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Real Estate Agents questions, answered by experts

Yes, in most cases, finishing a basement is worth the cost. The project adds valuable, usable square footage to your home and typically provides a return on investment (ROI) of 70% to 75%. For example, an average basement refinishing project costing $32,000 could add between $22,400 and $24,000 to your property's value. The final value added depends on factors like your location, the quality of materials and workmanship, and the features you include, such as a living space, bedroom, or bathroom. To be officially counted in your home's total square footage, the finished space must comply with all local building codes, including requirements for points of egress. However, in areas prone to flooding, a finished basement might be seen as a liability by potential buyers and could potentially decrease your home's value.

Insurance companies weigh the amount of potential liabilities on your property to increase (or decrease) the cost of your home insurance. They will use several factors to decide if there are more chances for peril or injury to take place at your home. These factors include your location (whether you live in an area with high risk for natural disasters), the age and condition of your home, and whether you have any “attractive nuisances”—features that both increase the aesthetic of your home and potential for injury—like a pool or treehouse. 

Yes, wood floors are among the most desirable flooring options, and most homebuyers are willing to pay more for homes with high-quality wood floors installed. Wood floors are relatively easy to repair, maintain, and clean, and buyers may pay a premium for the convenience and natural beauty of wood floors, especially if they’re new or in good condition. You can reasonably expect a return on investment of around 75% or more when you upgrade to wood floors, depending on the quality and type of wood.

Yes, if your home is poorly maintained and has weeds and overgrowth, it can affect your home appraisal and lower the value. Home buyers want to see a well-kept home, and if yours lacks curb appeal whether inundated by weeds or not, you could be neglecting the potential for it to reach its full value.

A heated driveway can increase your home's value, particularly in regions that experience heavy snowfall and freezing temperatures, making the feature highly desirable to potential buyers. The value added is often greatest if you plan to sell within two to five years of installation, as the technology will be current. If you don't plan to sell for 15 years or more, an aged system may not be a significant selling point. However, even installing the basic components without activating the system can still add value by giving a future buyer the option to complete the installation.

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