How to add $15k of value?
Bought our first home 2 months ago, we got a good price and decided to do just 10% and keep the additional $ for emergencies and upgrades then have the home reappraised a year later to remove PMI (extra $100 a month)
Home is currently appraised at $415k. Our mortgage will be about $365k next year. The town we live in has a median home price of $485k and has averaged an appreciation rate of about 3% the last 3 years (I'm not banking on this and just hope for 2% next year).
Our initial appraisal mentions the carpet on the steps and in the bedrooms being in bad shape, and the downstairs and upstairs guest bathrooms not being updated (house is only 11 years old).
So my thought is to replace the carpet in the bedrooms, have the steps done in hardwood to match downstairs, and sinking about $1500 into each bathroom for new floors and vanities (currently vinyl and cheap contractor stuff). I'm DIY so I figure this is about $7k of work. Do you think that's enough to get the value up another $15k, which is what we'll need figuring a 2% appreciation to get to 20%.
Any other simple DIY suggestions, little tips or tricks? For example the lawn was pretty ugly when original appraisal was done, I know that's not a factor, but we're taking steps now to be sure its green and full for that first impression.