Investor · Litchfield Park, AZ · Member since 2014 · 10 posts · 6 votes
I'm looking for someone to come appraise my house so I can pull out the equity. Specifically, I'm looking for someone that I can talk to and ask questions about what changes I can make to the property to increase it's value.
Not all upgrades are the same – nor are they worth the same in the eyes of an appraiser. For example, a brand-new HVAC system will most likely be able to get a dollar-for-dollar reflection in the appraisal. If you already have a swamp cooler: definitely install the new HVAC system but keep the swamp cooler, also.
Another dollar-for-dollar upgrade is a garage. This applies either to the costs for enclosing a carport or building an entirely new garage onto the property itself. We’re a car culture, and the appraisers know it.
Here are some other upgrade items that generally fetch consideration from an appraiser in the ballpark of $.30 to $.50 on each dollar spent: