- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
Ah, the great home owner-appraiser debate. I just bought this brand new $5,000 air conditioning system (replacement), doesn't that add $5,000 to the value of the home? I just added a $4,000 composition roof, doesn't that add to the value of my home. I have done $40,000 worth of improvement in the last 10 years (yard work, a new tree, new gutters, a new storm door, three new light fixtures, new light bulbs, etc, etc, etc all itemized in a list for you). Dollars in do not mean dollars out. I will never try to discuss typical deferred maintenance or any maintenance that is typical for the history of a home. Basically, I treat deferred maintenance as "required repairs" that would bring the home to typical average condition. Otherwise, I consider the overall condition of the home and whether a repair is needed to make the home liveable. Sometimes it seems my idea of liveable is above what some home owner's believe is liveable.