You're spot-on about appraisals being tricky. When we refinanced last year, we thought our fresh paint job and new fixtures would bump up the appraisal noticeably...nope, barely budged. Turns out appraisers care way more about structural stuff, roof age, HVAC condition, and comparable homes nearby. Cosmetic updates are nice for attracting buyers, but they rarely boost appraisal numbers significantly. If you're looking at fixer-uppers, I'd say focus on solid bones first—cosmetics can always be tackled gradually later on.
We learned this the hard way too. My husband spent weeks putting in new flooring thinking it'd boost our appraisal...and it barely made a dent. 😂 Turns out appraisers aren't as impressed by that gorgeous laminate as we were, lol. But you're totally right—good bones are key. We eventually upgraded our HVAC system and replaced some sketchy old wiring, and THAT actually made a difference. Lesson learned: pretty stuff is nice, but boring stuff pays off.
"Turns out appraisers aren't as impressed by that gorgeous laminate as we were, lol."
Haha, true, but have you considered the neighborhood factor? Sometimes cosmetic upgrades like flooring can matter more if they're matching or exceeding what's typical in your area... Did your appraiser mention comparables at all?
"Did your appraiser mention comparables at all?"
Yeah, that's a good point about comparables. I've noticed appraisers tend to focus heavily on recent sales nearby rather than specific upgrades like flooring. When we renovated our last property, I thought the quartz countertops would boost the appraisal significantly... turns out it barely moved the needle because most homes around us had granite or similar anyway. Did your appraiser give you any hints about what upgrades might actually make a difference in your area?
When we refinanced last year, our appraiser barely glanced at the new hardwood floors we put in... seemed more interested in square footage and recent comps. From what I've seen, adding usable space—like finishing a basement or attic—usually moves the needle more than cosmetic upgrades.
