Hiya, so I owe about $220k on a home worth $260k with a 30 year loan (2 years in) at 4.75%. The AC unit is over 16 years old at this point and gave out a couple months ago - the plan was to have my dad, a licensed contractor, come out and replace the system for free but thanks to the pandemic, I’d prefer to have him stay at home since he’s out of state.
I’d like to take advantage of the current rates and refinance, but I won’t be able to have an appraiser come out while the AC is broken. Will replacing the AC significantly impact my appraisal vs. repairing the current one? I’m wondering if I should just bite the bullet and pay for a new system, otherwise I could just pay to have the unit fixed for the appraisal and have it replaced later for free.
Submitted August 02, 2020 at 06:49PM by oddcanary https://ift.tt/31ifbdM
