Rehabbing & House Flipping
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,
Thinking about finishing the basement, how do these numbers look
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