Home Selling in 46077>Question Details

Jesse Garcia, Home Buyer in Zionsville, IN

2008 new house w/ acreage, million dollar range or -,better to add decks or finish walkout Basement, resale?

Asked by Jesse Garcia, Zionsville, IN Tue Jun 17, 2008

While building could'nt afford to add back decks or finish the rough plumbed ,full walkout basement in 07. Wooded, hilly acreage in Zionsville horse country. If re-sold should be around millon range or -. Would a finished basement or back multi-tier decks be more of a selling factor and price influencer. Best return on investment for price influencer? Funds are limited so either choice must be justified. Please advise...

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Julia Evinger’s answer
When working with buyers, one of the most frequent requests I receive is for a home with a finished basement. If you have a walkout basement or daylight windows that is even more of a plus. Buyers are looking for additional living and entertaining space. They not only want carpet and drywall, but if you have the funds, finish a bathroom and if possible a separate area that could serve as a theater room, workout area, or playroom. Having two separate defined spaces will add value at a minimal cost. At your price point, a finished basement is going to be expected. Even at the $500,000 price point buyers are choosey and there are plenty shortage of lots available. If they cannot find what they are looking for in a resale property, they will build it.
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0 votes Thank Flag Link Wed Dec 7, 2011
If I had to chose between finishing out a basement or doing the multi-tier decks, I would finish the basement out. Even though a finished basement can't be fully "captured" on the sq.ft. of the home, a deck, you would not get any sq.ft. "captured". Price per sq.ft. is what a home is measured for at the end of the day, and the sq.ft. in the basement will give you a better "return" then the decks.

Based on my experience selling homes in the $500k-$1million range, most of my clients would prefer a finished basement to the decks. Plus, most homes in this price range have at least 50% of the basement finished(if there is a basement).
1 vote Thank Flag Link Sun Jun 22, 2008
I would say to finish the basement. It adds usable sq/ft to the home. In the million dollar range, in Zionsville, you will have some resale competition and will need all the finished sq/ft you can get. Decks are nice butI 'm afraid if you went that route, you would always end up with the resale objection of not having the basement finished. In the 1 mil range in Zionsville, I think a finished basement would be expected. Lots of nice model homes in Stonegate with 5000-8000 sq/ft plus finished basements/theators/wet bars, etc. in this price range that would compete against you.
0 votes Thank Flag Link Tue Jun 17, 2008
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