Why aren’t our renovations included in the appraised value? You may have spent considerable money on renovations in a kitchen, bathroom or other area of your home. Those improvements may add to the appraisal, but they probably won’t transfer dollar-for-dollar to your home’s value. Variations in the housing market also will affect your home’s value, and that can affect the value of renovations as well. Typically, kitchen renovations have the most return on investment, but again, the money spent on a renovation may not be returned in full with the appraised value. Your loan officer can give you more information about the appraisal process and how your home’s value affects your eligibility and possible loan amount. If you have questions about your home’s appraisal, ask your loan officer for details. Can I find out the value of my home without an appraisal? An appraisal is the best estimate of your home’s value and is required for the HECM loan. If you want to obtain other estimates on your own,you could: Call your county assessor to find out the tax-assessed value of your home. Keep in mind, however, that the tax assessment likely will be lower than appraised value because it isn’t the market value or possible selling price for your home. Talk with your insurance agent about the replacement value of your home. This estimate may be much higher than the appraised value because it represents replacement for property loss rather than market value. Visit a website such as Zillow or Trulia to see real estate listings in your neighborhood and get an estimate of your home’s value. While these websites may provide a general idea about your home’s value, these estimates might not be accurate. In addition, the other homes you find listed in your area might not be comparable to yours. Contact a Realtor to find out a potential sales price for your home. The Realtor can look at comparable homes to determine a selling price. If you go this route, bear in mind that the Realtor is a professional who has an interest in selling your home. If you aren’t genuinely interested in selling, talking with a Realtor could open the door to follow-up sales calls you don’t want.