Hey gang...thought I'd share a tid bit since it's been thrown around so much. That is what does a theater room do for resale/pricing of a house. I just signed my refi paperwork yesterday (yes taking advantage of the great rates) and therefore had to have an appraisal done on our abode. Well it turns out the appraiser valued the theater at a little over $5,000 and that's for a 220 sq. ft. room. or about $23/sq. ft. And $23/sq. ft. is pretty average for a finished basement sq. ft. appraisal price here in Washington. So those who thought a theater doesn't add any value to a home you're right....they just price it at pretty much standard sq. ft. prices. BUT it also doesn't hurt your appraisal, but in fact is mentioned as a bonus feature which mind you, increases the "overall" evaluation ever so slightly.
So there you have it....don't expect a $10K increase in your house after building a theater room...it just doesn't work like that. Just take your average sq. ft. price for the "floor" that the theater is on and you'll have your appraised price. Had my theater been on an upper floor the price would have gone up quite a bit, since the average appraised sq. ft. price on our house was $110....so what I'm saying is it all depends on, like they say..."Location, location, location!"
Don't know if anyone cares...but thought I'd share that since I was curious and know there are others out there thinking about, building, or who already have dedicated theater rooms.
E
The Norwegian A/V Nut!
E-Cinema
So there you have it....don't expect a $10K increase in your house after building a theater room...it just doesn't work like that. Just take your average sq. ft. price for the "floor" that the theater is on and you'll have your appraised price. Had my theater been on an upper floor the price would have gone up quite a bit, since the average appraised sq. ft. price on our house was $110....so what I'm saying is it all depends on, like they say..."Location, location, location!"
Don't know if anyone cares...but thought I'd share that since I was curious and know there are others out there thinking about, building, or who already have dedicated theater rooms.
E
The Norwegian A/V Nut!
E-Cinema
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