Considering The Basement Question -- Finish It Or Not?
One of last things that might occur to you to worry about, when you are looking for a new home, is the kind of basement you want. Do you want to buy a home with a finished basement, or would it be better to have a home with the basement in an unfinished condition and do the work yourself?
Finishing a basement can be very costly. You are unlikely to recover your money when you sell your property. In fact, paying to finish a basement (national average) will only get you about 75% return on your dollar on resale. The bottom line is that it is a losing proposition to look for a home with an unfinished basement and then do the work on your own.
So, when you are looking for, it's advantageous to look for a home that has the basement work completed. It's the other side of the same proposition that says it doesn't pay for the seller to spend make the investment on the work. When you are the buyer, you are getting a bargain due to that simple fact of life.
Having bought the home with the intention of refinishing, and then not getting around to it or deciding the job is too expensive, there can be a tendency to just let it stay unfinished. "Out of sight, out of mind." Unfinished basements can get wet and can accumulate mold and mildew. They are often unpleasant places, and can even become unhealthful.
Besides the aspect of saving yourself the time and expense of doing the ob yourself, there are other reasons for choosing a home with an already-done basement as usable living space. Basements that are entirely below ground level are generally relatively stable in terms of temperature. They stay warm in the winter and cool in the summer, which means that you'll spend less on heating and air conditioning if you spend more of your time hanging out downstairs.
A finished basement provides more living space. Basements are no longer just used for storage of unused items. A well finished basement can provide space for more bedrooms, a rec room, a laundry room, a living room, or just about anything. Another good thing about having a functional basement is that it can make a perfect apartment or suite for an older family member who can no longer live completely independently or for an adult child who has come back to live.
If you live in a place where tornadoes have to be taken into account like the Midwest, basements are also the best place to take refuge from the storm. The anxiety of having to go into a shelter with a tornado in the vicinity can be frightening, and a pleasant and familiar space can help ease anxieties and make it more tolerable for the whole family.
So when you buy your next piece of real estate, do yourself a favor and look for a home with a finished basement. Let someone else do the work -- you can enjoy the benefits of their labor.
Article presented by the Longmont real estate specialists in Colorado, Automated Homefinder.