ARV

[Brady Lee]

We have a potential house that we are looking at, it's priced at $270k. It's very dated but functional. The kitchen is extremely dated with a small dining area attached, we would knock out the wall between the kitchen and the living room, add an island and some cabinet space, but this would give it an open concept. It would make the house flow much better. One of the bathrooms is in decent condition but we would add a double vanity and then completely rehab the 2nd bathroom. We would replace flooring, take off the wallpaper and repaint the house. 

My question is would this add that much value to the house? Or would it not because it's in livable condition. How can we estimate the ARV?

We are looking at buying it to live in and rehab it while we live there, however we're just unsure if it would really be profitable or not. 

I would really appreciate any advice, from people here in Utah or anywhere that have had similar experiences. Thanks

[Agi Anderson]

I am a broker and I am able to do and RPR Value Report which allows for adjustments. Align yourself with a Realtor in your area that can do RPR, it's a national based program through NAR. It's VERY important to be accurate with the ARV. You want to avoid over improving.