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ellie_rk

Finished Basement Walkout - Worth it or Not?

Ellie RK
7 years ago

Last year we purchased a vacation property in Upstate NY. It's a raised ranch, with a finished basement about 1400sq ft. It has a finished bath, laundry room, two bedrooms, and the "family room" where we watch tv, play games, and just hang out.

We did a major renovation on the main level that lasted over a year and is finally almost complete. Our next project was going to be making the basement a walk-out. Our contractor said it won't be a problem. But I'm wondering if it's a waste of money? Does it add any value to the house? I guess since we won't be selling for many years (until we retire) it would be for us. But if it doesn't add any value to the house, I'm not sure I wanna do it.

What would you guys do?

Comments (9)

  • Ellie RK
    Original Author
    7 years ago

    I'm just not sure if the added expense is worth it since we don't live there full-time. On the other hand, I know we'll make use of it.

    It's a tough one for us.

  • steve_o
    7 years ago

    So if you didn't build the walkout, what would you do with the money you'd have spent on it? Which would be more worthwhile to you?

    Ellie RK thanked steve_o
  • Ellie RK
    Original Author
    7 years ago

    Well, we want to change the roof eventually, but that's more for cosmetic reasons than necessity. It's also not project I'm ready to start just yet.

    Other than that, the major renovations were already done.

    Only other thing is, we wanted to add a few more windows and turn the existing window into a door for the walk-out. But that won't be done until we decide if we're going through with this or not.

  • worthy
    7 years ago

    I would never live in a home with a finished basement that didn't have an alternative way out in case of fire. At the least, an egress window.

    When I've built custom homes for other people without an escape route I've always felt slightly guilty, even though it was their decision.

    Ellie RK thanked worthy
  • amanda99999
    7 years ago

    FWIW, we have a walk out basement (full view doors - both at the basement level and at the ground level (you walk up about 9 steps to get to the ground level door). Original to our 1920s home. LOVE it. You can sit on the patio outside and see down to the kids playing in the basement. And it lets in so much light, and makes it feel a bit less of a basement (sort of, its still an old house, below grade except for short windows). And its so convenient for getting in and out - put away tools/shovels/gardening supplies/whatever. I'm not sure how much I'd pay for it if I didn't have it, and I doubt it adds value to the home at resale, but its something that is a nice touch, I think, that buyers will notice - i.e., it will make your home apper to be well taken care of by people who notice details. HTH a bit!


    Ellie RK thanked amanda99999
  • FeatherBee
    7 years ago
    last modified: 7 years ago

    My neighbor recently sold her home in 3 days at full asking, and a similar home down the street sold for less (months prior), her response was, "well I have a walkout basement..." So she thought it added value... And she did get more $$ for hers.

    I prefer a walkout, especially if it's a finished basement. If you have parties down there then it just seems like a hassle to walk upstairs (it feels like you're traped down there). But that isn't to say if my dream home popped up without a walkout that I wouldn't consider it, I definitely would.

    Ellie RK thanked FeatherBee
  • Ellie RK
    Original Author
    7 years ago
    last modified: 7 years ago

    @worthy- Currently, the basement has 6 windows, very easy to get out of in case of fire - in any part of it.

    @ap999 - We discussed it and still haven't decided. One of the issues is we're just not there enough for the added expense. Also, we wouldn't even make use of it in the winter, which here, lasts at least 4 months (snow and cold). So it becomes a large expense when you're talking about using something just on the weekends, and not even for the entire year.

    @featherbee - It's funny you should mention your neighbor. There are two houses up for sale on my road. Both are very similar to ours. I'm actually waiting to see what they sell for (one of the homes has a walk-out basement) before doing anything else to the property.

    Thanks for your opinions all, much appreciated.

  • Troy Farwell
    6 years ago

    So we have walkout basements on both our main house and our vacation house. I'm currently in the process of remodeling the one on the vacation home.

    We decided to put a lockable door between the upper floors and the basement so we can have the option of renting / air B&B it as a separate unit. I'm putting a small kitchenette and a bathroom down there, so renting would make sense. We may end up doing the same thing with our main house and renting it to students from a nearby college.

    In my mind, the walk-out makes this possible, since you can have a separate entry and safe egress in the space. Even if we don't decide to do it (hassle of renting, etc), I think the flexibility is worth the cost.

    Here is a photo - I just recently pulled the garage door out and made it a walk-out with a regular door and window. https://www.instagram.com/p/BTfBZl-DRvY/