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It is STILL one of the questions I get the most from both sellers and people that are enjoying their homes (not selling).
Will finishing my basement increase the value of my home?
While the answer isn’t quite this simple, it is basically, no. There is obviously a lot more to it, and there can be mitigating circumstances. One of the biggest is figuring out if you have the capability to do the work yourself, or if you need to hire a contractor. And when I say “you do the work yourself”, PLEASE remember that “good enough” usually isn’t. The work needs to be AT LEAST as good as should be expected from a contractor. And NEVER skip getting any required permits.
There are a lot more details on the original post (link). And that post was actually a follow-up to an opinion post (link) I wrote in January of 2009. The older post was based on my impressions from buyers. The later post was based on data from REDataCenter’s Gwinnett County Market Data and some articles publish by the NAR regarding appraisal guidelines for upgrades to homes.
Related articles
- Wayback Wednesday… From the Meltdown. (lanebailey.com)
- Wayback Wednesday… How ’bout Those Housing Starts (lanebailey.com)
- Wayback Wednesday… An Oldy, but a Moldy (lanebailey.com)
- Wayback Wednesday… Bankrupt Subdivisions… Good Deal? (lanebailey.com)
Don’t hesitate to shoot Lane a message if you have any questions, or need any help. And check out the new links for FREE Property Searching, FREE Comparative Market Analysis and FREE Market Reports. They are near the top of the page…
