What to Do and NOT for home appraisal

[Steven Foster Wilson]

For many using the BRRRR strategy or just looking to get the best price for a selling home, the appraisal is critical. I am getting my duplex appraised in 3 months and I am preparing. I have spent hours on the phone with a local appraising office asking these questions and what I should do renovation wise. This is what I've come up with. This is a start to what brings in the $ and what does not:

DO:

• Kitchen Updates
• Bathroom Updates
• Adding Bedrooms
• Adding Bathrooms
• minor exterior touch ups
• deep clean

DO NOT

• Exterior landscape work (pools)
• Replacing a roof
• painting
• install new wood flooring
• update water heater and HVAC

Someone with experience please add, deny, or affirm any of these. 

[Dan Weber]

@Steven Foster Wilson Ask your real estate agent to put together a favorable CMA (Comparative Market Analysis) for your property. At some point during your walk through with the appraiser, give him that CMA. Explain to him that those are some similar properties that you found and that you hope that is helpful. I have gotten some really awful appraisals where the appraiser was using single families and condos as comps for my duplex. They included properties in other towns as well. It was a nightmare. Save yourself the headache and help them do their job, make it as easy on them as possible.