Can Upgrades Mean A Higher Appraisal?

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Can Upgrades Mean A Higher Appraisal?

Sunday, May 4th, 2008 by www Subscribe To My Feed

Are you thinking about selling your Lake Granbury real estate? Whether you are moving or refinancing, chances are you will need an appraisal. An appraisal is an approximation of how your home is valued. In order to get the maximum appraisal possible you may want to make some improvements, but sellers beware: while some improvements bring back an excellent return on your investment, others do not. It is critical that the seller do some homework before spending the cash and hiring a contractor.

An appraiser will come to your property and inspect it, observing its physical condition and any problems which might affect the appraisal. The appraiser will record the size and layout of the house, and will list the size and number of the rooms. If you have any additions in your house such as garages and pools, it will be taken into consideration.

Since the condition of your home will be recorded and will have a significant effect on the end price, it is vital that your house is in good repair. On the outside of your home, make sure that porches are painted and repaired, that the siding is in good condition, and that the trim and doors are not peeling. The roof should be in good condition, and windows should be tight and energy efficient without spaces.

On the inside of the house, make sure that all cooling and heating systems are up to code and properly operating. Walls should be hole-free and discount wood flooring should be in good condition. Dirty carpet or linoleum should be replaced if they can’t be made to look better.

Once the essential repairs have been made, you can consider making improvements to your home. It is important before you do so to figure out just how much a particular upgrade might add to your home’s price. Make sure that the money you spend has a positive effect on your home’s price. This can vary from area to area, so find out what local home buyers want, and be careful about overdoing it.

As a general rule, adding square footage or remodeling baths and kitchens add the greatest value, while custom installations can have a negative effect on the value of your Granbury homes. The appraiser will know how marketable your improvements are. You should too, before you do them. The minimal amount of time and effort you spend doing a little investigation can have a great impact on the price of your home.

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