Is it a good investment to finish a basement of something that you buy wheither it being a home or townhome?

Daisy10
Home Buyer
Freehold, NJ

Answers (4)
Kenneth Verbeyst...
Agent
Princeton, NJ

Daisy,
Finishing a basement will likely add value (unless low ceilings and mechanicals make it unuseable even finished.) Finished walk up attics also may add value. No matter which, get permits for all the work you do that requires permits. To finish without permits may actually make it more diffficult to sell in the future or worse yet cause injury or health issues. (miswiring causing shock or plumbing/ventilation issues promoting mold growth or rot) The cost to finish will vary as widely as your recoup. If you have space and ability to add say a bath or half bath without ejector pump this would likely have a good return. If pump and pit required the cost goes up significantly and may not be worth the expense.

Fri Jun 26 2009, 08:18
Kathleen
Agent
Cherry Hill, NJ

Daisy 10, You need to speak with a local agent. Not all markets value finished space that is below grade, the key factors being is the space walk out with windows. If you need a recommendation on an agent , call me as I can recommend someone good in your market. Kathy 856-912-78392

Fri Jun 26 2009, 05:30
John Agnello
Agent
Cherry Hill, NJ

Most definitely! A basement offers additional living and storage space. How much value that may add will depend on the area your in, the size of the basement etc. It might not be the 1st place I put my money into but definitely a consideration.

Fri Jun 26 2009, 05:20
FIRST ANSWER

Hi Daisy, yes, it is. Finished basement space in either a home or townhome is welcomed by potential buyers and may be the swing vote in a purchase decision. But as with most improvement investments these days, don't count on recouping the entire investment. Evaluate whether you will enjoy the improvement, if yes, then great idea - it surely will be a help, not hindrance, to a future sale.

Best,
Jeannie Feenick
"Unwavering Commitment to Service"
Search and connect at http://www.feenick.com

Web Reference: http://www.feenick.com
Fri Jun 26 2009, 05:16

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