Ask the New York Appraiser

Homeowners will tell us that they have spent thousands of dollars on improvements and amenities on their home since they purchased it.  Many homeowners believe that if they spent $50,000 on these improvements that their house must be worth $50,000 more in value.  Unfortunately, that is not true most of the time because cost cannot recapture full value of additional amenities or improvements.  Homeowners need to be careful when over-improving their house because there is a good chance the market will not bear the return of their cost when it comes time to sell the property.

We'll treat other client misconceptions here, as part of our ongoing updates to provide you clear, accurate information to help you make the best use of your appraisal report and the appraisal process.