Thinking about finishing the basement, how do these numbers look

[Marc Roberson]

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

[Marc Roberson]

Some things need to be cleared up.

There is no subconscious agenda. They are not getting a commission. I just bought it. I am also a licensed broker in this state. The numbers are legit. But thank you for pointing out how they could just be deceiving me. I wouldnt post those numbers if i even thought they were. Even the builder himself said he would have priced it higher had he known the market would have risen.

The "comp" is what my home would be most like - between 2700 and 2800sf finished. Thats why I used it. I needed a comp to see what the closest 5 bed, 3 bath .17-.19 Ranch with finished basement was going for. BOTH homes have one main level and one basement level.

Why would I try to compare a 3 bed 2 bath and try to comp it against a 5 bed 3 bath? Of course they are nothing alike as of now.