I am remodeling a house and was thinking of adding a few extras. I am finishing the basement and thought of adding one room down there as a wine room with wine racks and an island. is this something that would raise the value of the house, or is that just something for a very expensive place? this is a middle class house in Pittsburgh. If it isn't worth doing, what are some ideas for rooms that would up the resale value?
2007-05-31 03:12:33 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The only way the wine room would pay off is if your buyer was a wine lover, and even that is a stretch.
HGTV has some great ideas on their website, most of the articles are titled something like "10 ways to make your house worth more". Some of the articles even break down potential return on your investment.
What alot of people overlook is curb appeal. I can tell you that some people make a decision about a house when they pull in the driveway. Make sure the outside also looks appealing.
2007-05-31 04:33:09 · answer #1 · answered by godged 7 · 0⤊ 0⤋
A wine room is considered an extravagance, and you probably won't get back much of your initial investment. Base that on the fact that not a huge percentage of homeowners are wine afficionadoes. You need to approach this in considering what future owners might want and appreciate. Some ideas are additional living space in the form of a TV viewing area, a study, an area in which kids can play, or anything else which would appeal to someone looking at a potential purchase. Bear in mind, as well, that basement improvements do not add the same level of value appreciation as do at grade or above renovations or additions.
2007-05-31 03:22:30 · answer #2 · answered by acermill 7 · 0⤊ 0⤋
Anything above grade will be an improvement to your home. If you are looking for resale value do not put $$$ into your basement.
You cannot count bedrooms & bathrooms in a basement, no matter what a realtor tells you- it won't matter.
You may want to do a comparison of the higher end homes in your immediate area (a few blocks radius). You may notice that they may have more bedrooms, updated kitchen (high end), updated baths, new roof, newer furnace, garage (2 or 3 car)
These are the things that will matter on an appraisal for resale value.
2007-05-31 04:16:55 · answer #3 · answered by Deme21 2 · 0⤊ 0⤋
Forget the basement if you're selling. STICK TO THE BASICS. Value is added by updating rooms in order for the biggest return on your investment. They are:
1. Kitchen (reface cupboard doors if needed, new sink, etc)
2. Bathroom (counter top, sink, fixtures, mirrors, if needed)
3. Everything else is not worth a return unless you do it for yourself.
You don't have spend a fortune on these two rooms. Certainly
less than $1000. However when you sell, it will have been worth it. Hint: Go to the neighbors homes for sale and see what you are competing with. YOURS HAS TO BE MORE ATTRACTIVE!
A. Paint if needed (neutral)
B. De-clutter the entire house (make it look roomy) Rent storage space and get the stuff out.
C. Spend some time & money on landscaping (curb appeal)
When a buyer comes in for the first time, they visualize living there and what they have to do in terms of work and money. If you make it easy for them to see their comfort and enjoyment you will get more offers. If THEY SEE work & money, they will leave and NOT TELL YOU what bugs them. I know, it's weird that way. Good luck!
2007-05-31 03:40:14 · answer #4 · answered by Harley3000 2 · 0⤊ 0⤋
It depends on a lot of things actually. Like.. what state are you in? How many bathrooms does your place have? If you have 1 bathroom I would turn it into a sunroom. If you have 2 -2 1/2 baths then go for a 3rd bedroom. You also need to look at the other houses in the area. How many bedrooms do they have. If the area you are planning on using is big enough to make it a master suite with bathroom I would say that would be your best bet. But if it's smaller.. the sunroom. You might contact a couple realtors in your area and see what they think.
2016-05-17 12:22:41 · answer #5 · answered by ? 3 · 0⤊ 0⤋
stick to general open space. If you're looking to sell and you put in something specific like a wine room, you only add value if you happen to find someone who loves wine and has lots of it on hand, You are better off leaving the space as open as possible, then the potential buyers are free to imagine how they would configure and use that space, let them install the wine racks if that is how they choose to use it, or maybe someone will just want an extra TV room etc.
2007-05-31 03:19:50 · answer #6 · answered by Anonymous · 1⤊ 0⤋
Not worth it. Another bathroom, another bedroom, a den, all would appeal to more people then a wine room.
2007-05-31 03:22:01 · answer #7 · answered by Anonymous · 0⤊ 0⤋
a nicely finished basement can add value add a fireplace and bathroom down there
wine room? no many people dont drink or care for wine
remodel the kitchen and bath, upgrade the windows for value
2007-05-31 03:21:31 · answer #8 · answered by Mopar Muscle Gal 7 · 1⤊ 1⤋
You can add a game room. Or maybe add something to the outside of the house like a sundeck or a pool!
2007-05-31 03:21:28 · answer #9 · answered by Anonymous · 1⤊ 0⤋
Before you think of the bells and whistles, make sure the basics are covered.
First and foremost, there has to be a bedroom, kitchen, and bathroom. Everything on top of that is gravy.
2007-05-31 03:20:27 · answer #10 · answered by Anonymous · 1⤊ 0⤋