Can a Finished Basement Add Value to Your Home or Business?

Can a Finished Basement Add Value to Your Home or Business?
3/2/2017

 


Does a basement add value to a home (or business)? Put simply—yes, almost always. Of course, the immediate follow-up question is “how much value can a finished basement add to your home?”, and that’s where things can get confusing for some. Fortunately, BasementRemodeling.com is here to clear everything up.

How Does a Finished Basement Add Value to Your Home?

When you are getting your home appraised, your aboveground floor space is valued differently than the basement area. Basically, everything belowground is worth slightly less per square foot, and its dimensions aren’t included in the total square footage. However, when the appraiser is figuring out the total value of each square foot of the aboveground space, a finished basement is factored into the mathematical formula and makes everything worth more.

Why is it Like This?

Real estate agents created this unique appraisal system because they don’t want basements to overinflate the price of the home. If aboveground space was considered to be the same worth as belowground space, then a small home with a large basement would be way too expensive. Unfinished basements are scored differently as well, offering less value. So, finishing your basement now can make a huge difference come listing time.

Are You Ready to Improve the Value of Your Home or Business?

Finishing your basement now is a great way to improve the overall value of your home per square foot, and BasementRemodeling.com is ready to help. When you are ready for a beautiful finished basement in your downstairs area, give us a call at (301) 798-4444 for a free estimate or get an online quote today!  

 

 

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