When refinancing your home, banks are serious about only giving you what it’s worth. To do that, they send out an expert to perform an appraisal that defines your home value.
You want them to generate a figure as high as possible as it will maximize your equity. You can then rest assured that the refinance process will go through smoothly and potentially skip the need for private mortgage insurance (PMI).
Here’s the great part: there are plenty of things you, as the homeowner, can do to influence the results of your home value. To get started, use these tips below to prepare your home for a refinance appraisal.
Check Your Safety Equipment
Safety always comes first — and that goes double during your refinance appraisal. You don’t want to get penalized for a lack of important equipment, such as:
- Smoke alarms
- Carbon monoxide detectors
- Seismic strap on the water heater
- Fence around the pool
To figure out what safety items need to be in place and fully functional, check with your lender and your state laws.
Make a List of Recent Improvements
Your home has likely changed a lot since you first moved in. To get credit for all the things you’ve updated and repaired, make a list of all the improvements you’ve completed. While doing that, lookout for items that need attention and plan to have them fixed before the refinance appraisal.
Use Furniture and Décor to Your Advantage
With the right furniture and décor in place, you can make a great first impression and that’ll go a long way in getting the highest home value. Your interior design will help the appraiser see your home in the best light, helping them better determine what it might go for on the current market. Here’s what to do.
Artfully Arrange Large Pieces of Furniture
You’ll want to artfully arrange your large pieces of furniture to make the most of each room. Use the pieces sparingly, so each space looks as big and open as possible. Balance that by adding enough furniture to ensure the rooms still look cozy and homey.
Add Color and Texture in the Right Spots
Using the room design and furniture as your canvas, add color and texture to each room. Items that can dress up the place include:
- Throw blankets
- Coffee table books
Focus on using complementary colors to set the tone, then infuse pops of contrast where they will make the biggest impact. Layer that with interesting textures to create your ideal look.
Once you’re satisfied with how the interior space looks, direct your attention outside.
Don’t Forget the Lawn and Garden
If you really want to make a great first impression, start from the second the appraiser steps out of their vehicle. You want them to gaze upon an immaculate lawn and garden that’s framed by welcoming décor. It’s also important to wash the siding, windows, and all walkways, including the driveway.
Get the Best Results with Creative Home Stagers
You only have one shot at showing your home in the best light and getting the highest value on your refinance appraisal. To avoid missing the mark, you can get a professional touch by hiring Creative Home Stagers to maximize the potential of your home. Just call 704-315-5802 to set up a consultation appointment and start discussing how to best prepare your home for the upcoming appraisal.