We estimate the value of a Project using the same machine learning algorithm that we use to . This allows us to tailor the Project estimate to your home, on your lot, in your neighborhood, and with your home’s exact configuration.
Basically, we simulate the configuration of your home as if you had completed the project, and then run that simulated configuration through our algorithm to get an estimate for your “hypothetical”, project-enriched home.
To illustrate, if you have a home with two bedrooms, and you reclaim space to add a third bedroom, we run your home profile through our algorithm, but with three bedrooms instead of two. If your home was worth $500,000 with two bedrooms, and $550,000 with three, the value of adding the third bedroom is $50,000, and that’s a 10% increase.
Many of our Projects simulate changing more than one aspect of your home’s configuration, but our model handles all of the complexity.
Related article: How does Plunk calculate home values?