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Old 08-26-2016, 09:21 PM   #1
Calgary14
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Default Basement Development - Worth The Cost?

I am thinking of having our basement developed, it is currently undeveloped aside from electrical already completed. It is about 700 square feet. The house is a typical two story, 3 bedroom, 2.5 bathroom house. It would cost about $40k to have the basement developed.

The basement would add another bedroom, full bathroom and rec room.

In general is it worth the investment to have a basement developed or do most buyers prefer an undeveloped basement so they can customize it?

If a homeowner spent $40k on developing the basement, would they get the $40k back if they decided to sell their house in 5-8 years by adding it onto the list price?
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Old 08-27-2016, 07:03 AM   #2
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Originally Posted by Calgary14 View Post

In general is it worth the investment to have a basement developed or do most buyers prefer an undeveloped basement so they can customize it?
Very dependent on the buyer. I would love to buy a house with a developed so that I don't have to waste my time and energy with the project and live in a construction zone for weeks or months. But, I'm also really particular about how I would want the design/layout and the materials that are used. So it would be easy for me to walk away from a house because I didn't like the basement development.

I think the majority of buyers would be happy with any sort of developed basement though.

Last edited by calgarygeologist; 08-27-2016 at 07:16 AM.
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Old 08-27-2016, 03:12 PM   #3
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Most of the time you see your money back. Don't expect to make anything extra for having it finished therefore only develop if it is practical for your current lifestyle.

$40k sounds expensive for 700 sq ft of development unless it is a luxurious home and you are carrying the finishings to the basement to match the rest of the house.
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Old 08-28-2016, 07:56 AM   #4
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Thanks for the info. I think it would be best to go with a layout that is practical and appealing to potential buyers (young families) but also works for us. And you're right, $40k does sound high after reading some price info online. It definitely is not luxurious so probably best to get other quotes
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