Kitchens with modern, attractive appliances and quality floors and counters will increase a home's appraised value, according to Bankrate. Defective appliances, broken cupboards and a lack of counter space will lower the value, so replacing or fixing them can also lead to a better appraisal.
Interior — The layout of the home, total square footage, number of bedrooms and bathrooms, appliances, and the materials and condition of all interior surfaces will be evaluated. Any non-functional appliances, lighting, electrical outlets or plumbing fixtures detract from the appraisal value.
Appraisers will also look closely and itemize all appliances and fixtures installed in the home, including the dishwasher, refrigerator, washer/dryer, oven, and others. The appraiser will also be very interested in any improvements you made to your home, as well as the quality of those improvements.
A property's appraisal value is influenced by recent sales of similar properties and by current market trends. The home's amenities, the number of bedrooms and bathrooms, the floor plan's functionality, and the square footage are also key factors in assessing the home's value.
Just keep your communication to the appraiser about the facts of the home and neighborhood, how you priced the house, and any other relevant information you think the appraiser should know. And remember, don't discuss value. Don't pressure the appraiser to 'hit the value' and you'll be fine.
One of the big things that can have a negative affect is the age and condition of the home's systems (HVAC, plumbing) and appliances. If the local market is declining, that'll also hurt your home's appraised value.
Appraisals can come in low for a variety of reasons. Many factors are at play including market conditions, the appraiser doing the work, the subject property being appraised and the comps. Sometimes the appraisal is not even low; misplaced expectations were merely set too high.
Unless the amount of clutter begins to affect the structural condition of a home, it will not affect an appraisal. The cleanliness of a home also has no impact on the value. It is not uncommon for an appraiser to walk into a cluttered, messy home.
Appraisers flush toilets, turn on all faucets and ensure that both hot and cold water are working.
While they will typically not pay as much attention to cosmetic details, they will take note if the home is particularly run down. They will look at the doors, windows, ceilings, walls, and any leaking faucets or visible electrical issues.
Things like windows and doors, flooring, walls, plumbing, electrical, kitchen, and bathroom are essential parts of a home. The appraiser must know about all of these and be able to tell good from bad, and you can rest assured that he or she will look closely at yours.
While it may be unlikely that one or two new appliances alone can increase the overall value of your home, upgrading key rooms—particularly the kitchen—can net you an excellent return on investment when you're selling.
Appraisers look at the size, shape and topography of the lot, including easements and encroachments. The appraiser will also note amenities such as street utilities and vehicular access. Part of the evaluation process includes an opinion of whether the home's characteristics are compatible with the market.
The appraiser inspects the state of the foundation and roof, drains, windows, screens, decks, patios and balconies. They also look for infestations and dampness. Beyond the property structure, the appraiser will take stock of the parking situation and lot size.
The Importance of Good Gutters
Gutters work by moving water away from your home and its foundation, as well as properly guiding water off of your roof during rainfall. A home appraiser will examine the gutters when estimating the value of the home and include their condition in the home value.
Do Appraisers Look in Closets? The short answer is yes, they will look in your closet… but only to determine the total living area. So while a clean, organized closet is a sign of respect for the appraiser (and a lot more pleasant to look at), a messy closet won't negatively affect home value.
New flooring can add a ton of perceived value, encourage higher offers, and even make a home sell faster, but it may not add dollars to your appraisal. Buyers may like the updated flooring and offer more as a result, but don't expect a higher appraised value.
You didn't have to worry about this before, but now you're asking: can a messy home affect an appraisal? The short answer is “no, a messy home should not affect the outcome of an appraisal.” However, it's good to be aware that there are circumstances in which the state of your home can negatively affect its value.
Appraisers are looking in your closets not to evaluate storage space but because they can sometimes count the closet towards square footage.
How often do home appraisals come in low? Low home appraisals do not occur often. According to Fannie Mae, appraisals come in low less than 8 percent of the time, and many of these low appraisals are renegotiated higher after an appeal, Graham says.
You'll also want to make sure that you give your home a deep cleaning a few days before your appraisal to reduce clutter. Make sure that everything is neat, put away and in its place before your appraiser arrives.