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haydukeii

appraisals before and after?

haydukeii
16 years ago

I'm interested in getting a HELOC to do some home improvements. The house needs lots of updates to include siding, roof, some windows, kitchen, bathroom, and flooring. (pretty much covers the whole house.)

My question is: How do I know what the max value of the house will be with all these improvements? Example: I paid 90500 for the house and the bank appraisal cam in at 132,000 after 2 yrs. Is condition of things like siding, roofing, windows, flooring, cabinets, and bathroom considered when doing an appraisal? That may sound like a silly question.

If I spend 40,000 on improvements will the house be worth around 172,000 or more(assuming the improvements are quality ones)?

Yes there are homes that sell in that $$ range around the area(rural area).

Just want to make sure I don't spend too much.

hayduke

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