Ks, Other/Just Looking in Shrewsbury, MA

Thinking of finishing our SF basement in Shrewsbury with Bath, kitchenette, storage room. Any ideas what not to build to minimize RE tax increase ?

Asked by Ks, Shrewsbury, MA Fri Feb 3, 2012

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Basement spaces add value to the home if done well (don't cut corners) but remember basement square footage is only worth about half of the square footage on the top level floors so you don't over spend as you may not make the money back.

Good luck!
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1 vote Thank Flag Link Fri Feb 3, 2012
Good answer Heath. I would also add to check with homeowners insurance. If you were to get water in the basement for anything other than the water heater coming apart, most insurance companies will not cover damage. Knowing the details will help you make decisions.

0 votes Thank Flag Link Fri May 4, 2012
I would ask an appraiser. Most basement improvements do not translate to any value on an appraisal. You will then be spending money you may not get back.

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0 votes Thank Flag Link Mon Feb 13, 2012
A licenced general contractor can advise you what can be built, a local real estate professional can give you an idea of what the work will improve your property value by. Alot will depend on the quality of the work done, how it compares to properties of like type and the neighborhood value of your property currently and then after the work. You should also check with the building department/inspectional services to make sure whatever you do build is allowed & permitted. Some properties cannot have livable space allowed in the basement due to building codes & fire regulations. There's no real way around property tax increases, they base the increase on the building permits you take out for the work. If you don't get the proper permits you run the risk of having a property that may void your homeowners insurance, mortgage requirements & the town requiring you to remove all the work done.

Hope your project goes well,
0 votes Thank Flag Link Fri Feb 3, 2012
I would think any improvement would bring your taxes up. Why do you need a kitchen?? that might be an issue.
0 votes Thank Flag Link Fri Feb 3, 2012
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