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Preparing to refinance your mortgage: How to increase home value for appraisal

by Joffre Navas 11/04/2024

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Homeowners wanting to refinance their mortgage often wish to know how to increase home value for appraisal purposes. The higher the appraised value, the more cash in your pocket from the refinancing. But which upgrades and changes can make the most considerable difference?

Here are some ways you can increase home appraisal value before the appraiser arrives:

What increases the value of a home refinance?

When preparing for refinancing, you can use many of the same strategies employed by home staging experts. Some basic changes you can make involve deep cleaning, refreshing finishes, removing clutter and improving your curb appeal.

What appraisers search for to determine value

Regardless of age or location of your home, an appraiser will focus on the following characteristics:

  • The condition of both the interior & exterior.
  • The total number of rooms, including bedrooms and bathrooms.
  • Improvements or upgrades made to kitchens, baths, windows, roof and major home systems.

Other factors important to the appraisal process include:

  • The home's location, both in the context of the neighborhood and general area.
  • Any unappealing or distracting exterior features of the home, such as inconsistent architectural style elements in comparison with the rest of the neighborhood.

What adds most value to house appraisal?

The best way to add value to an appraisal report is to improve and repair any existing issues with structural elements or major systems. Replacing or repairing plumbing, HVAC and electrical will add to your home's useful life and overall value. Simple cosmetic changes like fresh paint, new kitchen cabinets and updated bathroom fixtures are also a major plus.

What hurts a home appraisal for refinance?

Just as there are things you can do to improve your appraisal value, there are things you should definitely avoid. Messy landscaping, dilapidated exterior finishes and other signs of disrepair will lower your score.

Broken appliances and outdated heating, ventilation and electrical systems are also major red flags to an appraiser. Make sure to replace any stained carpet and replace damaged flooring materials as well.

If you need help determining what changes would help your home get the best possible appraisal, you can consult an appraisal management company or real estate agent for advice. Knowing what will make the most significant difference can help you save money on repairs and upgrades to get the most from your refinancing.

About the Author
Author

Joffre Navas

Knowledge and Experience You Can Count On! For most families the decision to buy a home or sell their home is an exciting and complex adventure that involves a lot of preparation and work. It can also be very time-consuming and costly if you're not familiar with all aspects of buying or selling a home. I can provide you with the best information and resources to help make this experience an enjoyable one. One of my specialties is representing the best interests of St. Lucie County and Martin County FL areas.

My comprehensive, high-quality services can save you time and money, as well as making the experience more enjoyable and less stressful. I have lived in St Lucie County for almost two decades and with over 20 years of experience as a local market expert, I can help you make the most informed decision. Whether you're buying a starter home, your dream home,an investment property, or selling your largest financial asset, I know how to handle every aspect of the buying and selling process. I can strategically market and showcase your home to find you the best deal in this market.

My top priority is to provide you with comprehensive, high-quality service. So when you decide to buy or sell your home, please contact me and let's get started! The secret to the success of Keller Williams is in the quality of its people and the relationships that they have with the communities they serve. Customers appreciate the depth and expanse of local knowledge the company’s career-oriented agents work hard to maintain. The company focus has expanded to offer our clients a full spectrum of real estate related services.