Steps to increasing the appraisal value of your house or property

Written By Steps To Faculty Published June 14th, 2010

You have just purchased a home or a piece of land. Now what? The first step a savvy investor would take is to get the property appraised and find ways to increase the appraisal value. Since you are a savvy investor, this question is already churning in the back of your mind. Like many major corporations, such as Century 21, or regular homeowners, you may want to leverage your appraised property for a loan someday or just to sell at a later date for a profit. You may qualify for a larger home loan if you take these steps. Let us take a closer look.

Step 1 Compare your home or property with others in your locale

Contact your local real estate agents and ask for a list of homes for sale in your area. Compare the number of bedrooms, basement size, and other amenities in your home with that of the houses for sale. If you can, visit some of the houses for sale to see what they have that your house does not.

Step 2 Contact a remodeling agent

If there is a discrepancy between, let say, the number of bedrooms that the houses for sale versus yours, consider adding a bedroom. Get an estimate from your local remodeling agent to see how much it would cost the remodel your home to be at par with the other houses in your area.

Step 3 Increase the size of your home

Add extra rooms or expand your desk, if applicable. Make your home more livable and more appealing to others. Imagine that you want to sell your home and make a profit. What features do you need to add to your home to get it at the same square footage or level as other homes in your area?

Step 4 Beautify

Make the outside of your property more appealing to others. If your neighbor has a flowerbed or a few trees, consider going to to see if you can add some vegetation to your home.

Remember, ask the appraiser when present to give you a maximum price, not just a sales price.

Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.