Will finishing your basement add value to your home? Technically, no. However, there are some good reasons to finish your basement anyway.
Will finishing your basement add value to your home? Lots of homeowners are looking for ways to spruce up their houses before they hit the market, but this improvement might not be the best choice.
First, let’s go over how you determine your home’s value. If you are refinancing or selling your home, an appraiser or real estate agent would first look at similar houses that sold nearby. Then they would compare homes with a finished basement to homes with an unfinished basement.
If the values are pretty much the same, finishing your basement wouldn’t add much, which is the trend we’re seeing in Oakland County and Metro Detroit.
However, there are good reasons to add a finished basement. The big one is that you’ll enjoy it! A finished basement will make your home more pleasant and comfortable; appraisers can’t put a price on that. The second reason is that a finished basement will make your home more desirable to buyers and help it sell faster.
If you’d like to know your home’s value, follow this link. If you want to figure out how you can add more value to your home, watch this video. Of course, if you have any other real estate questions, feel free to call or email us.