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Captplaid
How much does adding rooms to the basement add to the value of a house?

We just got finished adding adding a 20 X 24 bedroom to the basement. Laminate flooring, oak trim, and drywall. We did the labor ourselves. Looks good. All together, I would guess there is $1,600 in materials in the room. Family room in the basement which we finished last year has about $3,500 in it. Maybe $4,000. About 850 sq ft.

I would guess the family room adds $10,000 and the bedroom adds $5,000.

I would also guess the cost would have been more than that if labor was paid for.

What's the GB.com opinion on the subject?
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Comments

7 comments

Date Votes
  • LOKO383
    Capt..where I live, Ohio..appraiser doesn't count the basement as living space in your sq. footage.kinda makes you mad when you fix up your basement and the app. comes and gives ya diddly for the work and effort let alone the money you spent..Loko [V]
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  • Captplaid
    Really? I guess every area is different. I thought around here, you cannot count it if it is part of the basement, but if the entire basement is finished off, then the Realtor counts it.

    I have seen it where some count a single room in the basement. Our house in Granite City had a nice little office in the basement, but the rest was unfinished. It wasn't counted under total square footage, but it still added some value to the house.

    Some realtors up by Rockford don't list total square footage anymore. Too much liability.
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  • He Dog
    Kitchen will net you the most for a remodel, and you essentially put more in that you realize in the rest of the house.
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  • LOKO383
    Capt..it does add some value,but from what I have seen.[worked part time for an appraiser for 6 yrs] you never get your money back on the basement..HeDog is right about the kitchen..best bang for your buck..Loko [:D]
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  • select-fire
    Any liveable SF will add value to your home.
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  • slipgate
    Sorry, but this is a pet peeve of mine. People finish off their basement and what do they build? A bedroom. Could we get more boring? I guess if you really need another bedroom. But there is so much more that can be done with a basement. How about a home theater? I guarentee if you build that, you will not go to out to the movies much more. Or a game room - pool table, bar, etc? Perhaps a woodshop? A "man-cave"? Cigar room?

    No offense intended, but there is so much more that can be done that adding a 5th bedroom to the house.
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  • select-fire
    Our finished basement in the old house was a Pool Room/ Game room with pinball machines/ exercise machines /bar... party city. Other end was a Family room with a big tv. Be carefull though.. them steps are killer when intoxicated.. PS.. the pool table is hard when sleeping on it.. AND don't forget to turn off the stereo.. it makes the boss angry..
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