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Reply by crank49

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Posted on Home appraisals and additions/remodels values

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crank49

3433 posts in 1625 days


#1 posted 09-01-2011 12:49 AM

The appraised value of a house is BASED on appraised value of similar, nearby properties; true.

Some things don’t always add value to a house; a swiming pool, workshop are a couple that don’t.

Some things usually DO add value to a house; kitchen and bathroom update are a couple that do.

The numbers I have seen indicate you should never spend more than 10% – 15% of house value on a kitchen remodel or update if you plan to recover your investment.

Your updates need to be in line with what other homes in the area have. For example, granite countertops will not add value if every house in the area has laminate.

-- Michael :-{| “If you tell a big enough lie and tell it frequently enough, it will be believed.” ― A H


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