If you’re selling or refinancing your home soon, you want to boost its value before getting an appraisal or listing it on the market. Real estate investments appreciate naturally over time, but you can raise your home equity even more with the right upgrades. Here are the top ways to increase home value in time for an appraisal.
- Remodel the kitchen: Key kitchen upgrades are a must if you hope to maximize your home’s value. Some ideas include repainting the dated cabinets, upgrading the laminate countertops, installing a new sink and faucet, and replacing the mismatched appliances.
- Remodel the bathroom: The other room that garners the most attention from buyers and appraisers is the bathroom. Even if you don’t want to pay for a full-blown renovation, some cost-effective changes make a big difference. For instance, replacing an outdated faucet, repainting the aging vanity, and installing a new tile floor are sure to draw an impressive return on investment.
- Install energy-efficient fixtures and appliances: Making home improvements with energy efficiency in mind might not sound very exciting, but buyers weigh their future energy bills very heavily. Therefore, it’s worthwhile to replace clunky ceiling fans, water-wasting showerheads and faucets, inefficient kitchen appliances, and the old washer and dryer.
- Replace your HVAC equipment: Another energy-efficient upgrade involves replacing the heating and cooling system. If you don’t already have central air conditioning, consider adding it for a home value boost. After all, most homebuyers these days value comfort as much as energy efficiency.
- Replace your windows, doors, and siding: This upgrade to increase home value addresses efficiency and aesthetics. If you have old, rickety windows that leak air or doors that don’t operate properly, put off your home appraisal until you have them replaced. New siding can also improve your home’s curb appeal and provide added protection against the elements.
- Install a water conditioning system: If you struggle with bad-tasting tap water, consider installing a whole-house water filter. A water softener is also a wise investment if you notice symptoms of hard water, including chalky, white deposits on your plumbing fixtures and appliances. These affordable water conditioning systems are the sorts of luxuries homebuyers love.
- Add home automation features: Even older homes are instantly modernized with the addition of a Wi-Fi thermostat, video camera doorbell, smart door locks, motorized window coverings, and programmable lighting. You can expect your appraiser to assess a higher value for your home when you point out these home automation features.
- Repair structural damage or safety hazards: Not every home improvement that increases value is noticeable at first glance. Hire an inspector to help you find little things in need of repair. A leaky pipe, unstable wood deck, hazardous electrical wiring, damaged roof—these all need attention before you get your house appraised.
- Paint your home inside and out: One of the simplest, most cost-effective tips to increase home value is to repaint your house. A fresh coat in a beautiful new color goes a long way toward earning a higher appraisal and grabbing the attention of potential buyers. Just remember to stick with safe, neutral colors to appeal to a wide range of tastes.
- Clean up the landscaping: A well-groomed lawn framed by manicured shrubs and colorful flowers adds instant curb appeal. This critical element can have a surprising impact on your home’s value. In addition to keeping beauty in mind, strive to pick native, drought-tolerant plants that require less water and maintenance to retain their beauty.
- Remove popcorn ceilings: Few features date a home more than popcorn ceilings. If your older house has this characteristic, hire a company to remove it for an instant home value boost. It’s important to leave the job to a professional because some popcorn ceilings contain harmful asbestos.
- Replace the flooring: Nothing turns off buyers faster than old, stained, or smelly carpet. At the very least, have your floors cleaned before getting an appraisal. Better yet, replace your carpet with low-maintenance, hard-surface flooring like tile or laminate. This appeals more to modern buyers than wall-to-wall carpeting and will make your home look 10 years newer.
- Hire a cleaning service: If you decide to have your carpets cleaned, take it one step further and hire a company to scrub your house from top to bottom before the appraiser arrives. This is primarily a cosmetic improvement, but making your home sparkle increases its beauty and, therefore, its value.
- Stage your home: Once everything is spick and span, the final step is to stage the home for the appraiser and future open houses. The goal is to make your home look like it belongs in a design magazine. If you’re not sure where to begin, consider consulting with an interior designer. In short, you’ll need to declutter, depersonalize, rent or buy staging furniture, and add finishing touches like fresh-cut flowers in the kitchen and plush towels in the bathroom.
Apply for a Home Loan Today
Whether you’re interested in upsizing, downsizing, or refinancing your current mortgage, the Oklahoma City-based team at Financial Concepts Mortgage can help. We’ll work with you one-on-one to ensure you get a home loan solution catered to your specific needs. Our loan officers will not only walk you through the mortgage application process but will be there for you every step of the way throughout the life of your loan.
Please call us at (405) 722-5626 or contact us online to work with a locally owned mortgage bank serving Oklahoma, Texas, Kansas, Arkansas, and Alabama. You can also begin the pre-approval process online.