The proximity of your home to grocery stores, public transportation, schools and restaurants can have a major impact on its appraised value. Generally speaking, the higher the market value of your location, the higher your appraised value will be. Making improvements to your property's exterior, such as installing a new front door, garage door, and improving the driveway, can significantly increase the valuation. Updating the siding of your home is also a great way to boost its appraisal value, especially if it was previously in poor condition.
The features of your neighborhood can either increase or decrease the appraised value of your home. For instance, if your house is located near a lake, pond, ocean, or has access to the beach, these features will all add to its appraised value. Neighborhood services such as parks, play areas, bike trails and other amenities can also increase appraisal values. On the other hand, unwanted features such as industrial facilities, landfills, power plants and other developments can reduce valuation values.
If you want to increase your appraised value, make sure that any renovations you make throughout the process give you a boost. Bathrooms and kitchens offer the highest returns on investment in terms of renovation, followed by improvements made above ground. Finished basements are nice but they rarely add significant value to a home. To do that, you'll have to keep the renovations at ground level or higher.
If you don't have the budget for a complete renovation, you can still add some value and make a positive impression with simpler tasks such as remaking old grout and replacing frosted glass shower doors with clear glass.
