Welcome to Pete Brown's 10rem.net

First time here? If you are a developer or are interested in Microsoft tools and technology, please consider subscribing to the latest posts.

You may also be interested in my blog archives, the articles section, or some of my lab projects such as the C64 emulator written in Silverlight.

(hide this)

Appraisals and Home Renovations

Pete Brown - 19 August 2005

I started this home renovation before I considered expanding it and seeking financing. That ugly old wallpaper just had to go.

Rule 1 in Home renovating: if you even think you might be looking for financing to do the renovation don't do anything yet! Now I'm scrambling to put temporary trim back on the walls, finish removing the wallpaper and patch and prime before the appraiser comes on Wednesday.

Of course, all the old trim is at the dump, but luckily the carpet is still down (it is slated to be replaced with a bamboo floor)

The issue is not only house value, but also whether or not the house is considered "complete". I'm refinancing with a "cash out" (funny how the call it cash), which requires the property to be considered "complete" in order to get the loan. If the appraiser says it is subject to repair, that is a real problem. Relatively minor things that can make it subject to repair include:

  • Holes in drywall
  • Missing trim or doors
  • Defective paint

Of course, more significant issues like missing carpet, cabinets etc. will really count against you. Some things really just depend on the lender and the appraiser, although I know there are standards out there.

Anyway, off with the trowel, roller and nail gun to make this mess look more presentable!

wallpaper off the wallswallpaper off the walls 

posted by Pete Brown on Friday, August 19, 2005
filed under:  

Comment on this Post

Remember me

1 trackback for “Appraisals and Home Renovations”

  1. POKE 53280,0: Pete Brown's Blogsays:
    December is a relatively quiet time at Microsoft, and despite having a bunch of content work to complete,