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Increasing your home's appraisal valueThere are various reasons why you may need to call upon the expertise of an Owen Sound home appraiser. The most common reason is to determine an accurate and fair market value of your home for the purpose of selling. Other reasons for acquiring a home appraisal include applying for a loan, or any other form of credit that requires using your home equity. For the most part you will want to get the highest possible value for your home on your appraisal. Here are some tips to help you achieve this.

What is a home appraisal?

Essentially, a home appraisal is an estimate to determine the fair market value of your Owen Sound home. Potential lenders may require an appraisal when assessing if the amount you are asking to borrow can be regained by your home’s value should you default on your payments. When looking at the value of your home, the assessor (a trained and licensed or certified professional) will likely consider the following.

  1. Recent sales figures on similar Owen Sound Homes.
  2. The homes current state and condition
  3. Location and neighbourhood of the home
  4. Attributes of the home including age, size, number of rooms, lot size, etc.

Increasing the appraisal value on your home

While the value is based on several unchangeable factors listed above, there are a few ways you can increase the value of your home before the appraisal.

Clean and fix up your home

Before you get your Owen Sound home appraised, give your home a good look. Ensure the floors look their best and are in great shape, walls and trim should be clean and if possible give them a fresh coat paint. Be sure to clear away any excess clutter, and remove any debris so your appraiser can accurately see the home and get a sense of the condition it is in.

Clean up your landscaping, trim back any overgrown gardens and shrubbery as these can decrease the value of your home. A clean, tidy, and beautiful garden can increase your homes value.

Make a list of your homes assets

The appraiser will no doubt make a list of what they see in your home, making your own list can help ensure that nothing is missed. A great example of this is to list all upgrades and renovations you have done. You can also list what attributes you love most about your house such as the neighbourhood, yard, and proximity to schools or down town.