Value added refinance?

[William Acker]

Thinking of purchasing a home to live in and rehab, add some sq ft via basement. I then want to refi at a higher price and hopefully regain some capital from down payment/ rehab. Is this something that is possible? Similar to the BRRRR but not the rent part. Do you need the rent to gain on the appraisal or is value added in rehab/ and sq ft enough to change the appraisal?