Bath Investments
March 22nd, 2007
Question: how much value will finishing my basement add to my home.?
I live in a small home (1,100 sqf) in Seattle. I plan on raising the house three feet and digging out the basement crawl space to create extra living space. I plan on adding an addition 800 sqf of living space (extra bedroom, bath etc). The estimate for the project is about 60 grand give or take. Is it foolish for me to hope for more than a 100% return on my investment when I sell the house?
Answer: I really doubt you will get your money back on that project. You might be better going up instead of down. Drainage problems are going to be bad when going down. The other issue is to not over-build for your area. Are there other 1900 – 2000 sq ft homes on the block or in your immediate area….if not…I would do anything that is going to put your home out of the pricing market for the area.
Laine Real Estate Investments 3582 Hazelwood Memphis, TN Pre-Renovation video
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