Finishing My Basement
Is it worth it to make my basement into a studio apt? How much will the property increase by?
Is it worth it to make my basement into a studio apt? How much will the property increase by?
well it will definatly increase the value of the property and make it a little more marketible but it will not count as another bedroom or any added square footage. This is like a raised ranch. usually they say they are x square feet when in reality they are double. This doesnt not affect the value of a raised ranch because when you think raised ranch you assume the bottom will be finished because 95% of them are.
The bottom line is that it will give you the obvious, more space, it will increase the value a little bit, and it will make it more marketable. will it increase as much as it cost you do built? probably.
yes but its all relative. They will apraise it as whatever it "best use" is and that is how they will find the value. if they see it as a sigle family whether you rent it or not it doesnt make a difference. if there was a sigle fam in the middle off 100 multi then it may be affected