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Old 01-15-2012, 09:26 AM   #1
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Basement apt floor plan and its worth


From a basement for storage, to a 1 bedroom, with a living room, and a bathroom laundry room combo + 1 new exterior exit. Can anyone estimate how much this should add to the value of the home?

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Old 01-15-2012, 09:31 AM   #2
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Basement apt floor plan and its worth


A penny, a gazillion bucks. Really there is no way to know. This is why you should work with a Realtor and let them tell you. Are there other homes in your neighborhood with an apartment in the basement? Also keep in mind that since you are placing a secondary living space in the basement, there is more than just slapping it together and being done. Most areas require separate hvac for that space, along with some other factors. Also may require you to install some type of fire suppression system and lighting for pathway to the escape route.

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Old 01-15-2012, 09:42 AM   #3
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Basement apt floor plan and its worth


Not as much as your thinking probably. As stated above there is alot more that goes into getting a second occupancy permit than slapping up some walls. After you factor the initial cost the return will likely be small, plus someone will be living in your basement...
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Old 01-15-2012, 09:42 AM   #4
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$23,687.35.

A price direct from my bum.

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Old 01-15-2012, 10:00 AM   #5
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Andy has spoken---we now have the answer---
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Old 01-15-2012, 10:04 AM   #6
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Andy has spoken---we now have the answer---

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Recognition.




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Old 01-15-2012, 10:15 AM   #7
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There you go Andy.....its about time you get the respect that you deserve
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Old 01-15-2012, 11:38 AM   #8
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I know you're not asking how much to build it, but similar issues apply.

"How much will it cost?" Asking for price estimates here.
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Old 01-15-2012, 11:42 AM   #9
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Old 01-15-2012, 11:44 AM   #10
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Yeah, but we like you that way
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Old 01-15-2012, 12:04 PM   #11
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Thanks, but no thanks!
I spend way too much time on this site as it is. I should be cleaning out my fireplace insert right now. Just plain procrastinating.
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Old 01-15-2012, 12:36 PM   #12
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Basement apt floor plan and its worth


Quote:
Originally Posted by styleten View Post
.... Can anyone estimate how much this should add to the value of the home?....



Even though the question is one of "how much increased value?", the principles below still hold true, in addition to the added factor of: greatly varying local property value scales (they are different everywhere).


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Thank you for posting your question on the DIY Chatroom.
Quote:

Questions involving pricing, such as – “How Much” certain projects cost (i.e. - certain repairs, renovations, square-footage pricing, an addition, a decks, etc., etc.) – cannot be properly answered simply by information posted on an internet forum (regardless of how much information is supplied in a particular post). There are many, many variables, which also involve site visit(s), existing conditions, final designs, local-rates, material preferences, etc.

Pricing for materials may be determined at your local supplier(s). Prices for subcontracted work are best determined by getting legitimate local contractors to submit written estimates (3 are suggested) and always checking references.
The industry generally suggests allowing a minimum of 20% buffer, over the assumed budget, for incidentals, unexpected points, material overages, etc.

We encourage you to continue to post other DIY related questions on this site.

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