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HOW CAN WE RECOUP THE MONEY WE INVEST IN THIS PROJECT?
Realtors and Investment Analysts agree that besides kitchen and bath renovations, Finished Basements provide the biggest
return on homeowners' investments. Take this example from Remodeling Magazine, 11-20-02
The National Average for a 788
Square foot basement would be $43,112.00 with a resale value of $33,911.00. The cost recouped by the homeowner would then
be 79%.
Now consider that JH Basement Finish comes in approximately 30-32% below the National Average; this means
you will show a net profit of approximately 20% when you finish your basement with our company. This profit can be increased
even more dramatically when you decide to add a kitchen or Wet-Bar area.
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WHAT
IF WE DECIDE TO MOVE, HOW WILL FINISHING OUR BASEMENT AFFECT THE RESALE?
According to MoneySense, March 29, 2004,
the answer is as follows:
"If you can complete the basement you will increase the sale ability and price of your home...stick
with an open concept floor plan, and perhaps add a bedroom/office with French doors if the space permits, finish the bathroom
also...
A lot of people do not have the money to spend after making such a large purchase, so the fact of having
a home that is totally finished (keep in mind that workmanship must be good) will definitely be a plus!"
"Most people
do not have the time, energy, finances, knowledge, etc to renovate so if it's done with quality the home is more attractive,
gets a better price, and sells quicker. Consider...planning for an apartment. Parents are living longer, kids are staying
at home to obtain an education so it is a really smart idea. If those situations don't fit you then you could rent it out
or visitors to your home can have complete privacy."
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WHY NOT AN ADDITION AS OPPOSED TO FINISHING OUR BASEMENT?
According to Home Plan Finder the cost of adding square footage to your home in the construction stage or in an addition
is as follows:
For this region of the country the low price per square foot is $70.90, the medium price per square
foot is $96.90 and the high price per square foot is $120.90.
Since the national average for completely finishing
your basement is between $30.00 and $70.00 a square foot; it is easy to see why this is a much better choice in adding additional
square footage to your home.
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