Finished vs. Unfinished Basements: Getting Someone Else to Get the Job Done

When you are shopping for a home, there are lots of things to consider. One of those things is the basement. Does it have to be a home with a finished basement, or would you prefer to get a home with an empty basement and finish it yourself?

The biggest factor is that finishing a basement can turn out to be very expensive. You are unlikely to get back the money you spent when the time comes to sell the property. In fact, according to the 2007 Remodeling Magazine report, the money spent on remodeling a basement will only get you about 75% return on your dollar when you sell your home. In other words, it is usually not a sound idea to buy a home with the basement unfinished and then plan to finish it yourself.

The way it works out, then, is that in most cases when you are looking for a home with a basement, it’s advantageous to find a home that already has the work completed. It’s the opposite side of the same coin that says it doesn’t pay for the seller to spend the money on the job: when you are the buyer you are in a position to get the bargain because of that.

Besides saving yourself time and expense, there are other reasons for choosing a home with a finished basement. Basements that aren’t finished tend to get damp and can accumulate mold. Unused and neglected, they can become very unpleasant places. If the basement is in a usable and attractive condition for daily activities, it’s a different situation entirely. Another thing to consider is that basements that are entirely below ground level are generally pretty stable in terms of temperature. They tend to keep warm in the winter and cool in the summer, which means that you’ll spend less on heating and air conditioning if you spend some of your time hanging out in the downstairs area that is easier to keep at a comfortable temperature.

A finished basement provides additional living space. Gone are the days when basements were only used for storage. A finished basement can be turned into additional bedrooms, game rooms, a laundry room, a large living room, or just about anything.

If you live in an area where tornadoes have to be taken into account like the Midwest, basements are also the place to take shelter from severe weather. The anxiety of having to go into a shelter with a tornado in the vicinity can be frightening for a child, and a pleasant, accommodating space can help ease anxieties and make the ordeal better for everyone.

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 come out ahead of the game.

This information was provided by Automated Homefinder, your Colorado real estate experts.

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