What factors can affect the outcome of a property appraisal? It’s the age-old question that always pops up in the course of a real estate transaction, so it’s safe to say that this is what immediately came to mind the minute you started thinking of selling your house. As you already know, having the process handled by a professional home inspector Houston TX is of utmost importance. That aside, why not take a look at the aspects they’ll likely examine during the valuation?
It’s no doubt that location is one of the most significant attributes when it comes to valuing real estate. Even two identical properties in the same area code can vary significantly in their listing figures. This is primarily because of the differences in the infrastructural elements surrounding each of them, and people’s opinion of the same. Taking this into consideration should help you keep your expectations realistic.
How your home compares to others in your neighborhood will obviously influence its value. It’s thus worth researching the latter, particularly those that have been sold or appraised recently, to see if there’s anything you could take advantage of. Information about property appraisals is usually part of a public record. As such, knowing where to find it shouldn’t be much of a problem.
Properties that came up within the last 2 decades or so tend to command higher appraisal figures than their older counterparts. Still, the impact of age on the value of real estate isn’t always straightforward. A property that has a historical significance attached to it will easily sway over discerning shoppers, its age notwithstanding.
The chance you have to bump up the value of your house by renovating it is something you can’t afford to discount. Whether it’s a kitchen remodel or an expansion in your floor space, anything that can be described as a home improvement will likely add value. Obviously, the cost of a particular renovation has to be justified by the potential to recoup it through the sale.
Keep in mind that the valuation will take into consideration all the expenses incurred in upgrading your home over the course of ownership. As such, it’s crucial that you search for and organize the relevant documents beforehand. These will help you prove to the appraiser what you’ve done to improve the property.
Make sure that everything’s working like it should prior to the inspection. On that note, it’s the high time you took care of those small issues you’re always procrastinating about. Whether it’s replacing a broken light or fixing a running faucet, it’s in your best interest to fix anything that could negatively affect your home’s value.
Now that you have an upcoming valuation, it’s worth taking the effort to boost your home’s curb appeal. This may seem more relevant to staging than it is in this context, but presentation always matters. Considering that you won’t get a second chance to make a good impression, it only makes sense to work on this area now.
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