What aspects of a rehab actually increase an appraisal?

[Michael Mackney]

Hey guys, I currently have one duplex for a few months now, so I'm still relatively new. I am thinking of rehabbing my property soon which would include mostly cosmetic touches (paint, new floors, touch up the bathrooms, etc) to get it in line with market rent. 

A question I have is, will these cosmetic touches increase the appraisal value of the home if I ever wanted to refinance or pull out some line of credit? Or does it simply just give it more curb appeal for other buyers/renters? 

Let me know, thanks! 

[Scott E.]

Some things that will add value on the appraisal are:

-Additional square footage compared to comps

-Additional bedrooms compared to comps

-Additional bathrooms compared to comps

-Additional parking spaces / garage stalls compared to comps

-Remodeled kitchen

-Remodeled bathrooms

-Swimming pool vs no swimming pool

-Larger lot size compared to comps

Remember that appraisers are just people with opinions. So if you have a house that's nicely fixed up, well lit, tidy, and furnished, it will probably appraiser higher than the exact same house that is dark and dusty and gross. There is nothing on their report can quantify this, but it's the reality.