Hi there, we enclosed a space in our home to take it from a 2/1 to a 2/2. No change in heated square feet. We’re so close to dropping PMI, and recent comps are priced $50-80k higher than when we bought so I feel good we’ll get a higher appraisal. Im curious what downsides, if any, might exist to have my house show an increase in value?
The county increased our building value to reflect the change, but the assessed value increased at the same rate as previous years, as if there has been no change.
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source https://www.reddit.com/r/RealEstate/comments/1whxe0b/any_downside_to_reappraising_your_house_after/
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