House Appraisal Question

[Rebecca Tong]

I had a question about house appraisals. My home has a backyard, small little garden. Currently there’s nothing growing but if I paved it, would it lower my home appraisal? Thanks in advance! 

[Andrew Garcia]

Hi @Rebecca Tong, it would depend on the neighborhood. Some neighborhoods value finished backyards. Others value greenery.

I would contact a local real estate agent familiar with your neighborhood to determine the answer.

Hope this helps! Let me know if I can be of any assistance.

[Ecaterina Katerina Morosan]

Hi Rebecca,

Paving your backyard may be a good decision, but it needs to be done with a professional team. One of my clients in NYC backed out of a deal because the backyard 1. was paved incorrectly causing leaking and water sewage issues and 2. was looking like a cement jungle with the brownstones and fences around it. You might want to run a CMA and see the current trends in the area.

[Christian Ehlers]

@Rebecca Tong are you planning to refinance the property, looking to sell it, or considering selling it years in the future? Definitely talk to a local agent if planning to sell it, as paving over a backyard may not be worth the investment you put into it, unless that's what you would like to do to enjoy the property more while you live there. If planning to sell it more important than even the appraisal is if a buyer will want to pay more or less for the house because of it. Many buyers want a yard, but I don't know your area..

[Andrew Postell]

@Rebecca Tong yeah, this is ALL about comps.  So what do other comparable properties in your area show?  And as mentioned above, a real estate agent can run a report for you and provide advice on this topic free of charge.  Of course we want you to continue to read and post here on Bigger Pockets but sometimes the right answer is from a local expert.  Hope all of that makes sense.