ROI for Basement Remodel: The Smart Money By A Santa Monica Realtor

Santa Monica REALTOR Michael Gentile offers advice on basement remodeling, and how it can boost your return of investment.

Image via WikipediaRemodeling a basement does not only add living space to one’s house but also return the investment for remodeling for more than 75%. The usual cost for basement remodeling is $62,000. In the country’s West regions, basements are not typical features of the home so it returns over 90% of the original cost. In Northeast and Midwest, basements are a common sight so it only accounts for a quarter less than the average return percentage.

Low construction cost for basement remodeling is responsible for huge returns of investment. The existing floors and walls knock down 10% to 15% of the construction cost. You need not worry yourself with zoning restrictions and property line setbacks for basement remodeling.

Take care of leaks, flooding and condensation before you remodel your basement. Fixing those can cost you from hundreds to thousands of dollars. It can affect your ROI but not doing it has its moldy and smelly consequences.

On a national average, a 20 by 30 ft with a full bath and wet bar construction cost is $62,067, while its resale value is $46,825, resulting to cost recoup of 75.4%

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