Remember Me
forgot your password?

Finished Vs. Unfinished Basements: Getting Someone Else to Get it Done

Buying real estate always seems to involve making more decisions than you ever thought necessary, or even possible. One such decision, often overlooked or taken for granted, is the question of the finish condition for the basement. Assuming you are buying in an area where basements are the norm, and not in a place such as Southern California where no one has them, you can take it to the bank that having a basement is a definite advantage, both for living in the home and when it comes to resale. So yes, you should get a house with a basement. Now for the more often overlooked question: should it be a home with a basement that is already finished, or would it be better to get a home with an empty basement and finish it yourself?

The answer, especially if you have a do-it-yourself orientation, may surprise you. Finishing a basement can be surprisingly expensive, and you're unlikely to recover your money when it comes time to sell the house. In fact, what you have to shell out in order to remodel a basement will only get you about 75% return on the dollar at resale. The bottom line is that it is not the best plan to look for a house with an unfinished basement and then plan to finish it later. So, when you're buying a home, it's smarter to find a house that has the basement work completed. It's the other side of the coin that says it doesn't pay for the seller to spend that money on the job. As the buyer, you come out ahead because of that simple fact.

Besides the likelihood of saving yourself time and expense, there are other reasons for choosing a home with an already-finished basement. It's easy to say you're going to finish the basement, but it's a big job that tends to get put off. There are lots of homes for sale -- old homes -- with "someday we'll get it done" basements. Unfinished, unused basements can get damp and moldy. They are often unpleasant places, and can become health hazards.

On the side of advantages to be gained by having the basement finished and using it, it's a fact that basements tend to be more easily controlled in maintaining livable temperatures. They keep relatively warm in the winter and cool in the summer, which means that you'll spend less on heating and air conditioning if you spend time actually using that downstairs space.

A usable, functional basement provides useful living space. Basements are no longer just places for storage of unused items. A well finished basement can be used for additional bedrooms, game rooms, a hobby room, a living room, or places to exercise.

If you live in a place where tornadoes might be a danger like the Midwest, basements are also the best place to take shelter when a storm threatens. The need to take shelter with a tornado approaching can be frightening especially for a child, and a comfortable, accommodating space can help ease anxieties and make the ordeal more tolerable for the entire family.

So when you buy your next piece of real estate, do yourself a favor and look for a home with a finished basement. Take advantage of someone else having done the work and you will be the one to be ahead.

Joel McDonald
Joel McDonald recommends Automated Homefinder, your Colorado Castle Rock real estate specialists.
Rate this Article: 0 / 5 stars - 0 vote(s)
Print Email Re-Publish

Add new Comment



Captcha

  • Latest Real Estate Articles
  • More from Joel McDonald

Real Estate Properties And Negotiating Lease Periods In Your Legal Forms

By: james kahn | 30/12/2009
The real estate properties are certainly a great medium to earn lots of profit. You will be able to earn lots of profit if you buy the real estate properties and then sell it to earn some profit. The coming year will certainly see that the real estate sector will increase four fold. This is quite certain and you will be the winner at any cost. Some of the properties certainly are costly as compared to the other properties.

Lead Generation Forms Many Potential Sales Opportunities For A Landlord Or Seller

By: james kahn | 30/12/2009
It takes a lot of work to get a piece of real estate sold. Make sure you are educated about the entire process before you get in the middle of it.

Real Estate Forms, The Real Estate Negotiation

By: james kahn | 30/12/2009
This article talks about the different steps and people that are involved in a real estate negotiation

Different Real Estate Professions

By: james kahn | 30/12/2009
There are numerous professions withing the real estate industry. This article provides you with information about a few of them.

Different Forms Associated With Real Estate Lease Forms

By: james kahn | 30/12/2009
You can move to any field but you will find out that the real estate forms are certainly very important. Let me tell you one thing that the real estate forms are available on various websites and you can get it at a very low cost.

Information About Real Estate Attorneys And Real Estate Forms

By: james kahn | 30/12/2009
Let me tell you one thing that the real estate attorneys are certainly quite great and they are the one who are the commander of the real estate teams. You will have to take their help if you want to get signed any form which is related to the land lease forms. In this article you will find the material which will explain the situation when you will need the attorneys.

Landlord Forms And Property Values Are Directly Related To One Another

By: james kahn | 30/12/2009
Property values is one of the very important things related to the sale of property.

Luxury Properties And Lease Forms

By: james kahn | 30/12/2009
Rental properties should be situated in the healthy environment if you want to earn more rent. The rental agreement is signed between the tenant and the landlord. However the luxury properties need some additional points.

Child Proofing Your Living Room Can Prevent Accidents

By: Joel McDonald | 21/12/2009 | Home Improvement
Whether you are listing your home for sale, or just have a young child in the household, there are a few things to consider in placement of certain furniture, electrical cords and precious breakables, including televisions and other electronic gadgetry. Many people don't think about the damage a young child...

Properly Winterize Your Lawn Sprinkler System

By: Joel McDonald | 21/12/2009 | Home Improvement
When it comes to lawn sprinkler systems, they are great for taking care of your lawn during the hot summer months, but when it comes to the winter months, they can create a large expense, if they aren't drained properly. When it comes to winterizing your lawn sprinkler system, they...

Figuring Out If You Have Enough of a Down Payment

By: Joel McDonald | 21/12/2009 | Real Estate
When it comes to figuring our whether you have enough money to buy a home, the down payment is normally the biggest stumbling block. Some buyers mistakenly think they have to have 20% down and this is true, if you want to avoid the Private Mortgage Insurance or PMI fee...

How to Find a Property Management Company to Rent Your Home

By: Joel McDonald | 21/12/2009 | Real Estate
There are several things to consider if you are an existing homeowner that is thinking about taking advantage of the current tax incentive for purchasing another home. The help with the down payment might mean that you would rent your existing home out to make the payment on it. If...

Six Advantages in Buying a Foreclosed Home

By: Joel McDonald | 21/12/2009 | Real Estate
When a homeowner defaults on his mortgage payment, the lender has the right to take over the house and sell it to realize the debt. This process is known as foreclosure and in a depressed property market; foreclosed properties often present attractive opportunities to buy homes at affordable prices. Because...

Capitalization Rates and How They Work

By: Joel McDonald | 21/12/2009 | Finance
A capitalization rate is a measure commonly used in real estate investment especially in the acquisition of income properties. The rate measures return on investment and allows the investor to compare various forms of investment in order to decide where he is going to put his money. It is one...

What is a Capital Gain?

By: Joel McDonald | 21/12/2009 | Finance
Many assets increase in value over a period of time and this process is called capital appreciation. When these assets are sold, the surplus that is realized over and above the cost of the asset is called a capital gain. If I buy a house for $50,000 and then sell...

The Big Advantage of Buying a Home Pre-foreclosure

By: Joel McDonald | 21/12/2009 | Real Estate
Everybody talks about how buying a home pre-foreclosure as multiple advantages of large discounts on the marketplace up to 50%, a lower down payment, more time to inspect the house and so on. It is true that buying a home pre-foreclosure can often be advantageous but, as with any form...

Submit Your Articles Free: Signup
Article Categories




Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (0.05, 1, w2)