A formal home appraisal is an important part of every property transaction in Toronto. As a homeowner you need to know how to get the fair market value of your property especially for taxation filing. You might also be in the process of refinancing and you need to get a good valuation for the property. Home buyers and banks also require an appraisal during any transaction that touches on real estate.
Most homeowners complain about receiving a low value during an appraisal. While some concerns are genuine, research shows that most homeowners approach this process casually which leads to such complaints. As a homeowner you must appreciate your role in sprucing up the property in order to get a high valued appraisal.
The value of your real estate appraisal in Toronto will largely determine what amount your bank is willing to give you. If you are selling with a higher appraised value, this will give you a better understanding of the best price to quote. If the quote is right you can even make a higher return by selling today.
How do you get a higher value on your real estate appraisal in the city? Here are some thoughts every homeowner should consider:
1. Enhance Curb Appeal
Most homeowners focus on the indoors and neglect the outdoors. An appraisal will not just focus on how good the floors are or the additions you have made but on the overall state of the property. An appealing front and back yard not only impresses the appraiser but also adds value to the property.
2. Clear the Clutter
While you have not yet listed the property it is important to keep it clean. By cleaning up you have to ensure everything is in its usual place. If there is an excavation going on in the backyard make sure it is covered. In essence, avoid new projects just before an appraisal.
3. Track all Updates
Have you installed a security system? Did you add a deck on the yard? All these projects should be noted down along with the cost. This list should be given to an appraiser even if they don’t ask for it.
4. Try Different House Appraisals Toronto
Most homeowners in the city think one appraisal is enough but they are wrong. Take your time to seek different opinions and compare these appraisals.
5. Do All Repairs Early
If you know there are things that need to be fixed that may affect your appraisal, it’s obviously better to take care of these things prior to the appraisal because if you need to get another house appraisals in Toronto you will have to pay twice for the service. Try to repair all faulty appliances and keep the house in the best shape.
These simple tips will help you get the highest appraised value for your property. Whether you are refinancing or working on tax issues this will always help.