New home...major upgrades.....Cash out refi???

[Michael Orlando]

Hello folks, 

My wife and I purchased a home a little over a year ago....we made significant updates to the home and we are wondering what our options are in terms of getting the house appraised (due to the upgrades) and then potentially doing a cash out refinance to get some money out of the new equity of the home (after appraisal?)....

Here are some details:

Purchase price: $318,250.00
Conventional
Current Interest rate: 4.50000% - 
Current Balance: $313,115.87

Upgrades:
1) Remodeled both full bathrooms
2) New vinyl flooring on main floor and top floor (1,200 square feet)
3) Painted the entire house and added baseboard throughout and crown molding in some rooms
4) Fully Finished entire basement and added a 1/2 bath to the basement (basement was previously inhabitable and unfinished) 
5) Added French drain and sump pump in the new basement 

Comps in my neighborhood are $360k - $390k.

Any thoughts? We appreciate it