Refi in 2009, appraised at 185K.
replaced vinyl flooring with ceramic tile in kitchen, bathrooms
added deck, screened-in porch
new gutters, downspouts
new carpet in bedrooms
Spent 45K, appraisal last month came back 191K.
We did the same thing between 2010 & 2012.
2010 Appraisal- $296,000
added 16x22 on to our current 10x22 slab patio and pergola covering the whole addition, changed the flooring in the living/dining from carpet to hardwood
2012 appraisal- $296,000
I looked on both appraisals, and they both noted that I had a patio, and assigned that patio a value of $5,000.
When they appraise for a refi, they don't take into account all those things that add value like new roof, gutters, patio, etc. If you look on your appraisal, they probably didn't even note all of your improvements since they didn't add any sq ft to the house, and that's basically all those refi appraisals are based on- sq ft vs comps.