My home appraisal came back offensively low.
I (31/M) live in Central Florida. My wife (31/F) purchased a home in early 2022 for 415k. The home is a 3100sf concrete block 5/3 ranch style on 5 acres. When we bought the house the appraisal came back right at 415k. Which was no surprise. It was in very bad shape. Since then we have done a near complete remodel. Every space except the kitchen. On the Exterior we added fresh paint, a new deck, and a brand new metal roof. The time had come for a consolidation so we could start paying back the money had borrowed. We almost had a deal. The appraisal came back at 450k. I just cant help but feel like something isn’t right. The sf in the new appraisal was slightly lower by 400 sf. The total space count went from 10 to 6. We added millings in the drive way. There was deductions for no driveway. Added a 3 ton mini split AC which seemingly wasn’t valued. Those with a few more things that seemed to devalue the property. So we were denied the deal based on the appraised value being lower than we thought. Thats about 150/sf. Homes on the same road that are older, and with less sf/rooms/acreage have sold for 190+/sf. Do we just take it as a sign?