Had a client recently who went through the reconsideration process—submitted receipts, before-and-after photos, the whole nine yards. Appraiser barely budged. It's definitely hit or miss...sometimes feels like rolling dice rather than actual math, lol.
Yeah, reconsiderations can be frustratingly subjective. I've seen similar cases where extensive renovations barely moved the needle. Sometimes it's worth waiting a bit longer for market appreciation or paying down principal to hit that 78% threshold naturally...less hassle overall.
Totally agree that reconsiderations can be hit or miss. When I refinanced last year, I thought my kitchen remodel would boost the appraisal significantly, but nope—barely budged. Honestly, appraisers seem cautious about factoring in renovations unless they're major structural upgrades. Waiting it out or just steadily paying down principal might feel slow, but at least it's predictable. Less headache than gambling on an appraisal that might disappoint you...again.
I've been wondering about this too—do appraisers even care about cosmetic upgrades like kitchens or bathrooms, or is it mostly about square footage and structural stuff? Seems like everyone says kitchens add value, but if appraisers aren't really factoring that in, what's the point? Maybe it's better to just chip away at the mortgage slowly instead of hoping renovations will speed things up. Has anyone actually had luck ditching PMI early because of home improvements, or is that just wishful thinking?
- I've wondered the same thing... seems like appraisers mostly care about comps and square footage, but I've heard of people getting PMI dropped after a kitchen remodel.
- Might depend on your local market or how outdated your original kitchen was.
- Probably worth asking around locally before committing big bucks to renovations.
