skip to main content

Buying and Selling Homes

Value of a Finished Daylight basement

14 years ago

I had an actual argument with my next door neighbor becuase he claimed our finished daylight basement (16 windows and a door to a patio) was "worthless". When I argued that it must have some value his response was "bulls@#$". How DO realtors,etc. value this type of space? We have 5 large rooms (about 2200 sq ft) of finished space including a full bath. Is this really "worthless" or can we expect some value if and when we sell the house? Thanks!

Sort by:Oldest

Comments (7)

marys1000
14 years ago
Well I'm not a realtor but I would think yes it has value. How much depends on your area etc. So...you have a 2200 sq ft house up and a 2200 sq foot finished basement?
ncrealestateguy
14 years ago
If the quality of finishes are the same as the rest of the home, the space should appraise about the same as the rest of the home.
Related Discussions
value of basement square footage
Q
Comments (7)
It's definitely a regional thing. We've lived in 6 different states, some of them only above ground finished space was counted, some of them any finished space was counted and some of them the basement if finished could be counted if it was a "daylight" or "walk out" basement. Check with your local realtor for what is common in your area.
...See More
How much value does a finished basement add?
Q
Comments (7)
My agent spoke with the listing agent and sent me the following message: "This home was slated for foreclosure when a deed in lieu was issued to the current owner. According to the agent, he is taking a loss on the home with the deed in lieu process, thus the reason for no price reductions coupled with him not desperate to sell. Ã¯Â¿Â½ Ã¯Â¿Â½They just recently put in a yard, as he felt some of the people who have looked at the home, could not envision what a yard would look like, as I guess it was all a bunch of scrub brush and not a completed yard, so they did one. Today they areÃ¯Â¿Â½going through the basement for itsÃ¯Â¿Â½final phases of sheet rocking, texture, and painting, asÃ¯Â¿Â½approx. 1000+ sq/ft of basement was NOT complete. They are completing it now, and will finish withÃ¯Â¿Â½texture, paint, trim work and carpeting. There is also a bathroom plumbed, and conversions can be done, however one may see fit, Even a Mother in Law apt." When I look on the county website they list no sales for this property (going back to 1997) The property is owned by a financial group- llc type thing. I will ask my agent more about it tomorrow, as I am still confused as to who was building the home and who owns it now. As far as finishing the basement, my guess is the owner has multiple business ventures that involve construction to some extent. So perhaps it is easier/cheaper for him to finish the basement and sell it as a 4,000 sq ft home vs just 3,000. I think the home may have been rented out. Agent comments on another website mentioned that this home had been well maintained. It was built in 2009 and most of the listing photos were taken when the house was just about complete. A little confusing, but overall much more straightforward than the last house we were looking at, lol.
...See More
how to value a finished basement
Q
Comments (3)
Is it an old, musty dungeon basement or a newer light filled walk-out basement with 9 ft ceilings? Lots of variables that can affect the value (real or perceived) of a basement.
...See More
Finishing basement - one or two finished rooms for resale value?
Q
Comments (15)
I would also consult with your local AHJ to determine the code requirements for various uses of the new basement rooms. It looks like you have good headroom (usually the finished ceiling must be at least 80 inches high), but don't have egress windows. This means it can probably be used as a basement family room or office, but not be a bedroom (that requires an egress window or door). In most areas you will be required to pull a permit, and comply with applicable codes to finish a basement. If you want to make your life as simple as possible, list the use as basement storage, which has the simplest code requirements. For example, most AHJs now require AFCI circuit breakers for receptacles in all living areas, but may only require GFCI for a basement. When they inspected my basement "storage area" and found it had 14 receptacles, prewire for TV and audio in two locations, and in-wall wiring for 5.1 speakers, it was not a problem. They first looked at all the framing and insulation, and later at the A/C wiring/receptacles just to make sure the receptacles were wiring correctly. The only side comment was "lots of wiring for just a storage area." Bruce
...See More
terezosa / terriks
14 years ago
I know that the answer to this is very regional. In my area (west coast) most homes are built over crawlspaces or on slab, so basements are very rare. Here, a finished daylight basement will have the same value as any other square footage in the house. I understand, however, that this is not true in other parts of the country where basements are common.
ballysharon
14 years ago
Sounds like he's jealous...

