In my 35 years as an appraiser operating in Amarillo, Texas, there’s one question I always hear from homeowners: how can I improve my house to get a better appraisal? Are there any tricks I should know about?
While I wouldn’t characterize these tips as “tricks” (we’re not gaming the system), there are certain home improvement projects which yield a greater return on investment, or ROI. Similarly, there are projects that simply aren’t worth it. I’m sharing both, so you can achieve the appraisal you want.
Projects with the Best ROI
In general, bringing your home up to community standards is well worth it. If your property is more of a fixer-upper, fix it up! Paint the walls neutral colors, address any structural problems, and make sure all the plumbing and electricity are in proper working order.
Kitchens and bathrooms are two places you might want to concentrate your efforts. Adding new fixtures in these areas tend to pay off.
Projects with the Worst ROI
You shouldn’t improve your home well beyond community norms—the appraisal isn’t likely to move much, but you’ll have sunk lots of money into it. You may want to be wary of adding swimming pools, garages, and sunrooms.
Document Your Improvements
Be sure to keep a record of your improvement projects for the appraiser to review. This will help your appraiser see the quality of what you’ve done, instead of leaving it up to guesswork.
If you need any more advice, feel free to contact me for expert appraisal consulting or for a pre-sales appraisal for your Amarillo TX area home.