Appraisers Say These Are the Best Things to Do to Increase Home Value
Here’s how to increase home value and put more money in your pocket when it’s time to sell.
If you’re putting your home on the market, you’re going to want to get the best price possible and do whatever you can to increase home value. That means you’ll have to prove your home’s worth to an appraiser who will determine your home’s current market value.
Appraisers will make their assessment based on your home’s square footage, age, condition, location, amenities and previous sale prices, according to the Appraisal Institute.
Time to Spruce Up
There is one main thing appraisers say you can do to increase home value if adding square footage isn’t in your budget. That main thing you can do to increase home value is to spruce up your home’s appearance to make it look new and appealing.
One of the best ways to spruce up your home, impress appraisers and increase home value is to remove clutter, Jonathan Miller, a New York-based appraiser, tells CNBC. Clutter can make your home appear older and as if it hasn’t been maintained well.
Get rid of things you don’t need, such as dead trees in your yard, unused furniture and trinkets. A decluttered home looks more upscale and cared for. Decluttering will also make moving a lot easier when the time comes. And, it won’t cost you anything, other than the time it takes you to do it.
Real estate experts who talked to Nerd Wallet say a new paint job can really freshen up your home and take years off its appearance. This makes it a great way to increase home value. It can also hide the wear and tear on your walls.
Fix Up the Flooring
Dingy flooring in disrepair is something that will definitely stand out to appraisers. So, a new carpet or flooring (hardwood flooring is the most desirable) is a good investment that will help increase home value.
“If you don’t have the money to replace all of your flooring, focus on fixing damaged sections and getting carpets professionally cleaned before an appraisal,” Cody Gale, president of Colorado Appraisal Consultants in Denver, told Nerd Wallet.