How to Prepare for Residential Appraisals

Understanding the actual market value of your home is crucial whether you’re planning to sell, refinance, or apply for a loan using your property as collateral. To ensure accuracy and reliability, it’s essential to obtain certified residential appraisals conducted by a team of professional appraisers in Toronto.

But remember: The secret to a stellar appraisal isn’t just in the hands of the appraisal company. It’s equally important that you adequately prepare your property before their visit. So how can you set the stage for success? Here are some top tips to prime your property ahead of the appraisal firm’s arrival:

1. Gather important documents.

Prepare all the relevant documents and details that can help the appraisal company determine the value of your property, including the following:

• A list of improvements you have made in your home in the last 15 years, with the costs and their completion date.
• Floorplans and/or a survey of your property.
• Previous and current home inspection reports.
• Copies of previous appraisals, if any.
• Regular maintenance schedule, costs, fee increase history, etc.
• Easements and encroachments
• Any non-permitted additions
• Known data inconsistencies
• Your realtor’s comparative market analysis

2. Tidy up and address important repairs.

A tidy, well-maintained home can positively impact your residential appraisal. Ensure your home is clean and free of clutter, making it easy for the appraisers to access all rooms. For more significant repairs, obtain estimates before proceeding. Consider the “$500 rule” and prioritize repairs that won’t exceed this cost.

3. Check your home’s safety features.

Before calling an appraisal company, ensure that safety features like smoke detectors and carbon monoxide detectors are functional. Check that all appliances, security systems, water heaters, and other installations are working properly.

4. Don’t overlook the exterior

A well-kept exterior can also enhance your home’s value. Clean up your garden, repair broken gutters, replace outdated address numbers and fixtures, and mow the lawn. If possible, invest in some landscaping or add flowers to enhance your home’s curb appeal.

Do you need residential appraisals?

Appraisal Hub Inc. is a comprehensive appraisal firm offering its appraisal services across Greater Toronto and the neighboring areas. These include Markham, Vaughan, Toronto, Mississauga, Brampton, Oshawa, and several others. Get in touch now to make an appointment.