What’s residential basement space worth in appraisals?

If you want to finish your basement and think that will double your home value or increase price equal to the above basement square footage…..think again.

If you think basement space will be appraised for the same value as main or above ground floor value, then you will probably be disappointed.

So what’s it worth on an appraisal? – That all depends on the appraiser, appraisal rules, the vicinity of the property, and lots of other factors…

But this is what I’ve seen on some recent appraisals from former clients….

Unfinished basement space: $5-10/square foot

Finished basement space: $8-25/square foot

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