Egress Windows - Ideas and Words of Caution

[Pierre E.]

Hey. Looking to put an egress window in a basement. Found this video online that explains the process pretty well from a construction standpoint but what about from an investor standpoint? Any hiccups or issues or things to watch out for in selecting a contractor? Any thoughts on ROI for a property when doing this? (ie. when have you found it to be worth it for the cost? I am seeing estimates from 3k to 9k for even just basic window install)

[Scott M.]

Assuming you get the right contractor on board who is licensed (if your state requires it) and insured (property/property owner should be named on his insurance and you should let your insurance co know what is happening to make sure you are covered, if not, get covered first) you should be fine.  You are doing work to the foundation of the home so that is why you want to be sure you are on the contractors insurance and yours is up to date.  Even the best ones can run into an unforeseen issue and have a disaster.  

We have done this a few time on teardown/new builds as well as to exsisting rentals and have yet regretted it.  It adds light to the basement and makes a drab area nice, and yes it always adds value.  With an egress you count a basement bedroom and that adds value on both the rental and sales side.  The area the home is in, the current rent etc will determine if it is worth it on this specific property.  Run the numbers and it should paint a clear picture.