Basement Renovation for Refinance

[Phillip Mondestin]

Hi,

I own a two-family house that I bought two years ago. I used one unit as a primary residence and rent out the other. It also came with a semi-finished basement.

I am now looking to refinance and I’m wondering whether to renovate the basement. I would update the electrical, add a bathroom and a laundry room.

Before I spend money and invest in a project like this I wanted to understand what value it would add to the property.

What would be the best way of going about this?