2006-08-05 08:39:19 · 4 answers · asked by Anonymous in Home & Garden ➔ Maintenance & Repairs
The value of upgrades to your home-things with resale value like kitchen and bath counters, cabinets, flooring.
They also take into consideration the overall condition of the home relative to its age, the features of the home-HVAC, number of bedrooms and bathrooms, size of rooms, storage space, garages, yard size, lot size, location of the home etc.
Basically the banks funding your loans want to know, if they have to forclose on your home and it becomes their property, is it a good investment for them, will they be able to resell it and get a good price for it?
2006-08-05 08:48:09 · answer #1 · answered by elk312 5 · 0⤊ 0⤋
I just had an appraisal this week, and the kitchen/bathroom upgrades/updating were very helpful. He also told me my house's selling points: such as vaulted ceilings, fireplace, ceiling fans (since I live in the desert), security system and the 16 X16 tile on the floor.
Hope this helps.
2006-08-05 10:46:26 · answer #2 · answered by pkb 2 · 0⤊ 0⤋
they compare it to similar houses in the hood. then use sales figures to figure what yours might be worth. come up with a value and then they can loan you a % of that value.
2006-08-05 09:47:29 · answer #3 · answered by zocko 5 · 0⤊ 0⤋
kind of construction,type of foundation,electrical wiring and service, ie.60,100,200 amp, water leaks in piping,bathrooms,kitchens-roofing,
siding, masonry,infestation, landscaping,furnaces or boilers...in other words, the works....
2006-08-05 08:51:17 · answer #4 · answered by flstc88 2 · 0⤊ 0⤋