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Remodeling affect appraising?

We upgraded our home about a couple years ago, finished a gorgeous remodeling job on our kitchen and renewed the bathrooms. We are thinking about moving now and we were wondering if we are going to see an increase in appraised value of our house? by HLamb_898_377 from Andover, Minnesota. Jul 31st 2012 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,072 contributions

Kitchen and bathrooms upgrades have traditionally been able to recover the cost... Unfortunately, in todays market.. It is a whole different story. Follow this link to see what it says: http://www.metzlermortgage.com/HomePriceIndex - We are based in St Paul.

Jul 31st 2012
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Peter Botros (PeterBotros)
#71 ranked lender in New York - 895 contributions

You chose the right things to spend your money on. Bathrooms and kitchens provide the easiest return on investment. Unfortunately it is very difficult to tell how strong the remodeling impact is on your value. It will depend more on comprable sales in the area.

Jul 31st 2012
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 1,839 contributions

Probably. Most improvements that update an old kitchen or bathroom will add value to the property. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Jul 31st 2012
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

Any time you do improvements it will add value to your home.. How much is determined by many factors.. Which type of materials did you use.. (Granite counters are of more value than Formica counters.. etc..) How do the other homes compare to your in your neighborhood? if most of your homes in your area are upgraded with high end improvements, you will feed of their values even if you didn't upgrade.. if the homes in your area are not all upgraded like yours, then your place would be worth more, but not by much.. The only real way to tell is to pay for an appraisal. That will take all of the guess work out of the equation.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jul 31st 2012
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Linda Wintersteen (Linda123)
#62 ranked lender in Arizona - 1,256 contributions

any remodeling upgrades do help to sell ,but unfortunately the do not add a tremendous value in the overall appraisal if you want , send me your address to yourloanpartnerforlife@live.com and i will do a property analysis free for you linda

Jul 31st 2012
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Michelle Curtis Loan Originator NMLS 401173 (EmbassyFundingLLC)
#77 ranked lender in Florida - 2,242 contributions

As others have said the upgrades will help sell your property but it probably wont affect the value of your appraisal much. The appraiser just goes by other homes with the same amount of bedrooms and bathrooms that have recently sold in your area.

Jul 31st 2012
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Sara Deere (Mortgagequeen2)
#1 ranked lender in Missouri - 597 contributions

I have to agree with the majority you have improved some key areas of a home. The overall compensation will not be great in value for today's market. One can remodel a home with the finest furnishings, but if homes just like yours recently sold within the appraisal approved guidelines your new approved appraised value will show the in the results.

Jul 31st 2012
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