Getting a home valuation can feel overwhelming, especially when you’re not sure what to expect. The truth is, a little preparation goes a long way toward ensuring you get an accurate assessment of your property’s worth.
Whether you’re selling, refinancing, or just curious about your home’s current market value, taking the right steps beforehand can make the entire process smoother and more productive.
Most of what you need to do is straightforward and doesn’t require any special skills or expensive preparations.
How Home Valuations Actually Work by Appraisal Companies
Professional appraisal companies follow a structured process when evaluating your property. They’ll examine your home’s physical condition, compare it to similar properties in your area, and consider current market trends.
This isn’t a quick walkthrough. Expect them to spend time measuring rooms, taking photos, and making detailed notes about everything from your kitchen countertops to your roof’s condition.
The appraiser will also look at recent sales of comparable homes, often called “comps”, to help determine your property’s market value. They’ll consider factors like square footage, lot size, age of the home, and unique features.
External factors matter too, such as proximity to schools, transportation, and neighborhood desirability.
Gather Your Paperwork
Having the right documents ready can significantly speed up the valuation process. Start with your property deed and any surveys you have. These help confirm property boundaries and square footage, which are crucial for accurate comparisons.
Collect records of any major improvements you’ve made:
- Receipts for kitchen or bathroom renovations
- Documentation of new roofing, siding, or windows
- Permits for additions or structural changes
- Energy efficiency upgrades like new HVAC systems or insulation
Property tax records are also valuable because they show the assessed value history and any exemptions you might have.
Make Your Home Shine
You don’t need to renovate, but you paid for your home, or what you owe on your mortgage, influences the appraised value. in its best light certainly helps. Thoroughly clean while paying special attention to areas that show wear and tear.
A fresh coat of paint in neutral colors can make rooms feel larger and more updated, but only tackle this if you have time and won’t stress about completing it perfectly. Fix obvious issues that might catch the appraiser’s attention.
Replace burnt-out light bulbs, repair leaky faucets, and ensure all doors and windows open and close properly.
What Happens During the Visit
The actual valuation typically takes one to three hours, depending on your home’s size and complexity. The appraiser will measure your home’s exterior and interior, photograph each room, and take notes about the condition of various systems and features.
They’ll check things like flooring, windows, electrical outlets, and plumbing fixtures. Feel free to point out improvements or unique features, but avoid hovering or providing too much commentary. Appraisers prefer to work methodically without interruption.
If they have specific questions about your home’s history or recent upgrades, they’ll ask.
Clear Up Common Misunderstandings
Many homeowners believe that recent online estimates represent their home’s actual market value. These automated tools can provide helpful ballpark figures, but they can’t account for your specific home’s condition, unique features, or recent improvements.
Professional appraisals consider factors that online algorithms simply can’t evaluate. Another common misconception is that the amount you paid for your home, or what you owe on your mortgage, influences the appraised value.
Appraisers focus solely on current market conditions and your home’s present condition.
