The best possible way to find out if your home will attract more buyers while also making sense to your pocketbook is to have your trusted real estate agent look into comparable homes for you. This will help determine if the additional square footage whil bring you a higher price point and ultimately have you come out on top.
Best of luck to you!
Best of Luck!
Doug MacCallum, GRI
Edina Realty Lakeville
I hope that helps you.
elected a 2012 SUPER REAL ESTATE AGENT by Mpls St Paul Magazine & Twin Cities Business Monthly
15451 Founders Lane
Apple Valley MN 55124
cell (952) 210-5243
Then you look at comps with FINISHED basements and see what the market gives for this. For most retail sellers the answer is no, because the spread is not large enough for it to be worth your time. If you can finish it yourself the answer is almost always yes.
But my comrades are correct having a Realtor on your team can really help with this and let you avoid a $10,000 mistake or really at the end of the day maximize your profit.
I work with investors that flip homes all over the metro, so I would consider myself an expert at knowing what projects return the highest profit in homes. Is it possible that instead of finishing the basement you will make more money sprucing up the kitchen and bathrooms? That is something you may want to know.
Feel free to contact me if you would like some help on this I would be more than happy to assist you.
The answer is a definite maybe. A professional Realtor will help you figure this one out. Is your competition all homes with finished basements? Is your kitchen in first-class shape. Do your bathrooms gleam and shine? If you can answer yes to both of those than find out what the cost of finishing your basement will be and what the payback on resale might be. We offer both a CMA (comparative market analysis) and a PTA (Price / Trend Analysis) to make sure your house is priced properly to sell from the first day of listing.
If all you are talking about is rock, tape, mud, paint, and carpet then more then likely the answer is yes, go ahead. If you have to run new HVAC then maybe not. Make sure you tour your competition with a great Realtor who can help you make your home outshine the competition. Our listings in your area generally sell within 30 days.