How to Prepare for a Home Appraisal

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home appraisal
Image via Benchmark Federal Credit Union.
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In a hot seller’s market where bidding wars can drive up home prices, it’s more important than ever that you get the best value for your home appraisal.

If you’re selling or refinancing your house, an appraisal is necessary for financing or refinancing purposes, providing lenders with an accurate picture of the home’s worth. While an appraisal is an unbiased estimate of the true market value of a home, you’ll want to put your home’s best face forward. From your financial partners at Benchmark Federal Credit Union, here are the best ways to prepare for a home appraisal:

What home appraisers look for

  • Property size: This includes square footage, the number and types of rooms, as well as outdoor space.
  • Interior condition: In addition to general appearance, plumbing, electrical systems and HVAC will be checked.
  • Exterior condition: In addition to appearance, an appraiser will check the condition of the roof, foundation and exterior walls/siding.
  • Home improvements: Any work done on the house to improve the condition/value will be considered. This might include new flooring, central air or a kitchen remodel.
  • The appraiser will also consider current housing market values, as well as homes that recently sold in in the nearby area.

10 tips to better prepare for appraisal of your home

  1. Take a walk-around tour of the interior and exterior of your home. Take note of things that need to be repaired or improved. Be critical, with an eye out for damage or disrepair. Make a list of quick fixes and other repairs.
  2. Make any minor repairs and address cosmetic issues as needed. This might include leaky faucets, loose carpeting, a missing handrail, missing light fixtures, loose floorboards or gutter cleaning.
  3. Clean your home and clear it of all clutter, inside and out. Power wash the exterior if needed.
  4. Improve the look of the interior inexpensively with a fresh coat of paint where needed. Make other minor enhancements, which might include new hardware for cabinets or replacing a section of damaged flooring.
  5. Improve the curb appeal of your home by trimming bushes and trees, mowing the lawn, weeding flower beds and adding some flowers.
  6. Be sure everything is in proper working order. This includes HVAC, appliances and all safety equipment, such as smoke alarms and a security system if you have one.
  7. Share any home improvements and upgrades you’ve made with the appraiser. This might include a new roof, new windows, new HVAC, and kitchen or bath remodel. Provide the appraiser with a detailed list.
  8. Be available when the appraiser is on-site to answer any questions.
  9. Keep your pets in a separate area while the appraiser is inspecting your home.
  10. Provide easy access to all areas of the home. Turn on lights and open doors.

Home loans for every need

Whether you’re buying a new home, refinancing or looking to tap into the equity in your home for an improvement project, Benchmark Federal Credit Union has a loan to fit your needs. Go to www.BenchmarkFCU.org to learn more about Benchmark Mortgages and Mortgage Refinancing, our low-rate Ultimate HELOC or our Fixed Rate Home Equity Loans. We provide our members with financial solutions for life’s benchmarks.

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Rebecca Worthington is the Vice President of Community Relations at Benchmark Federal Credit Union. The only federal credit union to exclusively serve Chester County, Benchmark was named Business of the Year by the Greater West Chester Chamber of Commerce and honored with the 2021 Corporate Partner Award by The Arc of Chester County. For more information on credit union eligibility and protecting your financial well-being, visit BenchmarkFCU.org.

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