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Does finishing my basement add value to my home?
By: Manies Construction
How Much Value Does a Finished Basement Add?
One of the questions I often get is "does a finished basement add value to my home?" This question is often followed by "how much value will a finished basement add to my home?" Finished basements can add a lot of extra living space, so it is understandable that so many owners choose to renovate the space under their homes.
Whether you want to add an extra bedroom, a theater or a workout room, the basement gives you options that you otherwise wouldn't have – unless you wanted to add an above-ground addition to the home, which would be more expensive. Besides adding space, a finished basement could also increase the value of your home.
It is important, however, to recognize that you may not get every dollar back when you sell. Basements are evaluated differently than above-ground space, something to consider when you are thinking about remodeling.
Basements, however, are improvements that increase home value. The finished area in the lower level of your home will add value to the price of your home; it just won't be the same as above grade space on a dollar per square foot basis.
Basements, however, can be very attractive areas to finish due to the amount of square footage you can pick up relatively inexpensively vs. adding an addition. While the value added to your home from finishing your basement may not be as much as you were hoping for, you will save money by adding living space under the house as opposed to above-ground.
Building an addition above-ground is expensive, while the basement already has a floor, walls, wiring, plumbing, and a roof – making it relatively affordable to renovate.
Read the full article here: https://www.maxrealestateexposure.com/
If you are in the St. Louis/St. Charles County area, check out http://www.maniesconstruction.com for a price quote and design ideas.
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