All Forum Posts by: Bryce Barrand

Quote from @Logan McKay Zylstra:

Hi Bryce, what I'm seeing right now is that it typically isn't worth the cost to finish basements (it will probably run you more than 50k as well, you also have to consider the opportunity cost of waiting for it to be finished in a VERY labor short market). I have a GC who could give you a bid as well.

I am happy to connect and look at this more in-depth.

Thanks for the info Logan. You are saying that you don't think that finishing the basement will bring in much of a higher sales price? Have you seen other houses with unfinished basements that sold for nearly as much as the finished basements? From my research all the comps had finished basements so it is hard to make a comparison.

Quote from @Jackie Jake:

Beautiful Home, since you've had it for years why not Air BnB it or rent it out to traveling nurses, by the room?  You can certainly get top dollar for this beauty, and make an even better Cashflow

 Thanks Jackie. We currently do Airbnb for our basement in East Lehi and it works great! However with this house we are looking to sell and buy some other investment properties in secondary markets like Mobile Alabama or Tennessee.  

Do you have experience doing whole home Airbnb or traveling nurses?

I have a home that I've been renting out for years, the renters are moving out, and I'm going to put on the market soon. See the home here: https://www.zillow.com/homedet...

Based on the comps, it looks like this home might be worth $850k or more with an unfinished basement. It is a nice house and setup well to have a mother-in-law space downstairs. My question is this: Should I finish the basement before selling? If I put in 50k to do the basement really nice, could that raise the overall sale price $100k or more? 

Thanks in advance for the advice.

I live in $1M home in Lehi and we finished half our basement and made a little 1 bedroom apartment. We made it really nice. We did a long term rental for a year for $1k a month. Then we opened it up to Airbnb about two years ago and now we make $2k+ consistently with 90% occupancy. 

The short term rental has been much better than long term rental for us. (More than 2x)