How to Increase Home Value for an Appraisal
Whether you’re thinking about selling your home, borrowing from your home equity, or canceling private mortgage insurance (PMI), it’s worth considering how to increase home value for an appraisal.
While you can’t control every aspect of how your home is valued, properly preparing for a home appraisal can assist in making sure credit is given where due.
If you’re selling your home to a buyer prequalified for a home loan, it’s important to prepare for the appraisal. This step will be required before closing to determine the amount of money a lender is willing to provide.
Home values across the nation increased by an average of 19% alone in 2021, with an additional increase of 5.5% in 2023. This may encourage homeowners to put a portion of their equity gains toward a remodeling project in the near future, but they’ll need an appraisal to obtain a home equity loan or take out a home equity line of credit (HELOC).
Let’s take a closer look at what you can do to increase your home’s appraised value, including light-lift projects as well as larger investments.
Start with a free online home value estimate
An easy step to take before an official appraisal is to look up your home’s estimated value using a free online home valuation tool like HomeLight’s Home Value Estimator (HVE).
Our HVE combs public data, including tax records and assessments, and pulls recent sales records for other properties in your neighborhood. Using a short questionnaire, we also factor in specifics about your home, such as the property type and described condition.
Input your address, and we’ll provide you with a preliminary home value estimate in under two minutes. Although it’s not a substitute for an appraisal, an online home value estimator is a helpful starting point to orient yourself in the appraisal process.
Option to increase value for appraisal
Estimated value added in 2024*
Landscaping upgrade
$7,312
Install new garage door
$8,751
Paint home exterior
$7,571
Update kitchen (midrange)
$26,406
Update bathrooms (midrange)
$18,613
Make minor repairs as needed
Reduces appraisal report value deductions
Sources: HomeLight’s Top Agent Insights for Spring 2023, HomeLight’s Top Agent Insights for New Year 2022, Remodeling Magazine 2024 Cost vs. Value Report
*The value of these improvements can depend on your individual property, location, and other factors. These estimates are not a guarantee of appraised value and have been collected for educational purposes only.
