I am thinking about putting a wet bar in the basement of the property I am rehabbing. Do you think it would be a waste of money, or it could be a good resale value? has any of you done it?
I would not spend the money on it. I don't think it will help the resale as it actually takes away the flexibility of the space.
I have a lot of clients tearing out wet bars that were built in the 90s. It seems like a trend that is on the way out.
How big is the property? Who is your potential buyer going to be (bachelor, family, couple, etc)? What would you otherwise do with the space?
This is one of those things that could certainly be a selling feature if the likely buyer is someone who would want it. It could also be a detractor if the likely buyer would much rather have the space as a child's playroom, a media room, an office, etc.
So, you need to figure out the likely profile of your buyer first, then decide what the right amenities are to attract that particular buyer...
I think it really has to do with the target market in your area. Where I live almost every house over $300k has one.
This is a very desirable area, suitable for couples and young families. The basement is pretty large... about 800 SF , not including the bathroom, laundry and mechanical/storage room. It has a nice layout. Adjacent to the property, RYAN homes is building new homes which will start from 430k. I plan to put mine on the market around 270k (full rehab - 3 bathrooms, 2 baths 2100SF).
I would not add one. Focus on the kitchen and bathroom. I don't think a buyer will want to purchase because of a wet bar.
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