Appraisers consider the curb appeal, or what a property looks like in general compared to other homes in the area, when valuing a home. Lot size calculations and views also take into account, but having usable, clean and attractive land increases the appraised value and attractiveness of the home to buyers. The curb appeal and overall landscaping of the home also affect the appraised value of the home. If your home lacks curb appeal, it could lower the value of the home.
On the other hand, if your garden is full of hard-to-care plants and a dangerous dead tree, this could also adversely affect the appraised value of your home. It is best to opt for a clean and easy-to-care landscape design to attract the majority of buyers and increase the appraised value. You may have been to a few strange homes in your life and, most likely, some of those strange characteristics may adversely affect a valuation. For example, houses built in the 1930s and 1940s often connect multiple bedrooms without an intermediate hallway, reducing privacy.
Colonial homes can have strangely placed walls or small rooms that seem to be of no use to the modern homeowner. Extravagance may not help an evaluation. What many agents and homeowners don't know is how much the outside appeal affects appraisers. Nothing looks worse from the sidewalk and sets off subconscious alarms, such as hanging gutters, the lack of bricks on the front steps or peeling paint.
Not only can these deferred maintenance items damage your home, but they can also reduce the value of your home by 10%. Research suggests that the general condition and interior decoration of a property, while still key elements, external attractiveness can play a fundamental role in increasing total value by at least 20%. A messy home shouldn't affect the appraisal, but signs of negligence can influence how much lenders are willing to give you a loan. Suzette Peoples, owner and agent of Peoples Properties, said that curb appeal is important for buyers to form a positive opinion about the property.
One of the most important things that can have a negative effect is the age and condition of home systems (HVAC, plumbing) and appliances. To create the right curb appeal, it's essential to focus on a few important factors, such as the front patio, the front door, the backyard and, above all, the element of privacy. Fortunately, whether your budget is large or small, you can use these 6 tips from successful real estate agents to increase your curb appeal and get a return on your investment when selling your home. The most common advice offered by real estate professionals and appraisers is to paint the exterior of your home properly.
Talk to any real estate agent (or avid HGTV viewer) and they'll tell you that increasing your curb appeal is important when selling your home. There are several factors that adversely affect the valuation of a home, but if you are concerned about a few specific items, rest assured that there are a number of factors that will not affect the valuation of the home. And appraisers are much more likely to correlate with the higher end of the range if a home has good exterior appeal, even if the home interior lacks high-end improvements. According to a study conducted by Michigan State University, a home with a landscape design and reduced effort on sight can increase the perceived value of a home by 5 to 11%.
You only have one chance to make a good first impression, so make the most of it by increasing your external appeal. If you're ready to have your home appraised, you should address any major issues that could affect the value of your home, such as damaged floors, outdated appliances, and broken windows. Because your house was on the market, you've probably taken care of the main elements of exterior appeal, such as painting the door, installing new gardens, etc. .