The Appraisal process around kitchens & Bathrooms
I guess it's well known that a good kitchen and bathrooms go a long way.
I'm wanting to understand the criteria that a property appraiser will use to evaluate the kitchen?
Some Context: My wife and I have bought our first Non-investment property. But we have an aunt that has some equity in it and would like to finance her out. The kitchen is very small but we have the opportunity to make it open-plan with a small island.
how I see it,
1. Fix up the kitchen
2. Property appraises higher
3. Extend our mortgage and finance our aunt.