There are a lot of types of basements - and they have very different values to buyers and appraisers. Here are a few examples, to get you thinking...
- Nine foot ceilings with drywall, windows and/or doors on three sides providing lots of natural light, luxury vinyl plank flooring, recessed lighting throughout, a second kitchen, home theater, guest suite, etc. Wow!
- Eight foot ceilings with drywall, windows and/or doors on two sides providing quite a bit natural light, carpet, decent lighting throughout.
- Eight foot ceilings with ceiling tiles instead of drywall, windows and/or doors on one side providing some natural light, carpet and/or linoleum flooring, limited lighting.
- Seven and a half foot ceilings with ceiling tiles, several small windows, vinyl flooring, limited lighting.
- Seven and a half foot ceilings with ceiling tiles, one small window, painted concrete floors, limited lighting.
- Seven and a half foot ceilings with an open ceiling (no drywall or ceiling tiles), no windows, bare concrete floor, cinder block walls limited lighting.
- Seven foot ceilings with an open ceiling, no windows, concrete floor, cinder block walls with clear evidence of past moisture intrusion, limited lighting.
- Six and a half foot ceilings with an open ceiling, no windows, an irregular concrete floor, cinder block walls with clear evidence of ongoing moisture intrusion, floor drain and trenches leading to it, limited lighting.
- Six foot ceiling with an open ceiling, no windows, a dirt floor, stone foundation walls with mortar crumbling and falling out, clear paths of ongoing water entry, one light bulb with a pull string.
You get the idea. :-) To say "this house has a basement!" can mean so many (so many!) different things. And, the value of that basement (to a buyer or an appraiser) will vary quite significantly.
So when you see a house for sale with 2600 square feet -- but with 1200 of those finished square feet being in the basement -- you might just have to go see the house in person to understand which of the various basement types listed above best describe these 1200 square feet.
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