Differance between Updated and Remodeled?

[Mztk1]

It depends on if you are a literary type or technical. A technical guy or gal will actually care they there are subtle differences between the two words and insist they are used correctly; a literary guy or gal will actually care that they already used "updated" in the last last sentence so now they need a synonym and "remodeled" will do.

I didn't like the movie but I sat through "The Devil Wears Prada" (is that right?), and at one point the mean boss chick point out to the protagonists sweater and says "You call that "blue" but its not blue, it "insert proper name here" and it has a long history that started [recites a long chain of events that started the color craze and got it on her back in an ugly sweater]". The truth is, to most people it is blue and synonymous with the color the boss lady was talking about. Similary, if you used remodeled instead of updated I don't think you'll be bothered by anyone over the word choice except by the biggest real estate geeks around. As long as the property is properly decribed otherwise, I think you'll be fine.

 

[larry shane]

and the best one is when the MLS says updated or remodeled... and you call the agent and they say it was 'average'.... or it had new carpeting or new appliances.

i almost never trust the MLS text.. unless they praddle on about specific updates, etc.. and then.. i still want to see the pictures.

 

[davebram1]

Cosmetic=update
Structural=remodel

You'll probably never hear about an appraiser's words being the cause of a lawsuit. You sure will about a Realtor or Broker's though.

The lawsuit to which you refer, a person may hear about in the papers. A violation of USPAP a person will not hear about in the papers but, it is far more costly to the appraiser than the lawsuit to the Realtor or Broker, for sure.

 

[Mike Garrett RAA]

To me updating is more extensive than remodeling. Updating could include new systems such as heating, plumbing, and electrical. A new roof, new siding, etc.

On the other hand, remodeling is paint, floor coverings, and maybe counter tops or cabinets. Appliances could fall into that classification too.

Updating probably reduces the effective age where as remodeling might not. Harrison used an interesting term in his book..HOUSES. It's called "remuddled".

The language of Real Estate Appraisal...Fisher, Martin, and Mosebaugh (1991) says remodeling changes the property use by changing the design. That is contrary to my opinion. It doesn't have the term..."Updating". Fundamentals of Real Estate Appraisal, William Ventolo, Jr. 8th Addition, 2001...doesn't have the term "Up-dating" either. My other reference source is Marshall&Swift and it doesn't have either term in the glossary.

The thought that comes to mind is "updating an appraisal". How would you describe that?

Cheers

 

[davebram1]

To me updating is more extensive than remodeling. Updating could include new systems such as heating, plumbing, and electrical. A new roof, new siding, etc.

On the other hand, remodeling is paint, floor coverings, and maybe counter tops or cabinets. Appliances could fall into that classification too.

Updating probably reduces the effective age where as remodeling might not. Harrison used an interesting term in his book..HOUSES. It's called "remuddled".

The language of Real Estate Appraisal...Fisher, Martin, and Mosebaugh (1991) says remodeling changes the property use by changing the design. That is contrary to my opinion. It doesn't have the term..."Updating". Fundamentals of Real Estate Appraisal, William Ventolo, Jr. 8th Addition, 2001...doesn't have the term "Up-dating" either. My other reference source is Marshall&Swift and it doesn't have either term in the glossary.

The thought that comes to mind is "updating an appraisal". How would you describe that?

Cheers

You have the terms reversed. But correct on the possibility that an update could be costlier than a remodel.

Updating an appraisal is a new assignment to a previous appraisal. Which has nothing at all to do with remodel or updating.