When you make certain improvements to your home, we want you to keep 100% of the market value added through these improvements – Landed does not share in any of that.
At the end of your partnership, the value of your improvements will be determined by an independent appraiser. The appraiser will review key documentation including photographs and permits to determine the value of the improvements.
In order for an improvement to be eligible for positive adjustment, you would need to notify Landed before the work begins. See below for Landed’s eligibility guidelines.
Improvements Eligible for Positive Adjustment:
This is work that you notify Landed of beforehand, and is not explicitly mentioned in the NOT eligible list (see below). Some improvements are both eligible and more likely to add market value to the home. Those include:
- Work that adds square footage
Examples: Adding a bathroom to the back of the home, an Accessory Dwelling Unit (ADU), or habitable area (such as converting a basement to a living space with appropriate government permits).
Improvements NOT eligible for Positive Adjustment:
- Foregone maintenance - includes items that require repair, such as a leaky roof.
Note: In Landed's property review process, we will highlight foregone maintenance issues that are readily apparent in the available reports/disclosures to make sure you have the best information possible.
However, it's important to note that it's possible that not all foregone maintenance is documented in these reports/disclosures.
- Work completed to maintain the condition of the home to serviceable or approximately the condition it was in when you purchased it (whichever is higher).
- Work that is not completed in accordance with local laws, such as required permits.
- Work that you do not notify Landed about ahead of time.
In addition, there are improvements that are unlikely to add market value to the home. Those include:
Work that does not add square footage or habitable area to the home (such as replacing carpet with wood floors).