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IS CREATING A MAN CAVE A BATTY IDEA
October 7th, 2014 12:39 PM

How Decked-out Basements are Raising Appraised HomeomeHome Value           

No, the idea is not completely batty. If you’re a smart homeowner/investor, you’ll put the idea of a man cave on your radar. “It can increase the value of your home,” says Stephanie Rauterkus, Ph.D., professor of accounting and finance at the University of Alabama.   There tends to be a resale market for man caves,” she said.

 

And other sources are quick to point out that it’s not just “man caves” that can boost a home’s appraised value.  Apparently, Bat Girls are looking for personal space too, according to an article written by Tim McKeough from the New York Times online. (NYtimes.com.) McKeough observes that with two wage earners in the work force, there’s an increased need not only for family time, but personal time, too.

 

“For that reason,” says McKeough,” having a dedicated place for the buyer to pursue personal interests like video games or sports may improve your home’s resale value. And it doesn’t have to be in the basement; sometimes it’s in a finished attic or at the back of a very deep garage.”

What Tim McKeough does not discuss is the Sunday Night showdown that might ensue between husband and wife as they battle for control of TV yardage. PahRoo knows the value of television real estate, especially since many of our appraisers are seriously into binge watching of “Breaking Bad” and other shows on Netflix.

Cave Features that Evoke a “WOW!” “ZAP!” “POW!”

Whether it’s a Man or Girl Cave, the NY Times’ article says the following features of cave dwelling seem to be universally preferred by homeowners and acceptable by buying hunters and home gatherers:

Sound proofing to prevent roars and screams from being heard upstairs—hopefully because of a game, not a visit from Freddy Kruger.

Large, flat screen TV. That’s in the plasma/blood of guys and gals these days.

Deep, luxurious furniture: overstuffed chairs for people who may be overstuffed by the end of Sunday in the cave.

A bar or tap or at least some cool place for coolers, ice-makers, kegs and small wineries or breweries.

Thomas James, a Chicago interior designer who has created many “man” caves, has words of advice and cautions: “First, if you really want to get the most appraised value out of your home, you’ve got to be careful not to personalize the space too much.” In short,  you shouldn’t put “Da Bears” stuff up everywhere and beer caps all around the moldings.  Keep relative good taste in mind and future appeal. “Second, be wise. Ask yourself if this is a smart decision. And finally, realize that you’re not going to get your money out of a man cave the way you would with a kitchen or bathroom renovation.

Unfortunately, many guys from the Chicagoland bat scene don’t seem to care all that much how their man caves impact their homes’ value – they’re just glad to have a sanctuary of their own. A survey from Coldwell Banker says that four times as many men as women said they would turn an extra room into an upgraded recreation or entertainment room. ”Holy unawareness, Cave Men, keep your eye on the big picture and we don’t mean TV!”

 

In today's turbulent real estate markets, property owners, property investors, financial planners, lenders and portfolio and asset managers turn to Michael Hobbs and PahRoo Appraisal & Consultancy for prompt, trustworthy guidance and  keen valuation insight into real estate appraisal, both commercial and residential, estate appraisal, real estate valuation, and business consulting designed to create transformational growth and success. Appraise our ability to meet and exceed your needs at www.PahRoo.com


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Posted by Michael Hobbs on October 7th, 2014 12:39 PMPost a Comment

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