buying a home with little money in savings

The Basement's Role In Selling Your Home

by Fernando Moore

For all the year's that you have had your home, you may have planned to finish your basement. Alas, you never got past the wishing stage. Now that you are planning to sell your home, you have to face the fact that your basement is still a little sad looking. Before you put the house on the market, you should consider making over the basement.

The Housing Market

When it comes to this issue, experts frequently disagree on whether the basement helps sell the home. The answer is that it depends partly on your particular housing market. The extra living space that a finished basement offers can be a big inducement for potential buyers, especially in areas where the hunt for extra square footage is most important. Before you begin your remodeling project, consult with a local realtor for advice on this issue. They will know if the basement investment is worth the potential sales return.

Cost Effectiveness

Finishing your basement is a less expensive option than new construction or buying a larger home. In fact, finishing the basement should cost somewhere between $40 and $75 per square foot. Your other choices will cost $150 - $200 a square foot. As a result, you can pass these savings on to buyers. Your sale price will not have to rise that much to recoup your investment, and the additional space should make your home a more attractive entry in certain markets.


The quality of the work needs to match that of the rest of your house, but you do not want to spend too much money. Most people are not interested in a luxury basement, and you will be unlikely to recoup your money if you overdo it.  Also, do-it-yourself efforts will not be attractive to buyers unless you are a skilled craftsperson. The project needs to be done professionally, or it shouldn't be done at all. An inferior job will cost you time and bring you no return. In fact, a poorly finished basement may cause buyers to pass on your home.

A finished basement can be a help in selling your home, but you need to be careful about your investment. Consult with experts before you commit to the project. You certainly do not want to waste time and money on a project that won't help you. If you do proceed, remake the basement professionally and on a budget.