How Important is Immediate Equity?

[Christopher Redden]

Hi,

I'm about to close on my first property on Friday. It is a duplex that I will be house hacking. The appraisal on the property came back at exactly the purchase value, though I believe it is worth a bit more. My question is how concerned should I be about this? Should I be fighting for a higher appraised value in an attempt to gain instant equity, or should I wait to achieve this better ltv through repairs, appreciation, and refinancing. I know that a higher home value will lead to higher property taxes. Any help with this would be appreciated.

Thanks

Chris