Buying & Selling Real Estate Discussion

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Tia Castle
  • Real Estate Agent
  • Sarasota, Fl
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Dinged for House Hacking on an Appraisal?

Tia Castle
  • Real Estate Agent
  • Sarasota, Fl
Posted Jan 16 2022, 17:07

I'm want to get a HELOC on my home. But I'm wondering if the appraiser will reduce my value because I changed around a couple interior walls to house hack. I made an efficiency on one side of my home with a wall dividing my living space and theirs. All within code. TIA

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Tanner Sherman
  • Real Estate Agent
  • Omaha, NE
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Tanner Sherman
  • Real Estate Agent
  • Omaha, NE
Replied Jan 16 2022, 17:17

I wouldn't expect it to have a major impact, but they could appraise it as a duplex I guess. A lot of banks are not doing full appraisals depending on the LTV.

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Bill Brandt#2 General Landlording & Rental Properties Contributor
  • Investor
  • Las Vegas, NV
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Bill Brandt#2 General Landlording & Rental Properties Contributor
  • Investor
  • Las Vegas, NV
Replied Jan 16 2022, 18:03

If they regarded it as outdated or undesirable anything is possible. If you were going to buy it tomorrow as a “normal” family of 3-5 would you offer less because of the lay out? You may very well have lowered the value of the property. 

OTH they may not care, they don’t get paid extra to care so it may slide.