Steps to Renovate/Reappraise

[Peter Davies]

I have a house that I live in the lower level (rent upstairs) which has a carport.  I'm looking at having this converted to a additional bedroom/bathroom.  I'd like to recapture the expenses for the project.  What's the best approach, get a pre-appraisal, build bedroom, and then do a post appraisal so that I can pull the cash out on a refinance?

Appreciate insight