How do Upgrades Affect an Appraisal?

Hello and welcome to the world of real estate appraisal in sunny Gilbert, Arizona! I’m sharing insights into the impact of home upgrades and renovations on property appraisals. Let’s dive into how you can maximize your property’s value right here in the Gilbert market.

“First things first, let’s touch on the basics. Even small, basic upgrades can significantly influence an appraisal. Think of fresh paint, new fixtures, updated landscaping, and deep cleaning. These minor enhancements work wonders in presenting your home as well-cared-for, thereby positively influencing the market reaction to your home and its value.

Kitchen and Bathroom Remodeling

Let’s move on to the heart of every home – the kitchen. A modern, functional kitchen can dramatically increase your home’s value. Similarly, updated bathrooms are a big plus. However, it’s important to avoid over-improving. A $100,000 kitchen in a $300,000 neighborhood might not yield the return you’re expecting.”

Next, in the sunny state of Arizona, energy efficiency is a significant value driver. Upgrades like double-paned windows, improved insulation, and solar panels can not only reduce utility bills but also increase your home’s appeal to potential buyers, hence positively impacting its appraised value.”

Outdoor Living Spaces

In Gilbert, our warm weather and sunny skies make outdoor living spaces a big hit. Adding a well-designed patio, deck, or even a swimming pool can provide a significant boost to your home’s value. Remember, in Arizona, our backyards are an extension of our living space!” But be careful to not overprotish!

Adding Square Footage

One of the most substantial impacts on a home’s appraisal value comes from adding livable square footage. A room addition adds more space generally means a higher appraised value. However, be mindful of your neighborhood’s comparable properties, as going overboard might not give you a full return on investment. You want to stay within the size range of your neighborhood. You don’t want to be a 2500 sf house in a 1700sf neighborhood.

So there you have it! In Gilbert’s competitive real estate market, understanding the impact of upgrades on your property’s appraisal can give you the upper hand. But remember, it’s all about balance. Investing in the right areas without over-improving for your neighborhood is key.

Remember that many of the improvements may be for your enjoyment and not a financial return.

As a local appraiser, I can help guide you through the process, providing insights into what upgrades are likely to add the most value to your home, specific to Gilbert’s market. Feel free to get in touch for a personalized consultation.”

Thanks for joining us on this journey into home upgrades and their impact on property appraisals. Stay tuned for more insights into the Gilbert, Arizona real estate market!” Feel free to reach out at 480-9268528 or our contact information is listed below. This has been Diana Benson with Benson Appraisal, a Service you can trust.