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Updated about 3 years ago on . Most recent reply

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Bedroom count on Appraisal.

Posted

After clicking through the forums I couldn’t find one that really fit so I apologize if this is incorrect  

Hello all! I'm Chris, an investor based in CT. I'm looking to add another property to my portfolio. I'm wanted to do a HELOC and I'm running into an issue with the appraisal on my primary. It's coming in 50k lower than it did in 2016 when I purchased it. Since then I've converted part of the garage to a guest house, put on a new roof and remodeled one of the bathrooms. Why would the appraisal coming in 15% lower in todays market than 2016. Secondly, I have an office that I want to count as a bedroom to hopefully draw more favorable comps. Does anyone have a resource where I can see the clear guidelines of what constitutes a bedroom for my state?


Thank you in advance!

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