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Real Estate
Reply to "How much would home theater increase the value of the house?"
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[quote=Anonymous]I am a high end residential builder. I have had Realtors' tell me that I had to add a wine cellar to my homes to sell them; that my wine cellar was not large enough. All types of nonsense for why a house was or wasn't selling. And then they leave in their minks and mercedes. i think alot of the theater fad started when the money was cheap in the early 2000's. And everyone wanted the next big thing - theaters, wine cellars, etc. All in the finished basement. I never understood it because if you have all that money why are you living in the basement ? So, my take is the Realtors push them. Realtors like houses completely done; and they want to be the best house in their price range. Banks on the other hand only value basements at significantly discounted sq. ft. price from regular living space. So, for where I build, if you have a 4M house they are probably giving you a 100-120k on your appraisal for your tricked out basement. And what you need to realize is that banks set the price of real estate based on what they will lend. That's the cold hard truth. The other thing that you need to think about, what us builders love, especially for theaters in the basement, is you need to finish the rest of basement to get to theater. And you need a bath of that level, etc. Gotta love theaters. Ka Ching !! Ka Ching !! Basements are nice jobs, Don't have to go through the rest of the house - good winter work. I love to sell theaters. Don't have one in my house and never will. Add in depreciation of technology and you come to realize that you need to view a home theater as a consumable. If you and your family enjoy and have the money, go for it. I'd say add a nice flat screen to the FR or Playroom and call it a day. If the next buyer wants a theater he can have at it.[/quote]
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