6 Things to Do When Preparing for a Home Appraisal
Getting ready to sell your home is emotionally and financially stressful. There’s just no other way to say it— selling and moving aren’t pleasant! If you’re getting ready to have your home appraised, here are some things to know beforehand.
What is Your Home Really Worth?
The point of a home appraisal is for buyers to get a real estate agent’s professional opinion on the true value of the property. These opinions are unbiased and take into consideration the housing market, buying trends, location, home condition, and more. Try not to take the appraisal personally, as many of these things are out of one’s control.
Tips to Get Ready for a Home Appraisal
Fortunately, there are a few things you can control before the appraisal. If you’re stressing over your home being undervalued, this is normal for sellers. To set clear expectations for you and potential buyers, what should you do before getting it appraised?
1. Gather Home Documents
Get all the important property-related documents ready. This includes insurance, warranties, lists of repairs or new appliances, house systems you’ve replaced in the home, and tax documents. Make sure to let your real estate agent know all the major upgrades you’ve made on the property, as that can increase the value.
2. Schedule the Appraisal Early
Don’t wait until the last minute to get your property appraised. You want to allow plenty of time to clear up any necessary repairs, financial details, or suggestions from your agent. Additionally, appraisers can be booked out, so make sure to schedule your session in advance.
3. Clean Up & Improve Your Curb Appeal
Buyers typically don’t want to buy a broken down home. Tidy up as best you can, and audit your home’s curb appeal: What exterior features stand out the most? How can you add to the overall attraction of the home and make it more welcoming, if possible?
4. Make Necessary Repairs
It might be essential to make repairs on the inside or outside of your home. If there are any leaks, broken wiring, outdated appliances, or faults in the foundation (like the roof or flooring), the price is likely going to be significantly lower.
5. Consider a Warranty
Buyers tend to feel more comfortable buying a home that comes with some kind of home warranty in place. If you already have a home warranty, it can add value to your property both with the agent and future buyers. Make sure to search for the to get a reliable home warranty coverage in place.
A warranty gives buyers peace of mind because in the case that something goes wrong with the house after buying, they’ll be covered. They won’t have to invest a lot of money into sudden repairs.
6. Have Realistic Expectations
What is your neighborhood like? The location of your home affects its overall value. For example, if you live in an up-and-coming suburban area with plenty of new schools and restaurants, higher-income buyers are likely looking to move in. If your home is next to an airport or busy highway surrounded by run-down shops, the appraisal may be a bit lower than you expected.
Thinking of Selling in the Future? Improve the Value of Your Home Now
If you’re wanting to sell someday but not any time soon, you can take preventative action to ensure your home’s value remains high. Take care of your house systems and appliances with a complete home warranty. This way, if you need any repairs or major replacements, you’ll be covered and won’t need to pay out of pocket every time.
Contact Elite Home Warranty today to get the right home warranty for your home, whether selling, buying, or appraising.
Should You Get a Home Warranty for Your First Home?
Homeownership is no walk in the park, especially when you’re a first-time homebuyer. On top of a mortgage, maintenance bills, HSA, and homeowners insurance, do you really need to pay extra money for a home warranty?
If you’re wondering whether or not you should get a warranty on your new home, we’re here to help you decide for yourself.
What is a Home Warranty?
A home warranty is when a homeowner pays a warranty company an annual or monthly fee to receive discounts or coverage on repairs if anything goes wrong. This is not the same as home insurance, where disasters like fires or crime are covered. Instead, a home warranty helps cover the cost of appliances, home systems, and expensive electronics.
Home warranties cover items like:
- Washer and dryer
- Refrigerator
- Home entertainment center
- Electrical system
- Plumbing system
- Water heater
- HVAC system
Often, warranty companies provide full-house or partial-home coverage, which can get expensive if a new homeowner isn’t in a place financially to pay seemingly unnecessary costs.
Who Needs a Warranty on Their Home?
Anyone who wants an added layer of long-term financial protection can use a home warranty. Think of it this way: if your new home— which you invested a major down payment into— suddenly experiences electrical damages, it could end up costing you thousands of dollars out of pocket.
With a home warranty, you pay a smaller fee to ensure the warranty company helps you cover the repairs. Also, when you need to find a reputable electrical company to come fix your house, warranty companies usually have a list of trusted providers in your area.
Unless you feel comfortable eating the cost of potential repairs or appliance replacements in a house you buy, a home warranty is a smart option.
What Type of Home Warranty is Best?
Different home warranty companies offer different types of coverage. Some only offer complete home warranties to homeowners. Others offer warranties to homebuyers who are concerned about potential equipment or system issues upon purchasing the home.
You should find a home warranty that meets your needs and covers the items you most want to protect.
What to Know Before Buying a Home Warranty
Here are a few tips if you’re trying to find a home warranty that’s right for you:
- Always ask what the warranty covers, and how the company goes about repairing or replacing items.
- Read the terms and conditions carefully, as some companies include hidden fees that surprised homeowners later on.
- If your home is equipped with all new appliances, you might be able to find a warranty that only covers home systems.
- Learn about any limitations or pay-out agreements in your plan.
- Warranty costs may vary depending on the location, size, and age of the home.
If you’re overwhelmed with expensive warranty plans or confusing contract agreements, don’t worry. There are warranty companies that cater to new home buyers like you.
Are Home Warranties Worth It?
Getting the coverage your home needs is always worth it if you can’t afford to pay for large repairs. Accidents happen, home items get old, and home maintenance is necessary for any homeowner.
Getting a warranty that suits your needs is your best option. For this reason, Elite Home Warranty offers appliance, system, and even custom warranties to give you the coverage that gives you peace of mind. To get a free quote for your home today, reach out to the Elite team.