If you’re thinking about selling your home or refinancing your loan, you’ll be required to get an appraisal. An appraisal is a rough estimate of how much your home is worth. A higher appraisal value means more equity in your home and a higher final selling price.
Taking the time to do some renovations before your appraisal can increase your home’s value. However, only permanent upgrades contribute to your appraisal value. Let’s take a look at three upgrades you can make to your home that will contribute to your home’s value:
- Adding a pool. There’s nothing more refreshing than taking a dip in a backyard pool during the summer! Adding a pool or spa to your home increases your appraisal value significantly.
- Installing a home security system. Home security systems are rising in popularity — and adding one to your home can increase your home value. However, remember that only permanent systems count towards your appraisal value. If you have a removable system (like a Nest camera), you won’t see an increase.
- Replacing your windows with a greener model. Energy-saving upgrades are an asset to any type of property. Investing in Enviro-Star replacement windows in South Jersey can increase your home value.
These are just a few examples of features that will improve your home’s value. As a general rule, any type of permanent upgrade you make to your home will contribute to a higher appraisal value.
But not every upgrade you make will contribute to your home’s value. The following are three examples of upgrades that won’t make a difference in your appraisal value.
- Aesthetic choices. Purely aesthetic choices (like paint color and lighting placement) won’t affect your home value.
- Removable upgrades. Upgrades need to be permanent home features if you want them to contribute to your home’s value. If you can take your upgrade with you when you when you move, your appraiser won’t consider it when they assign your home’s value.
- Repairs. Standard, routine repairs (like unclogging a toilet or plunging a sink) don’t increase your home value. However, major breakdowns (like a non-functional HVAC system) can significantly decrease your appraisal value.
Are you thinking about selling your home or refinancing? New Window Factory Sales is your one-stop-shop for everything you need to improve your home! From gutter repairs to replacement windows in Camden County, we do it all. Give our team a call today at 856-546-1120 to claim your free quote!