Basements have come a long way from the dark, damp storage areas of decades ago, to become fancy “lower-level living spaces.”
Finishing a basement can be a good investment. In 2008, midrange basement remodels yielded a return of 72.9 cents on the dollar— a better return than on some other home improvement projects, according to an annual Remodeling magazine study.
However, when you consider that finishing a midrange basement after you move in can run upwards of $60,000, according to the study, that means a loss of about $16,000 not long after the drywall is hung.
Many home buyers know that purchasing a home with the basement already finished is actually a much better deal (the previous owner’s loss is your gain), plus you save yourself the hassle of going through the renovations yourself. Just move right in and enjoy your added living space.
— by CurryMedia.com