To have a house appraised.

Why get your house appraised?

There are several reasons why you might want to have a property appraised. Here are a few:

• Selling your home: When you decide to sell a property, it’s useful to have a clear understanding of its value. This allows you to set the most suitable price for the market and justify the selling price based on an independently determined value. While having your house appraised before selling is not mandatory, it can also be done by a real estate agent.
• Obtaining a mortgage: Most lenders require an independent appraisal report to be made in order to obtain a mortgage on a property. Lenders typically won’t approve your mortgage application if they don’t have a clear idea of the home’s value. An appraisal is also required for a new mortgage on your existing home, which can be useful if you want to borrow at a lower interest rate.
• Buying a house: You can not only have your own home appraised, but also a house you might be interested in purchasing. Based on a good appraisal report, you can determine the amount of your offer. However, we recommend having the property appraised only after you’re certain you want to buy it. If you decide to withdraw from the purchase, for any reason, you will have spent money on an appraisal.
• House renovation: After completing a (major) renovation, it’s useful to have the house appraised again. The value may increase as a result, which can affect insurance coverage. The appraisal can also be important for obtaining additional financing for the renovation.
  Lowering your mortgage interest rate: If the value of the home is significantly higher than the outstanding mortgage amount, you may move into a lower risk category. This could lead to a reduced interest rate, saving you hundreds of euros.”