*Cash Out Refi Value From Appraiser

[Randall Kates]

I  have a property that I am rehabbing and  I  am  considering putting in Baseboard  Electric Heat  as opposed  to HVAC for  cost cutting  but I am hesitant because I have  a feeling I  will receive a  substantially lower  appraisal from  the  Banks Appraiser, Does  anyone have  experience in this  selection ? If so  how  did  it turn out  ?  Or  am I  making  a  bigger issue than  what it may possibly be?

[Jason D.]

@Randall Kates you'll have trouble keeping tenants more than a year with electric baseboard heat in NJ. The first $400 electric bill in January will send them running for another rental.