HGTV says there's always value in a finished basement - whether they are right or not I don't know, but it just makes sense to me.
berniek
14 years ago
Here is an appraisers value assessment of a finished basement.

Improvement Contributory Value
Residence
1,751 finished square feet above grade at $63/s.f. = $110,313
1,405 total basement square feet at $9.50/s.f. = $ 13,348
1,340 finished basement square feet at $20/s.f. = $ 26,800
250 sunroom square feet at $6.50/s.f. = $ 1,625
100 patio square feet at $4.00/s.f. = $ 400
$152,486
chisue
14 years ago
In Chicagoland a finished basement has resale value, but space 'below ground' (or in windowless attic) is not included in the value assigned by the tax appraiser. Kind of a win/win for a homeowner! LOL

It sounds like you have what's called a 'walkout' basement, since you have a door to a patio. I don't know how that would appraise here, but what's important is how it appraises where you live. Check your tax bill. Ask a local realtor.
neesie
14 years ago
I lived for many years in a house with a finished basement. Then we moved to a house with a finished, walk-out lower level like you are describing (large windows, sliding glass doors to patio). It is like comparing apples to oranges. It was on our list of 'must haves'.

I overheard my kids referring to our old house as "the creepy house". Offended, I asked them why (I thought our other house was nice!) They said, because it didn't have big windows downstairs....so there you have your assessment from a kid, LOL!

Related Stories

GREEN BUILDING Insulation Basics: Heat, R-Value and the Building Envelope

By Mariana Pickering (Emu Building Science)

Learn how heat moves through a home and the materials that can stop it, to make sure your insulation is as effective as you think

MOST POPULAR 5 Remodels That Make Good Resale Value Sense — and 5 That Don’t

By Matt Clawson

Find out which projects offer the best return on your investment dollars

SELLING YOUR HOUSE 10 Ways to Boost Your Home's Resale Value

By Laura Gaskill

Figure out which renovations will pay off, and you'll have more money in your pocket when that 'Sold' sign is hung

REMODELING GUIDES Tubular Daylighting Devices Bring In Natural Light

By Lindsey M. Roberts

More advanced and less pricey than traditional skylights, TDDs are the most modern way to let the light in

REMODELING GUIDES Contractor Tips: Finish Your Basement the Right Way

By Buckminster Green LLC

Go underground for the great room your home has been missing. Just make sure you consider these elements of finished basement design

REMODELING GUIDES Know Your House: The Steps in Finishing a Basement

By Bud Dietrich, AIA

Learn what it takes to finish a basement before you consider converting it into a playroom, office, guest room or gym

KITCHEN DESIGN 3 Steps to Choosing Kitchen Finishes Wisely

By Vanessa Brunner

Lost your way in the field of options for countertop and cabinet finishes? This advice will put your kitchen renovation back on track

BATHROOM DESIGN How to Mix Metal Finishes in the Bathroom

By Rachel Grace

Make a clean break with one-dimensional bathroom finishes by pairing nickel, silver and bronze hardware and fixtures

REMODELING GUIDES Finish Your Remodel Right: 10 Tasks to Check Off

By Laura Gaskill

Nail down these key details to ensure that everything works properly and you’re all set for the future

BASEMENTS A Raw Washington Basement Gets Serenity Now

By Becky Harris

Neutral tones and custom storage infuse a family's newly finished basement with a restful air

Sponsored

Snider & Metcalf Interior Design, LTD

23 Reviews

Leading Interior Designers in Columbus, Ohio & Ponte Vedra, Florida

More Discussions

would you paint these built in ?

19

Should you list brands of products used in a home renovation?

10

Will this kitchen reno ideawork or will it just look and feel awkward?

8

This is a new one for RE listing

10

Which shower pan would you choose with this marble-look wall tile?

4