What is considered a finished basement? Well, it has a completed level, and HVAC system, electricity, finished floors, an accessible entrance or stairway, level ceilings, and finished walls. I Let’s take a look more in-depth at why this matters, what makes a basement unfinished or finished, what to consider when adding a finished basement and the downside of adding one, and when it is worth it to add one. f it is a bedroom, it has a closet and a window.
Why does this matter?
If the basement in your home is considered a finished basement, If the area you live in doesn’t count the square footage of a finished basement, then it can still appraise higher because it can be called a “finished basement.”
An appraiser will look at the access to the outside, the number of windows, and the quality of work. Homeowners like these areas for in-law suites, wine cellars, game rooms, etc. It also matters because some homeowners are trying to decide between adding the finished basement or an addition to the upper level.