610-687-2900, ext 113.