Hi everyone, we live in a ~1300 sqft house and would like a little more living space rather than go through the effort and cost of moving to a bigger house. We have a couple of options to do this without adding a full addition.

Option 1: finish basement. Basement is partially finished and has a full bath already. HVAC system already linked in with the rest of the house, electrical outlets installed, etc. Right now we are not using this space for anything besides laundry and some storage. I don't think a whole lot needs to be done to finish the space, it needs flooring, drop ceiling, insulation and drywall. It does not have an egress, and I've seen conflicting information about if we actually need to install one or not. Cost should be about $10k, maybe even less from what I've been able to research but we haven't gotten a formal estimate yet. Main downside is that we would not get a ton of usable space from this. We could probably fit a desk/office setup, maybe a TV and small couch in there once everything is said and done.

Option 2: Enclose covered patio to create sunroom. A lot of our neighbors with the same house have done this over the years. The roof and supports are already existing so that should help keep the cost down a bit. Needs walls, insulation, concrete slab (not sure if necessary, there are brick pavers there now), flooring, windows, door, etc. Would provide more usable space than finishing the basement would and it would be nice to have that space be at ground level. Would use as an office/rec room. Cost would probably be around $15-20k?

Can anyone give us any guidance or advice on this? Am I totally underestimating the work that would go into these projects? Thanks!