Elite QandA


Does unfinished basement count as square footage?


  1. Does unfinished basement count as square footage?
  2. How much is an unfinished basement worth in an appraisal?
  3. How much does basement square footage worth?
  4. How do you appraise an unfinished basement?
  5. Do unfinished basements add value?
  6. Does an unfinished basement add value to a house?

Does unfinished basement count as square footage?

Do Unfinished Rooms Like Basements And Attics Count Toward Total Square Footage? Unfinished basements and attics should not be included in a house's total square footage. But if an attic or loft space is finished and accessible by stairs, it can be counted.

How much is an unfinished basement worth in an appraisal?

“If the house is [priced at] $500,000 with an unfinished basement, and it's a 1,000-square-foot basement, then I know that there's at least $50,000 to $75,000 of value in that basement,” says Terrell.

How much does basement square footage worth?

“Generally during a home appraisal, basement square footage is valued at 50% – 60% of the value of the above grade square footage (the rest of your home), so by keeping your basement budget under 10% of your home value, you'll ensure that it's adding value and not costing too much,” he says.

How do you appraise an unfinished basement?

As you consider the value of basements, keep these important steps and quick tips in mind.Separate basement from finished area. Do not roll basement into total square footage. Distinguish between finished and unfinished. Research your location. Use comps with finished basements. Use recent comp sales.Sep 4, 2018

Do unfinished basements add value?

In terms of home value, a finished basement is not as valuable as improvements made to the main floor living space, like adding an above-grade bedroom or upgrading your kitchen. Just because a basement is unfinished does not mean that the space is a problem.

Does an unfinished basement add value to a house?

In terms of home value, a finished basement is not as valuable as improvements made to the main floor living space, like adding an above-grade bedroom or upgrading your kitchen. Just because a basement is unfinished does not mean that the space is a problem.



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