Strategies To Increase The Appraisal Value Of Your Home
When you are selling a home in Grenada an appraisal is likely to be part of the process. The job of the appraiser is to determine what your home is worth on the current market, which may be a very different number from what you paid for it.
If you’re fortunate, your home will have risen in value during the time you’ve lived there, making selling it a profitable move. But, if the appraiser puts a lower value on your home, as was common during the recent real-estate slump (which also affected the Caribbean and Grenada), you could have trouble recouping your money when you finally sell.
Appraisers look at a wide range of factors such as your home’s square footage (Size), building materials, furnishes, amenities, and current condition. Then they research comparable properties that have recently been sold in your area to determine a market value for your own. For example, if a house has recently been sold in Lance Aux Epines for $2.5 M, within a reasonable time frame and your property matches it in the aforementioned values then your home will most likely be priced within that range.
Here are some tips to consider that will increase the value of your home in Grenada:
*Exterior
The outside of your home should be neat and free of clutter. Landscaping adds to the overall appearance of your home. A painted house needs to be as solid as possible, so if your home has peeling or graying paint, be sure to repaint it before the appraisal.
*Interior
The interior of your home needs to be tidy, organized, and clean for the appointment. The appraiser is going to make the judgment on your home on that day and will consider the immediate appearance inside. Pet and smoke odors negatively impact this evaluation, so take steps to eliminate these smells in order to raise the appraisal value. If there are any special features of your home that you want the appraiser to consider, make sure he can easily access those areas.
*Remodeling
Remodeling and updating increase your home’s overall value. Appraisers typically consider the kitchen and bathrooms as focal points in the home, so updating your cabinets, sinks or fixtures can improve the appraisal. Repaint any rooms that have a peeling or fading look. Also if you have started any home improvements or repairs, make sure they are completed before the appraisal. These projects need to be finished in order to be included in the report.
