financing, etc.

But, "Yes", if the home appraises for higher after all the renvoation/updating, then the LTV will be less than the typical 80%, which I believe is the threshhold for requiring PMI. We got PMI removed from our first home simply because the market had increased and the property value appreciated. We got an appraisal that showed a higher value and the lender was able to drop off the PMI.