dedicated home theater in basement and house value

Discussion in 'Archived Threads 2001-2004' started by Karen Maraj, Mar 8, 2002.

  1. Karen Maraj

    Karen Maraj Agent

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    If I put in an enclosed home theatre, with riser seats, equipment room, the works, will this increase or decrease my property value. Assuming this looks good and professional, I don't care if it doesn't increase the value of the house, but, will it decrease it or make it harder to be resold a few years from now? (I posted this in After Hours a while ago, but this is probably the better forum)
     
  2. Richard Travale

    Richard Travale Producer

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    I hate to say it, but if you are planning to sell your house, you will NEVER get what you put into a dedicated HT back. The only way would be to sell to an HT nut.Most people would never pay more for a room that they have no interest in and to top it off, since there are no windows(I'm assuming), they would think that it couldn't be turned into something else. All in all, they would lowball you on these premises.
     
  3. Gordon Moore

    Gordon Moore Second Unit

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    I would have to agree with Richard, especially if you dedicate the room. People who look at your house will only see all the work necessary to "undo" what you have done. If resale is a concern, you may want to research into make the changes less apparent (more subtle). It would probably be a bit of a detractor if you have black ceiling panels, carpet up the sides of the walls...etc. However, painted walls can always be repainted...lights added/taken away etc... You may want to weigh how much undoing you would need to do to make the room marketable vs. taking a loss and leaving it the way it is vs. your happiness and enjoyment of the hometheater while you are in the house. It makes for some tough choices. If you are at all considering resale...I think you are going to have to compromise in your quest for your ideal hometheater.
     
  4. Chad Anson

    Chad Anson Second Unit

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    On the other hand.... a nice, finished out home theater is much preferable to an unfinished basement and would add to the square footage of your house. I think that if you stole a bedroom for your home theater, you'd be in a more difficult situation. True, you probably wouldn't recoup all of your value, but IMHO that really isn't the point of having a home theater.

    One suggestion that I read that really makes a lot of sense is that when it comes time to sell your house, install a cheap home theater-in-a-box setup and include it with the sale. That way, the home buyer may be more apt to see the value in having a home theater.
     
  5. Dennis Erskine

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    If you take an "expected space" (ie, living room, den, great room, or bedroom) and convert that into a home theater, it will likely limit the number of buyers that would be interested in your house.

    If you take a surplus space (ie, unfinished basement) and create a dedicated theater, you'll increase the value of the house and likely reduce the amount of time the home is on the market.

    Getting 100% back in any home remodelling/improvement project is not likely going to happen. This is true of adding a bath, doing a kitchen make over or adding a bedroom. Each of these activities will add to the value and sales price of of the home; but, the day you finish the project it is not likely the value of the home will increase by the amount you put into the project. In some cases, these investments into your home will determine if the home will sell (or in a reasonable period of time) rather than add to the sales price of the home.
     
  6. Scooter

    Scooter Screenwriter

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    I did a couple of re-finances subsequent to putting in my HT and the value increased significantly as far as the appraisor was concerned. As for re-sale..well have to wait on that one.
     
  7. RAF

    RAF Lead Actor

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    Lots of good advice here. One thing that I would add to the discussion is the following:
    Scooter said:
     
  8. John Cain

    John Cain Second Unit

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    Yes, but did the appraiser see that Outlaw 950!?!?!?
    [​IMG]
    -- John
     
  9. Scott-C

    Scott-C Supporting Actor

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  10. RAF

    RAF Lead Actor

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    No, gang, the 950 (and obviously the 755) were part of the "post-appraisal" days. And while the appraiser was a movie buff I doubt that he would have "noticed" the 950 even if it was there. I was careful, during the month of February, until released from the Non-Disclosure Agreement by Outlaw, to keep "knowledgeable" neighbors at bay, however.
    Incidentally, the reason I'm getting the 755 a bit earlier than most is because I agreed to buy the "reference sample" of the product. I caused a bit of a stir over at the Outlaw Saloon in this thread when I mentioned the 755.
    Looks like I'll have an eventful week.
     

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