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All Forum Posts by: Kenny Smith

Kenny Smith has started 63 posts and replied 321 times.

Post: Where should my money go?

Kenny SmithPosted
  • Real Estate Agent
  • Denver, CO
  • Posts 330
  • Votes 221

Take a look at the height requirements for a livable space in your municipality.  You can look on the building department's website or give them a call.  Are you trying to rent out the basement space, is that why you're asking about an e-gress window?  You won't need any egress window unless there is a bedroom downstairs.  To be considered a bedroom, a basement room needs a closet and an egress window.

If you are planning on renting out the basement in some way, I think that is your best bet to put your money for now.  If the other items you'd like to upgrade are acceptable, I'd wait.  Or, if you can't renovate the basement into a habitable space, do a cost analysis of what your renovations will run you, and expected rent after renovations are complete.  Then check with the difference between current rent and after reno rent, and how long it would take to get your money back (cash on cash return).  If its over a couple years out, may just want to save your money for other investments.  Just my opinion!