It would depend on your homes' other amenities. If your home is older with 2 or 3 bedrooms and 1 bath and there is a lot of competition then the extra bath and room could be beneficial. The basement should also be accessible from the inside of the home, not only from the outside. How finished and updated the rest of your house is should also be considered, maybe the money you would have spent finishing the basement would be better spent on doing some upgrades to your home. Time and money also need to be considered. There may not be enough time to do much before this spring, so maybe putting money into making some cosmetic improvements would a better idea.
I would suggest that you go to open houses in surrounding Madrona area to see in person, homes that are similar to yours to see their condition, and basements to get a better idea of the return on your improvement dollars. Money spent on upgrading kitchens and baths is usually a better return on improvement dollars than do basements.
Valuing is all about comparisons and experience! The more time and effort you put into studying and evaluating the pros and cons, and other options, the lower your risk of making a poor decision.
Best wishes on your project, and email me if I can be of more help to you.
Make sure it is clean and dry and has good lighting. Let the buyer envision the possibilities and feel good about the space, and what they may be able to do with it that will suit their own needs.
I will also add that you should have a couple Realtors over to give you their opinion of value as is and possible value after a remodel. It is really important to understand the numbers and what kind of return on your investment you would get if you do take the time and energy to remodel. It is also important to get other professional perspectives of where your hard earned money should be spent for a remodel.
The bottom line is that the value of the improvement depends on the home. Here is the good news. Contractors will give you an estimate of the cost of the improvement and a Realtor should be able to tell you the value of your home before and after construction. With those opinions, (and I wouldn't get just one opinion from either a Realtor or a contractor), you should be able to make an educated decision.
First, buyers do not expect basements to be finished, nice touch but not necessary.
Second, when the sq. footage of the basement gets added to the sq. footage of the house buyers get disappointed since it actually is not a living area but a basement.
Third I have seen homes that nothing was left unfinished and basements with surround sounds and buyers just kept saying and where should we store our stuff?
If you really want to improve something than focus on low cost kitchen or bath remodel, and fix up small things around the house that will get noticed like paint, nicked woodwork, worn carpets etc. Focus on presenting your home as clean, neat and ready to move in. Curb appeal is also high on the list.
1. Seller remodeled basement, put in second master, small kitchen and second bath. Wall to wall carpet throughout. New windows, new drywall. House was on the market for about 9 months.
2. Seller did nothing to the house. Ever. Not only did the basement need to be finished, the whole house needs to be remodeled. Sold in under 2 weeks.
Make the house as pretty as possible without doing any major work.
Good luck and let me know if I can be of any help.
Done Deal, Best of Luck to you.
Prudential NJ Properties
Oftentimes, a basement may give you the opportunity to market an extra bathroom or even a mother-in-law space depending on how the basement is set up. As Courtnet said...have a couple of realtors come look at your plans and discuss how much value a finished basement would add to your home.