Mike, Other/Just Looking in 60410

How much would finishing my basement add to the value of my home?

Asked by Mike, 60410 Tue Jul 3, 2007

It is about 900-1200 sq ft. There sill be a full bath added and 2 open areas.

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Answers

3
You will likely not recoop the cost of the basement finishing, at least given current market conditions. If you have a walk-out basement with 8' ceilings, you will recoop more cost than you would if you have a 100% below ground basement with 6.5" ceilings. If you haven't finished it yet, I would suggest adding a bedroom (or a room that can be used as a bedroom or left open a la French doors) and including a closet and window in that room in order to maximize value - Make sure you do include that full bath.

If you are renovating just to renovate and add value to your home, don't bother, especially in this market. If you want to renovate to get extra usable space and for your and your family's enjoyment, then I say have at it and do what you want to do for the money you want to spend, just don't plan on getting much of it back.
0 votes Thank Flag Link Wed Mar 16, 2011
You wont get the same amount of dollars per sq ft as the rest of the house. A rough estimate would be to take 40% of the dollars/sq ft X the size of the basement
0 votes Thank Flag Link Tue Jul 3, 2007
This is one of the best articles I've seen on the subject:

http://www.doityourself.com/stry/nottorenovate
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Tue Jul 3, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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