Also, "in-law suites" in the basement can widen your buyer pool. Not necessarily that everyone has an in-law moving in, but some view it as a great space for a teen or adult child and some view it as an opportunity to rent the space out. I currently have all bedrooms on one floor, which worked for me at the time because I had a baby on the way, but these days I'd probably prefer my master in the basement! One caveat here - losing the garage will minimize your buyer pool!
If you'll get good use out of it, you should do it. As long as you don't go crazy on your budget, you should recoup your investment easily (although that sq. footage probably won't bring the same dollars as the upper floors). I make all my improvements based upon what will work for me first, while keeping in mind effects on resale since I know I won't live in or keep any property forever.
In MOST cases, a basement would not exceed half. In other words, whatever per-foot price is determined for the main floor and all above ground floors, the basement would be 50% of that value. In RARE instances, I've seen basements that are finished out VERY nicely, with standard height ceilings, no random support columns obstructing an otherwise open room, etc., that might bring 75-80%
If the master bedroom in this house feel like the rest of the house, it my be very close to equal value (as master bedrooms are huge attractions for all of us in choosing the right house). That being said, its difficult to achieve as the market EXPECTS the master not to be in the basement. Would you find yourself regretting that the master is down there, or loving the use of space?
Does this help to answer your question Clyde?
kevin pellatiro (615)714-7918 email@example.com http://signswemustobserve.blogspot.com/