There are so many factors that need to be considered in order to truly answer your question. Things like location, your overall satisfaction with your home, cost etc. Generally speaking renovating a basement in order to sell would not be something I'd recommend unless the rest of the house has already been updated. In terms of return on your investment you'll be luck to get 40-50% back when you sell, as opposed to re-doing a kitchen, baths or even simply repainting the entire interior and updating some lighting fixtures where you would likely see between an 80-120% return. If you're doing this to sell the house I'd suggest speaking with a few local Realtors and getting their input, after you've shown them your home. If you're doing this to create additional living space for yourselves and plan on living there for several more years, then I'd say it's worth doing.
Depends on the current value of your home and the other features it offers in the marketplace. Get an experienced listing broker to value the home and inform you how much more value would come from a finished basement. The broker should be able to help you with a cost:analysis to determine if you should invest the dollars to get a better return.
If your husband is going to hit his head on the radiator pipes every time he goes down there and scream at you for this stupid $%#* idea to convert the basement, then don't bother.
If it's deep enough, or you are willing to pay for the deep (underpinning) digout, why not. Get a roll of blue tape. Go down there and tape out where you would put your stuff, and see how it feels. Just make sure you have enough tape to make that ping pong table. It's required by Chicago building code.
Good question. A lot depends on the value of basements in your area. And of course the level of finish, cost to you, the size of your basement, etc. Your Listing Broker can give you more detailed information on basement valuation in your particular area. Sometimes it is a selling point that makes your home sell faster without a great return on your investment. A market analysis will help you determine if the money, time and hassle is worth it to you. Best of success.
Robert McGuire ASR
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct â€“ 303-669-1246 http://theRobertMcGuire.com