Homeowners often wonder if it is worth finishing the basement in their home, especially if they plan on selling it in the near future. Many home buyers like finished basements when looking for a home but is it worth the expense for the seller? Some homeowners choose to hire a professional contractor to finish their basement while others finish the basement themselves. Regardless who does the work, the basement must be permitted by the Pikes Peak Regional Building Department. The cost to finish the basement will vary depending on the size but homeowners can plan on it costing somewhere around $15,000 to $25,000 if they hire a professional. If the homeowner finishes the basement, it will be less expensive but may take a lot of time!
Homeowners can break even but many may not recoup the cost spent to finish a basement dollar for dollar due to the current real estate market in Colorado Springs. In a good market, many homes could sell for around $15,000 to 20,000 more with a full finished basement when compared to homes of the same model with an unfinished basement. Making a profit or recouping the cost on a basement finish is dependent on many factors including the quality of finish, type of house, area of town, and the real estate market.
If you are considering finishing your basement and not sure if it is worthwhile, check with your real estate agent in Colorado Springs for additional advice. If you plan on living in the home for a few years and could use the expansion space, finishing the basement may not be a bad idea. It may not always be about the expense with every homeowner, some finish their basement just to enjoy it!