Updated about 6 years ago on . Most recent reply
Adding Bathroom to Boost Re-Finance
Hello Everyone,
I bought my first home in October and I am looking to refinance in the future in order to help fund my next purchase. My current home is a 3/1 and it seemed like the previous owner was turning a large closet into another bathroom but stopped. Ideally, I would like to add a full bath and have my home appraised as a 3/2 and use the added cash-out towards my next home. The room where the bathroom will be is close to the plumbing from my kitchen and laundry room. Also my house is on a crawl space and the access to plumbing is easy. In your experiences, is the added value worth the investment? What are potential hurdles I may encounter with lenders, appraisers, etc?
Thank you!
-Joe