Appraisals for HELOC

[Mark Costa]

Hello BP,

I wasn't sure where to ask this question, but I am guessing someone here can help me. We've applied for a HELOC and our appraisal came in less than expected. The appraiser may have underestimated the square footage of the house, but not by much. However, the appraisers did miss 1 bedroom and a wood burning stove. Plus, we have done some upgrades on the house, including a refinished walkout basement and a kitchen redo.

To get to the point, to what extent does the 4th bedroom and a wood burning stove add to the value of a home in Central New York? We are looking at the difference between a 3 and 4 bedroom, and a house with a fireplace versus a house with a fireplace and woodburning stove. I am trying to determine whether the walkthrough is worth the cost. 

Thank you.