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The Room That's Worth More Than You Think
I've had more than one buyer this year ask about finished basements with their own kitchenette and a separate entrance. Not as a nice-to-have. As a deciding factor.
Turns out that is a bigger trend than I realized. New data from Realtor.com shows multi-generational households (three or more generations under one roof) jumped from 3.2 million to almost 4 million nationally over the past decade. And homes set up for that kind of living are selling for a real premium. The median asking price for a multi-generational home hit $709,000 last year, about 65% higher than a standard home. Even controlling for square footage, buyers are paying $262 per square foot for that layout versus $215 for a comparable home without it. That is a 22% premium for things like in-law suites, second kitchens, and private entries.
Here in Michigan, this shows up more than people expect. A lot of our housing stock has basements with real potential, roughed-in plumbing, a walkout, extra square footage just sitting there unfinished. If your basement has room for a second living space, that is not just storage anymore. It is equity you have not built yet. And if you are shopping for a house and think you might need that flexibility down the road (aging parents, adult kids moving back, whatever the reason), it is worth looking for a home with that potential built in rather than trying to force it into a house that was not designed for it.
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