Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Rehabbing & House Flipping
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 3 years ago,

User Stats

56
Posts
17
Votes
Marc Roberson
  • Real Estate Agent
  • Wellington, CO
17
Votes |
56
Posts

Thinking about finishing the basement, how do these numbers look

Marc Roberson
  • Real Estate Agent
  • Wellington, CO
Posted

Hello all, ty for reading. ill throw out all the numbers i know so far

PP of my house was 434k a few months ago. it is a new build, 3 bed 2 bath ranch 3 car garage and 1480 above grade finished with a basement the same size on .17. Had two other realtor's price it at about 460-465k right now. nearest comp (5 bed 3 bath, 2700-2800sf 3 car garage ranch) came in at 510k but had about a 200sqft front porch and .19 acres instead of .17 like mine. so since i have a 3 bed 2 bath, id finish the basement which DIY would cost no more than 15k if i finished 1000sqft of it to keep some for storage but to also add 2 bed and one bath. so if value now is at 465k and it would only get it to 490k, and i spent 15k to do it, that might mean a gain of 25k in valuie. worth it? long term plan is to keep the house, do a heloc to take out enough to buy a 4-6 MF income producing property in a different state where i grew up OR just outright sell the house in one or two years. thoughts? need more info? northern colorado market

Loading replies...