I've noticed lenders often rely heavily on standardized comps, so you're right to be skeptical. In my experience, clearly documenting upgrades and improvements upfront can make a noticeable difference in how they're considered. Did you find that providing detailed documentation of your property's upgrades influenced the lender's valuation significantly, or was it more about the comps themselves? Curious how this played out for others too...
In my experience, detailed documentation helped somewhat, but ultimately comps still carried more weight. Lenders seem to prefer standardized data points over subjective improvements, though clear records did help justify a slightly higher valuation...depends on the lender, honestly.
That's interesting, because when I was trying to qualify for a DSCR loan last year, I spent ages putting together detailed lists of upgrades and maintenance records. Thought it would really boost my appraisal. But in the end, the lender barely glanced at it—they were way more focused on neighborhood comps and rental income figures. Makes me wonder if there's ever a scenario where subjective improvements genuinely tip the scales, or is it always just about the numbers...?
Had a similar experience when refinancing last year. Spent weeks documenting every little upgrade—new roof, energy-efficient windows, even landscaping—but the lender barely acknowledged it. They were laser-focused on comps and rental potential. Makes me wonder if subjective improvements only matter when you're right on the edge of qualifying? Maybe they're more of a tie-breaker than a real game-changer... Has anyone actually seen personal upgrades swing the decision in their favor?
Funny you mention that—I had a client once who swore his custom-built pizza oven boosted his appraisal. Seriously, he spent half an hour explaining the artisanal bricks and imported Italian tiles. The lender barely blinked at the new HVAC, but apparently, wood-fired margherita potential was a game changer? Go figure. Honestly though, upgrades usually only tip the scales if you're borderline. Otherwise, lenders mostly stick to their spreadsheets and comps... pizza ovens notwithstanding.
