After clicking through the forums I couldn’t find one that really fit so I apologize if this is incorrect
Hello all! I'm Chris, an investor based in CT. I'm looking to add another property to my portfolio. I'm wanted to do a HELOC and I'm running into an issue with the appraisal on my primary. It's coming in 50k lower than it did in 2016 when I purchased it. Since then I've converted part of the garage to a guest house, put on a new roof and remodeled one of the bathrooms. Why would the appraisal coming in 15% lower in todays market than 2016. Secondly, I have an office that I want to count as a bedroom to hopefully draw more favorable comps. Does anyone have a resource where I can see the clear guidelines of what constitutes a bedroom for my state?
Thank you in advance!
