Not your mother's basement
Updated: Jan 8, 2019
Builders and homeowners in Sterling Ranch are taking basements to the next level
The finished basement in Parkwood's model home off Titan Road (more pictures below!)
One of my favorite aspects of helping clients build their homes in Sterling Ranch is assisting with all the fun - and important - decisions surrounding their future basements.
Of course, it's not unusual for homebuyers to leave their basements unfinished (after all, more storage is always a plus!). But more and more of Focus Real Estate's clients are using their basements to build flex spaces, offices, yoga studios, home theaters, mother-in-law suites, and whatever else suits their fancy. As just a few examples, I've priced out astroturfed playrooms, secret rooms with bookcase doors (so cool!), and golf simulators this year - all for basements!
The beauty of a basement is that it's a blank canvas. When and if you resell your Lennar Peyton, for example, buyers will expect certain furnishings and fixtures in the kitchen and elsewhere. But the basement? At a high level buyers expect either "unfinished" or "finished." Beyond that, you as the seller have flexibility to paint that basement canvas however you'd like!
A finished basement from any of Sterling Ranch's builders (Parkwood, Wonderland, Lennar, CalAtlantic, Richmond, Meritage, Taylor Morrison, or Brookfield) will cost anywhere between $20,000 - $75,000, depending on any number of factors. And one great aspect of finishing your basement when you build is that the cost of the basement is included in your mortgage (as opposed to paying a contractor after the fact).
I advise my new-build clients to spend less than $50 per square foot on their basements if they want to achieve between a 90-120% return on investment (ROI) on their basements when they resell in the future. In my experience 90-120% ROI is what a well-designed, high end finished basement with a bedroom and bathroom and other key upgrades in a new home in Denver generally returns.
Now, the national average ROI on finished basements is approximately 70%. Keep in mind that number includes older homes with quirky layouts and low ceilings, as well as basements finished without a bedroom/bathroom. That also includes people who go a bit overboard and spend beyond what I'd recommend ($50 per square foot). Regardless, the difference between 70% and 100% ROI is big, so it's important to work with your realtor to make sure you're making good, data-based decisions so you don't over-finish or under-finish your basement.
Here are three more photographs of the basement in the Parkwood model home. Enjoy!
As your Sterling Ranch real estate expert, I'd love to help you build, buy, or sell your home! I'm always available for you at firstname.lastname@example.org.