As a mortgage broker in Colorado Springs, the Reichert Mortgage Team is dedicated to helping individuals and families get a home loan that is right for them. Colorado Springs is an amazing place to settle down in, which is why our team implements our core values of honesty and integrity to ensure our clients have what they need to purchase their dream homes. Whether you are purchasing your first home or are looking to refinance your home, we have the expertise and experience to help you every step of the way.
While many of our clients come to us looking for assistance with purchasing their dream homes, an essential part of what we do is help homeowners refinance their home so it is more manageable. Refinancing your home is a great way to reduce your monthly mortgage payments and shorten your payoff term. However, the first step to refinancing your home is to receive a high appraisal on your home. A good appraisal is the key to being able to qualify for the benefits of a refinanced home loan. That is why our knowledgeable team has created a guide on how to get the highest appraisal on your home.
What Is A Home Appraisal?
A home appraisal is the process of establishing the value of a home or piece of property through an unbiased, third-party individual. This individual is trained to analyze and recognize cost-defining attributes of a piece of real estate. A typical home appraisal is done by an appraiser who comes to your home, does a thorough inspection, and then creates a report using their findings and current market trends to identify the current value of your home. A home appraisal can be used to refinance or purchase a home. In both situations, the higher the appraisal value, the better. In the case of refinancing, a high appraisal value means plenty of loan options to choose from.
Get A High Home Appraisal
While some cost-defining attributes are impossible to change, such as the square footage of your home or what neighborhood it is located in, there are some manageable ways to maximize your home’s appraisal value.
1. Refer To Previous Home Appraisals
Referring to your home’s previous appraisals is a great place to start when looking for ways to increase its value. On past appraisals, you will be able to find the attributes of your home that resulted in a value decrease. Using the previous appraisal as a guide, begin to form a plan of how you will address those issues. While fixing some of the flaws may not be within financial reason, try focusing on the easier fixes that will lead to a return on your investment.
2. Make Repairs
Once you have created a list of needed repairs to your home, begin to address each issue until each one (within reason) has been fixed. You will also want to get all major functions of your home serviced, including HVAC and plumbing, to proactively eliminate any possible problems the appraiser may find. Lastly, address any damages that have occurred to your home since it’s last appraisal. This could be anything from a chip in the floor to a hole in the wall. Addressing these issues will greatly increase the appraised value of your home.
3. Invest In Curb Appeal
Appraisers don’t only take the functionality of your home into consideration, they also look at it’s curb appeal when deciding the value of your home. Investing in your home’s curb appeal is an affordable way to increase your home appraisal. Before the appraiser comes to your home, do any needed yard work such as mowing the lawn, trimming hedges, and clearing out any trash that may have gathered in your yard. To go the extra mile, consider purchasing some potted plants to put on your porch. Next, you will want to make sure your home is thoroughly cleaned and all clutter is cleared out of the way so that the appraiser can easily navigate your home. Lastly, make sure to keep your animals contained to ensure they do not interfere with the appraisal process.
Refinance Your Home With The Reichert Mortgage Team
When you work with the Reichert Mortgage Team, we use our years of experience and plethora of resources to help you with all your mortgage needs. Whether you are looking to refinance your home loan or purchase your first house, we are here to help. We will work with you to find a loan option that works best for you. Contact us today to receive expert help from one of the best mortgage companies in Colorado Springs!