# How much does a finish basement add to value of house

• November 01 2011 - US
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# Answers (8)

All the answer were good, however as a realtor and a licensed appraiser that is a difficult question to answer.  How much value depends on a lot of things.  Things that have to be taken into consideration are the area that the property is located in, the square footage of the finished area.  The height of the basement ceiling,  The amount of partitioned walls.  Is there proper ingress and egress. The quality of the finishes.  To simply state a dollor figure without knowing all the details can be dangerous.  I have seen basement with minimal basic finishes for a low at \$15 per square foot and as high as \$70 per square foot and up.
• November 01 2011
• 0Yes

• 41 contributions
Typically an unfinished basement adds \$20-30 per square foot and if it is finished it will add another \$20-30. An 800 square foot basement would add \$30,000-40000 depending on location.
• November 01 2011
• 1Yes

The 20 to 30 \$/sq ft value is in line with the averages from the web site I mentioned previously.  In our case, we had a 685 sq ft finished basement for \$25,000.  Regional average return on investment is 56% or \$14,000 which comes out to 20.4 \$/sq ft.

The national average return was 70% which would put our basement return on investment at \$17,500, or 25.5 \$/sq ft.
• November 01 2011
• 0Yes

Please understand this is my opinion and I am not an appraiser.  To simplify square footage below grade (in the basement) is valued at \$ 20.00 to \$ 30.00 per foot.
• November 01 2011
• 0Yes

It depends on several factors.  A walk-out basement is more valuable than a regular under-ground basement.  The amount of square feet is also a factor.  Whether you add a bath will affect the value, too.  To answer the question accurately, one would need to see the basement finished.

• November 01 2011
• 0Yes

Go to this link to get current averages for return on investment.  I found the web site very useful when trying to factor in improvements to my house:

http://www.remodeling.hw.net/2010/costvsvalue/article/basementremodel.aspx

The web site lets you select a region and has return on investment for a number of improvement projects.  The web site reports a national average for 2010-2011 for finished basements of 70%.  So, if you put in 50,000 your return on investment would be 35,000.  This is in line with other web sites I have come across.  The regional return could be quite a bit different than the national average.
• November 01 2011
• 0Yes

Thats hard to quantify. Partly it will depend on how typical it is to have a basement in your area. If all the homes have them then you can look at
similar compareable properties and come up with the estimated value of the home. You might also contact a local appraiser and ask how much they aadd for a finished basement.
• November 01 2011
• 0Yes

Depends on what you add to the basement. You may get twice as much value back by adding a bedroom, bathroom, family room. Utilize the finished space to add benefits to your home.
• November 01 2011
• 1Yes