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Updated almost 7 years ago,

User Stats

42
Posts
25
Votes
Justin Hayman
  • Rohnert Park, CA
25
Votes |
42
Posts

HELOC related appraisal question

Justin Hayman
  • Rohnert Park, CA
Posted

I'm currently looking into a HELOC and wonder if the community can chime in. I am specifically curious about how an appraiser might value upgrades.

In my situation, I bought a new construction home and closed on Memorial Day weekend last year.  The same model I'm in is now selling for 92k more than my purchase price.  I also added 45k in upgrades.  Since I moved in at nearly the same time as all my neighbors, we've forged a pretty tight community.  That said, I've toured everyone's house, and I added the most upgrades in my area by a good margin.

How much value will an appraiser account for in terms of the 45k in upgrades?  As I shop around from bank to bank, having this information in my back pocket will be a huge plus. 

Thanks in advance to those who chime in!

--Justin

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