About basements. I just got some feedback from another agent about the basement in one of my listings not being "up to snuff" for his buyer, and I decided I just HAVE to write something about basement finishes.
First, a little about basements. In Colorado Springs, because we don't have earthquakes, high water tables or high humidity, basements are on probably 95% of all of our homes, and they can be great living spaces. They stay cool in the summer, can be a cozy place for TV in the winter, and make great guest suites, teen retreats, theater room areas, etc. A lot of people like them finished, since it is incrementally such inexpensive space. The minimum finish for most basements is at least 1 bedroom, 1 full (or 3/4) bath, and a rec room or family room of some sort. Typical basement finish work ranges from $25 - $50 per foot depending on finish level, bathroom and wet bar issues, etc. Smaller ranch style plans will often come with standard builder finished basements, just to get saleable bed and bath counts and finished square footage.
Basements come in several flavors. Walkout basements allow access to the outside from the basement and are usually the brightest. Garden level basements have their windows at or above grade level, so while you can't walk through a door to get to the outside, you can see pretty well, and are also on the bright end of the scale, depending on how it is done. Full basements have their windows below grade, so you are looking out at a window well of some sort. These tend to have a darker feel to them, although on some high end homes, very large window wells (and windows) are made to combat this problem.
1. If you are having a house built, and EVER plan to have the basement finished, have the builder do it as a part of the package. You will
a. save headaches
b. probably save money in the long run
c. get to enjoy it right away
d. likely get better financing on the work than if you do it later
e. get better warranty coverage
f. comply with building code from day 1
2. If you have a house with an unfinished basement, and you want it finished, get a reputable, professional contractor to do it. There are more botched, half finished, badly laid out, not to code, unpleasant basement finishes out there than you can shake a stick at, and as one trainer puts it, you'd be better off to burn a stack of $100 bills in the middle of it.
3. If you did not pay attention to either item above, at LEAST make sure you get permits and inspections per the law, and use good, reputable subcontractors for the skilled trade work such as plumbing, heating, electrical, and finish carpentry, and make sure the paint, carpet and fixtures are comparable enough to the rest of the house so as not to stick out as "cheap".
4. If you have doubts about the permit status of a home (this can include decks and roofs as well basement finish work), you can access the permit history on any home in El Paso County at http://www.pprbd.org/PublicAccess/AddressSearch.aspx . Regional Building will allow permits to be pulled after the fact, but there is a penalty, and rumor is that inspections can be somewhat punitive.
Bottom line? Doing it right the first time is the best way to avoid problems all the way around.