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Here is my new house!

Randy James, "RandyJames"
Contributions: 16

Randy James, "RandyJames"

Seattle

Contributions: 16

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Should I finish the basement, or add more to the second story?

Question refers to 743 N 77th St, Seattle, WA 98103

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February 12 2008 - Greenwood

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Answers (2)

Randy James, "RandyJames"
Contributions: 16

Randy James, "RandyJames"

Seattle

Contributions: 16

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Thanks. This is good advice. Clearly the hvac/electrical/bathroom upgrades will be at the top of my list. I already have a new power panel. Just need to get new wiring throughout.

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March 28 2008

Daniel Allred, "Equity Simple"
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Daniel Allred, "Equity Simple"

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Randy,

Finishing your basement will add ?utility value? and increased personal enjoyment ? but only take on the hassle if you plan on enjoying it yourself for years to come. Projects like this statistically don?t pay for themselves if your plan is to turn around and sell. Same for the upstairs: structural improvements may take more time and money than expected ? with low return on the investment. There are many, many other things you can do for real equity increases. Matching the neighborhood standard is the best way to be sure.

Without a walkthrough of your home, I would suggest a second bathroom. The average bed to bath ratio for your area is 3 to 1.75. Four bedrooms and one ?powder room? can be pretty annoying by modern standards. And avoid thinking about putting it upstairs - a contractor's dream and your nightmare. It will easily take longer and cost more!

Your 1922 home will more than appreciate electrical, plumbing, and HVAC updates if they?re not already modernized. In North Seattle, these projects usually pay for themselves and always increase buyer appeal. If your roof has its own ecosystem get three estimates for that, too!

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