Avoid Low Valuations: 4 Factors that Negatively Affect Your Home Appraisal

Mon, Apr 04, 2022 at 11:10AM

Avoid Low Valuations: 4 Factors that Negatively Affect Your Home Appraisal

Even if you’ve taken good care of your property, it’s natural to feel some trepidation when it comes to appraising homes in Asheville, North Carolina. You just never know what the appraiser will find and how it will impact your home’s value and your ability to sell. 

It helps to know the following four factors that are most likely to negatively impact valuation so that you can address them before an appraisal. 

1. Deferred Maintenance

A home represents the greatest personal asset for many adults, but that doesn’t mean everyone exhibits the same level of responsibility when it comes to protecting their investment with regular maintenance

If you have put off a roof replacement, let a mold problem get out of hand, or simply stopped noticing chips and cracks in paint, it could cost you when the appraiser comes to call. If you want to improve resale value, boost appeal to buyers, and avoid offering allowances for repairs, it's best to address deferred maintenance before listing your home. 

2. Sketchy Curb Appeal

As the saying goes, you don’t get a second chance to make a first impression, so your curb appeal needs to be on point. Take care of issues like rot or pest damage, peeling paint, damaged or outdated fixtures, a crumbling driveway, or a patchy lawn and overgrown landscaping well before you list your home. 

3. Structural Issues

Cracked foundations, crumbling bricks, sloping floors, gaps around windows and doors, and a sagging, leaky roof are just a few of the structural issues you may encounter in older homes, and buyers will not find them attractive. You’ll also get dinged by appraisers for structural concerns. 

4. Interior Design

First impressions are important, but no amount of upscale curb appeal can save you if your interior is a virtual time capsule or your space is crammed with too many personal accouterments. As much as possible, you need to update your home and remove yourself from the equation.

If you have the money for major kitchen or bathroom remodeling, you’ll not only enjoy a higher valuation, but you could also see a great return on investment when you sell. 

You might even spruce the place up with new paint and flooring (preferably in trending neutrals). This won’t necessarily boost your home’s appraisal value much, but it will show better and appeal to more buyers. 

Don’t forget to remove personal items (family photos, tchotchkes, etc.), thin out furniture and accessories, and stage your interior to make it look attractive, spacious, and inviting, so buyers can imagine themselves in the home. Again, this won’t necessarily affect value, but it definitely helps with visual appeal. 

Other Factors that Impact the Value of Homes in Asheville, North Carolina

Although these are the most common factors when it comes to the impact on your home appraisal, there are, of course, several other things that could potentially affect your valuation. Some of them, like the location of your property, are simply beyond your control. 

Other factors, like comparable properties, might seem to be out of your hands, but you could hedge your bets by being flexible with your listing date to capitalize on the most advantageous market conditions. 

Issues like home size, interior layout, or inadequate storage could be addressed with renovations. You’ll just have to crunch some numbers and see if upgrades are worthwhile. 

Bookmark & Share

User Comments

Be the first to comment on this post below!