Paid invoices, by trade
Municipal permits obtained
Before and after photos
Documents that prove the work
- Paid invoices, by trade
- Municipal permits obtained
- Before and after photos
- New leases, if rents changed
Waiting for the new appraisal
Some lenders wait six months after completion. Others accept right away.
What the appraiser measures
They compare the property to recent sales in the area.
Your work counts only if it moves the property closer to those comparables.
Work that pays back most
- Adding a unit allowed by zoning
- Converting unused space into living area
- Full kitchen and bathroom renovations
- Replacing an outdated heating system
Building the proof
Photograph before, during and after. Sort invoices by trade.
Waiting for the new value
Some lenders require six months of ownership after the work.
Others accept right away when invoices are complete.
This rule varies widely: ask before starting the work.
What to avoid
Do not apply for refinancing while the site is still open.
The appraiser would then use the value of an unfinished building.
Wait for the work to finish fully, and for invoices to be handed over.
