All Forum Posts by: Deyu Wang

Thanks everyone for the answers! I didn't get an email and only recently realized I received some responses. Much appreciated.

I did buy the property quite a bit under market value I would say, so hopefully after the foundation repair the ARV can come up to at least market value!

I always hear about how cosmetic upgrades and adding bedrooms/bathrooms raise the ARV, but I also hear that some items do not raise the ARV.

For homes that were purchased with poor components such as a distressed pillar and post foundation, galvanized steel piping, or knob and tube electricals, does replacing them with modern components raise the ARV for a higher cash-outrefinance down the line?

For example, completely redoing a single family house's foundation can cost from 10k-30k. Changing the piping and electricals can cost 10k. Will the appraiser consider these as value-adding renovations, and if not, why?

If this helps at all, for some context this is a property in Ontario.