Does Basement Finishing in Long Island Increase Home Value?

One of the top things that people consider is whether they will actually add value to their home if the basement finishing in Long Island is completed. Also, if they do the renovation how much value can they expect to be added to their home. Finishing a basement definitely could add more living space to the home. It can be a place where the family comes together, a man cave, exercise room, a room for a child to play or even act as an additional bedroom.

Basement Finishing on Long Island

Can Basement Finishing in Long Island Add Any Value

You will be happy to know that basement remodeling in Long Island can definitely add value to the home. One thing that you must keep in mind is you may not receive every dollar back from the renovation when you attempt to sell the house. Basements are usually valued differently than regular living space. So, this may be fine for some homeowners and not good for others. Basements can be a great way to add additional space for a multitude of things. Choosing to do the basement finishing will cost less than doing an aboveground addition. The basement already has the major things in place, like the plumbing, installation and more.


How Basements are Valued

Basements are not valued on the same scale as the regular parts of the home. When an appraiser values a home, they place the basement in a compartment by itself. The value of the basement is about fifty to seventy percent of the above ground value. It is best to speak to a professional about the value of the basement finishing in Long Island before actually starting the project. By doing this, the homeowner will have a better understanding of what amount should be expected. Contacting an appraiser or local real-estate agent would be highly advised.


Kinds of Basements

The kind of basement will also determine the value that is placed on it. A full walk-out basement is a basement that will have the highest value placed on it. This basement has regular sized windows and a full door to walk out of.

A partial drop in grade may or may not have the full door because the land will not allow it. It will have some natural light. It will not look as good as the full walk-out basement.

A non-walkout basement is the least desirable because it has no natural light. There are four concrete walls.

Basement remodeling in Long Island can cause an added value to the home and cause it to have more livable space.

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