A home appraisal is an important part of selling or buying a home as it enables you to get an idea of how much your home is worth before you place it in the market. This is usually conducted by real estate appraisers, and there are several factors that home appraisers look at to determine the value of your home.
When appraising a home, they usually look at external and internal factors. External factors include neighborhood characteristics, zoning classification, public utilities, and lot size. On the other hand, internal factors are basically what your house is made of inside; this includes the number of bedrooms, bathrooms, and the things you have renovated.
You should be prepared for a home appraisal even when there is not much you can do about the external factors of your property, usually just improving your backyard by adding a few upgrades in it to increase the value of your home. Here are some things you can do and add to increase the value of your home:
1. Remodel Your Home’s Interior
The best way to increase the value of your home is to remodel it. Remodeling allows you to expand the existing spaces or convert them into additional rooms. An excellent example of an area that you can renovate to increase the value of your home is the kitchen and bathrooms.
For many people, a kitchen is the heart of the house; it is the hub that connects every other aspect of the home. Investing in this space can make a whole difference in the value of your home. One way of remodeling your kitchen is to add extra storage or extended areas.
In the same way, you can add an extra bathroom by converting one bedroom into a bathroom. When doing appraisals, home inspectors pay close attention to the state of the plumbing in a house. It is to ensure that plumbing in any additional bathroom is done correctly. You can also remodel your attic and basement into a new bedroom to increase the number of bedrooms in your home or make a walk-in wardrobe out of it.
Walk-in wardrobes are a trendy addition to your home and are capable of boosting its value significantly as buyers find walk-in wardrobes appealing. If your house does not have them in the bedrooms, consider adding them to capitalize on potential buyers’ preferences. Adding a walk-in closet to your home is not as costly as many people think. You can source modular units from suppliers at an affordable price. Whichever way you choose to do it, adding walk-in wardrobes to your property gives it a high-end feel, which in turn pushes its price up.
2. Create Extra Storage
Most buyers are attracted to homes that have sufficient storage space. Adding storage spaces in your home can be a high selling point that boosts its value. The best way to do this is to make use of wall spaces in the house by building shelves or fitting doors to form cupboards. You can create additional storage spaces in concealed areas in corridors, under the stairs, below and above the sinks and wall spaces that are not in use that don't have decorations on it.
3. Upgrade Your Backyard
Upgrading your backyard can improve the aesthetic appeal of your home and boost its value. Some outdoor features add value to one’s home, improve your property’s overall appeal, and marketability. For instance, A well-maintained garden with a variety of trees and plants has a substantial impact on real estate agents.
Also, there are a lot of things you can add in your backyard to be coherent with your garden and make the most impressions for home appraisals, such as adding a patio and a deck if you like spending outdoors as it will give you a spot for the grill, whenever you feel like sunbathing and if you need some space for entertainment when you have guests over. Usually, having a wooden deck is one of the major selling points of a house when it gets appraised.
4. Give Your Exteriors A Fresh Paint
Painting your home’s exterior is the easiest and most inexpensive way to improve the appearance of your home and boost its value. It increases your home’s curb appeal and covers any stains or marks that are difficult to remove if your walls are showing the aftermaths of harsh weather, trying to put on a fresh coat to restore it.
5. Add Lighting-Fixtures
Add lights to enhance the features in your property. These can go a long way in changing how your home feels and looks. Consider using soffit lights that help highlight your home’s architectural design and pendant lights in your room if you want some ambient lightings. You can also add ground lights to help accent high bushes or trees as well as porch lights to provide a welcome glow on your front door.
The real estate market is highly competitive, therefore getting a reasonable price for your home means ensuring that it offers more value to buyers than other houses in the market. The best way to offer more value to buyers and fetch a reasonable price for your home to maximize profit is to the things mentioned above, and it will guarantee that you’ll improve your home’s value for an appraisal.