The short answer, yes. There are really a couple different ways to look at it.
Historically, studies have shown that you will recoup 75% of your direct investment. So if you invest $10,000 in a finished basement you might expect your home value to increase by $7,500. Based on this formula, you could say that the remaining 25% is the opportunity cost of having that space to enjoy.
Yet there is a much more compelling reason why finishing your basement can actually yield far greater results than what these historical studies have shown.
Consider what circumstances you will be facing when selling your home. It’s almost certain that similar homes in your neighborhood will be for sale at the same time. How are you going to set yourself apart?
All other things being equal, the home with the finished basement will stand out. Most homeowners don’t have finished basements in St. Louis. So when potential buyers see your beautifully designed, finished basement, they will certainly hold your home in higher esteem than your neighbors whose basements are unfinished and unusable.
This could be the difference in your home selling quickly, or it sitting on the market for months and months. It’s a difficult environment to sell your house in, and things don’t look to be getting a whole lot better any time soon. You really have to use every tool at your disposal to increase the value and attractiveness of your home to potential buyers.
We are specialists in basement finishing in St. Louis and surrounding areas. Please contact John for a free consultation, custom design and estimate for you basement!