I’ve done some research and per IRS publications, if you make home improvements for medical reasons, you can often deduct part of the cost as a medical expense (basically, if it costs 10,000 and raises your home’s value 8,000, you can deduct the 2,000). This meshes with what my parents told me years back when they put in central A/C (kids with asthma, attic fan was only source of cooling).
I’m wondering if anyone has anecdotes on having done so, and how you estimated the change in the home’s value.
I may be able to get our county property tax people to give me some estimates if hardwood floors improve value (we’ve been advised to remove carpeting and replace with solid surface in at least one bedroom) - say house currently is 50% hardwood and this would make it 60%, does that affect value… Any other ideas on how we might come up with such an estimate? It’s certainly not worth the expense of having a full-blown home appraisal!