Home Buying in Morton Grove>Question Details

Ming D, Home Buyer in Illinois

How much does a 400 sq feet sub basement worth more?

Asked by Ming D, Illinois Tue Jul 1, 2008

I looked at a house with a 400 sq feet sub basement below the basement. It is used for lawndry room and tool room currently. I can't find any comparables in that area that has this fourth level. How much more does this sub basement is worth comapred to a similar house with no sub basement? This is in Morton Grove, IL.

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Hi Ming-
From what you said, it appears to be an unfinished area of sub basement. Not a finished laundry room and tool room. So, then Mark is correct, it would not add value. However, if it were to be completed that would be a different story.
Sounds like you are describing a quad level home. There are very few of them. Depending on the condition the sub basement is in, that will determine the value added, or taken away.
You can ask the realtor that showed you the home. Or, please feel free to contact me directly. But ask for comps for a quad level home. Not a Ranch with a basment and a sub basement. The values will be different. Hope that helps!
0 votes Thank Flag Link Mon Aug 25, 2008
Ming,

My opinion is that it really does not add any additional value to the home. Happy home shopping!
Web Reference: http://www.markroncone.com
0 votes Thank Flag Link Tue Jul 1, 2008
Ming,

Email Mark.E.Roncone@gmail.com he will be able to help you out:)
0 votes Thank Flag Link Tue Jul 1, 2008
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