"Didn't skyrocket the value overnight, but it definitely helped inch them closer to ditching PMI sooner rather than later..."
That's encouraging to hear, but realistically, how big do upgrades need to be before an appraiser seriously bumps up your home's value? Like, would smaller projects—say flooring or appliances—even move the needle noticeably?
In my experience, smaller upgrades like flooring or appliances rarely make a significant impact individually. Appraisers typically look at comparable sales and overall market conditions first, then factor in major improvements—think kitchen remodels, bathrooms, adding square footage, or structural enhancements. While fresh flooring or new appliances can certainly boost buyer appeal (and maybe speed up a sale), they're unlikely to drastically shift appraisal numbers on their own.
That said, cumulative smaller updates can sometimes tip the scales if your home was previously outdated or poorly maintained. But realistically, it's usually the bigger-ticket items that move the needle significantly enough to help ditch PMI early.
Curious though...has anyone here successfully gotten rid of PMI after just minor cosmetic upgrades? Would love to hear how that played out.
"Curious though...has anyone here successfully gotten rid of PMI after just minor cosmetic upgrades?"
Honestly, I've rarely seen minor upgrades alone swing the appraisal enough to drop PMI. Had a client recently who refreshed paint and flooring—it helped buyer interest, but appraisal-wise? Didn't budge much. Still, every bit helps...
In my experience, cosmetic updates alone rarely move the needle enough to ditch PMI. Appraisers tend to focus more on structural improvements or significant upgrades (like kitchens or baths). Minor stuff helps curb appeal, sure...but doesn't usually boost appraisal numbers significantly.
"Minor stuff helps curb appeal, sure...but doesn't usually boost appraisal numbers significantly."
Yeah, totally agree with this. Had a client once who put a ton into landscaping and fresh paint, thinking it'd bump the appraisal enough to drop PMI. Appraiser barely budged...but when they redid their outdated bathroom, that's when we saw real movement.
