Simple upgrades like fresh paint, updated kitchens or bathrooms, landscaping, and repairing any damage can significantly boost your home’s value. Focus on improvements that provide the highest return on investment, such as curb appeal and energy efficiency.

The appraised value is a formal, data-driven estimate based on recent sales and property condition, while market value is what a buyer is willing to pay in the current market, which may fluctuate based on demand and other market conditions.

Appraisals are usually necessary during major life events like refinancing, selling, or purchasing insurance. However, if you’re staying put and curious about your home’s value, monitoring the market and online valuation such as our tool above can provide general updates.

Not all renovations guarantee a higher value. Over-customizing or adding features that aren’t typical for your neighborhood may not offer a good return. Focus on improvements that appeal to a broad range of buyers and complement the area.

Appraisers evaluate the home’s condition, size, features, and improvements, then compare it to recently sold homes in the area (known as comparables). They also consider market trends and specific location factors that affect desirability.

Yes, external factors like market downturns, changes in the local economy, and declining neighborhood conditions can negatively impact your home’s value, even if the property is well-maintained.

Yes, you can dispute an appraisal if you believe it’s inaccurate. Start by reviewing the appraisal report for any errors or omissions, such as incorrect square footage or missing upgrades. You can then gather evidence like recent comparable sales that support a higher value. Present this information to your lender or the appraiser, but keep in mind that the appraiser may not always agree to adjust the value unless there is substantial proof of a mistake.