That’s because the FHA won’t offer you a loan to close on a house if it requires certain repairs. If you’re hoping to secure an FHA loan, your checklist will be a little different. Functional air conditioning, electricity, and waterĪgain, what you should actually address depends entirely on your budget, but go through this checklist before a formal appraisal to avoid any surprises.Foundation free of water intrusion or damage.A roof that’s free of any leaks or damage.Most importantly, make sure your house conforms to this home appraisal checklist: Replacing old carpet or outdated amenities might improve your appraiser’s opinion. Renovations that hide your home’s age can be a wise investment, too. Fix leaky faucets, broken windows and cracked ceilings.” “Appraisers often value houses in $500 increments, so if there’s a repair over $500 that can or should be made, do it. If at all possible, you will want to make those fixes before you list your house for sale, so you can price it higher. The most important items on any home appraisal checklist are those that require repairs. They will also take note of all of your appliances and verify they’re all in working condition.Īn appraiser will consider any upgrades you’ve made, too, whether it’s to something like a built-in appliance or your entire basement. Although it won’t contribute to the square footage of your home, they’ll inspect your garage, as well. Inside your home, an appraiser will confirm the numbers of bedrooms and bathrooms in your house. They’ll also look for any exterior features that would boost its value (e.g. If your home was built before 1979, this will include looking for peeling paint and checking to see if it was made with lead. The appraiser will look for any issues that would drop your home’s resale value. The Exterior AppraisalĪ good example of a feature you can’t influence but will most certainly matter to the value of your home is the size of your lot.Īs we already touched on, the condition of your property will also come into play. So, while some factors will be completely out of your hands, it’s worth knowing what the appraiser will look at. What Does an Appraiser Look for?Īgain, it makes sense that you’d want to prepare your home before an appraisal. As those kinds of housekeeping issues wouldn’t come up in a sale, they won’t come up in an appraisal, either. While it never hurts to tidy up, some homeowners worry that the odd dirty dish in the sink or a child’s unmade bed will unfavorably tip the scales.Īn appraisal is all about how much your home could potentially go for if sold in its current condition. It’s not an inspection of your home’s upkeep. Third, understand what a home appraisal is not
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