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Yes, adding a walkout basement will usually bump up your property value. Most homeowners prefer walk out basements because the exposed wall that’s level with the ground provides more utility via a ground-level exterior entrance, and they can fit full windows, which adds natural light and ventilation to the basement area. The only exception might be in areas prone to tornadoes, as walkout basements aren’t as safe as regular basements during a tornado, particularly if they include large windows or glass sliding doors.

Envision the type of bar experience you'd like to create for your guests. For example:

• Does your basement have enough finished space for bar stools or seating?

• What type of additional lighting would set the tone for the room?

• Are there basement windows or an HVAC system?

• Do you need new plumbing in your basement for a proper wet bar?

• Could you be happy with a built-in wall cabinet bar rather than a full-scale wet bar?

It is generally more affordable to finish a basement than an attic, though it ultimately depends on how you plan to use the space. The average cost to finish a basement ranges from $7 to $23 per square foot, while attic renovation costs $30 to $60 per square foot. However, a simple attic conversion to a storage space will cost significantly less.

There are several small, inexpensive upgrades you can make to upgrade your basement. Although you still need to adhere to building codes and obtain permits when necessary, you can complete small but mighty tasks like painting the masonry walls and installing entertainment devices to make the space more usable.