Top-rated real estate agents.

Get matched with top real estate agents in Magdalena, NM

Enter your zip and get matched with up to 5 pros

Need a pro for your real estate service project in Magdalena, NM?

Select your specific project to find the pro for you.

Verified Reviews for Real Estate Service pros in Magdalena, NM

*The Angi rating for Real Estate Service companies in Magdalena, NM is a rating based on verified reviews from our community of homeowners who have used these pros to meet their Real Estate Service needs.

*The HomeAdvisor rating for Real Estate Service companies in Magdalena, NM is a rating based on verified reviews from our community of homeowners who have used these pros to meet their Real Estate Service needs.

Last update on October 24, 2023

Find Real estate agents in Magdalena

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.

Increases livable area and enhances aesthetic, often boosting property appeal.

In cases where an appraisal comes in lower than an offer price, sellers might opt to lower their asking price to meet the appraisal, especially if the market is slow, and replacing the offer with a higher one may take a long time. Sellers can also offer to make repairs to boost the appraised value, hire another appraiser to get a second opinion, or just move on to another offer that isn’t contingent on the buyer getting a mortgage or an appraisal inspection.

While a finished basement adds value to your home, it is assigned a different value than space on the main floors. An appraiser will assess the square footage of a finished basement at about 50% to 60% of the value of the square footage for the rest of your home. Appraisal value for a finished basement depends on your location’s real estate market and the specifics of the basement and how it was finished. 

Ensure the property is clean, provide access to all areas, and supply relevant documents, such as recent upgrades or tax records.

The Magdalena, NM homeowners’ guide to real estate services

From average costs to expert advice, get all the answers you need to get your job done.

See all articles