Should I Finish My Basement?

I have a past client who's also a good friend of mine. I love the guy and he keeps asking me if it’s worth it to finish his basement. 

Well, the first question you have to ask yourself if you're going to seriously consider finishing your basement is, "how long do I plan on staying in the house?" 

My buddy has a two year old and they’re expecting another soon. He’s thinking that a finished basement could be his man cave, a place to escape for a while. 

That makes sense but then I asked how long he had planned to live in his current house. He asked why that mattered. Here’s why it matters. In today’s real estate market, the cost of labor and materials is through the roof. Not only that, but reputable contractors are swamped. 

So that bid is going to be a lot higher than, let’s say, five years ago. It's hard to find good framers, plumbers, and electricians. 

If you're going to finish your basement, make sure that it's a good return on investment. Make sure you’re planning on living in that house long enough to recoup the cost of that investment. 

This is not what my buddy wanted to hear. But I have to tell him the truth. I always look out for people's best interests. I have too much experience. 15 years of investing in my own properties has allowed me to speak with confidence with advice that will protect you. 

If you're looking to add on to your property and make an investment in your property, reach out. I can help.