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Real Estate Agents questions, answered by experts

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. 

Yes, high ceilings can increase your home's value when it's time to sell. According to some studies, homes with ceilings that are 9 feet or higher can sell for up to 6% more than homes with lower ceilings. While other factors like your home’s location and condition are more impactful, homes with high ceilings have a greater perceived value. Buyers often appreciate the extra space and modern feel that high or vaulted ceilings provide, making it a potentially worthwhile investment.

Having a garage can increase the value of your home considerably, even if the garage isn't considered living space. Many people own cars and want a secure place to park their vehicles when they are home. 

If you decide to finish your garage and convert it into living space, you may affect your home's value. The livable space may increase your home's square footage, which can help its value. But, giving up the garage space may also negatively affect the sale price of your home.

Appraisals are not mandatory but are helpful for pricing accuracy and negotiation purposes.

Yes, siding orientation can affect a home’s resale value, but in what way and by how much really depends on the prospective buyer. For instance, some buyers prefer the more modern appearance that vertical siding offers, so having it can increase your home’s value in their eyes. However, other buyers prefer the classic, more common appearance of horizontal siding, so having vertical siding can decrease your home’s value in their eyes. 

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