The thought of having your house appraised can be quite daunting. This is especially so if you have never had it done before. When you know what the appraiser will be looking at then your concerns can ease. It is also a great way to know how to be prepared for real estate appraisal Toronto. By putting in just a little effort, you will be happy to know that the value of your home can actually improve and this in turn can raise equity or boost your ROI should you be planning to sell.
- House Structure – The first thing that the appraiser will do is to look at the structure of your home. This includes looking at your foundation, roofing, and siding to figure the material used, the condition it is in and the quality of it. He or she will be looking to see if there are defects, leaks, cracks and other damage. This is the point where many prefabricated homes lose values since the quality of materials used tends to be lower than that of homes that have been built on site.
- Interior finishing – Once real estate appraisers Toronto enter the home they will be looking at the quality and materials used on the walls, flooring, the inside of your roof, quality and type of doors and windows among other things. All of these things and more contribute to the overall value of the home. If you need to make changes, you should do so on the different things that you would leave behind if you were to move out. This will mean upgrading, repairing and checking these things.
- Amenities – appraisers will consider the different amenities that are in your house and note the ones you do not have. These will include smoke detectors, baseboard heating, air conditioning, a garage that is detached from the house and more. If your home does not have one or more of these things, then it will be valued a little lower. If you have other things such as a solar system, intercom and security system or a fireplace, they will be considered as well. External amenities such as a gazebo or swimming pool are also considered.
- Remodelling and Upgrades – If you have completed any remodelling it will often positively affect the appraisal. These can include kitchen upgrades such as countertops, faucet and sink, oven, stove as well as other appliances that are built in. The same will be done in the kitchen where the toilets, showers and bathtubs among other fixtures will be checked. Be sure to have a list of what was taken out and what you replaced it with to give to the appraiser on the day he or she comes to upraise your home.
Be sure to also look into how your yard looks. The appraiser will consider your sprinkler system and your landscaping as well.
