When it comes to building a new house, there are some basics Atlanta buyers won’t budget on. They want open floor plans, garages, and kitchens big enough to accommodate not only the family, but guests as well. And it turns out, they’re also big on basements.
But buyers are not interested in those concrete-floored caverns where the Christmas decorations are banished for most of the year. Instead, they envision various ways to turn a home’s foundation into valuable, functional space that can serve a variety of purposes. In fact, just about any idea imaginable can be incorporated into a basement area.
“We’ve seen everything from pool and ping pong tables to climbing walls,” said Dwayne Hill, vice president of sales and marketing for Atlanta-based Ashton Woods Homes, a company that concentrates its new-home projects across the northern arc. “You can certainly have a game room or a place for hobbies. Some people like the idea of a media room, while families with children often turn them into big playrooms. We’re also seeing a lot of folks putting in an extra bedroom down there for when those children come back from college and want a little more separation.”
Basements are often big enough to accommodate several adaptations. So along with an entertainment area, a second kitchen and a wine cellar, there’s often room for a bathroom and a separate storage area. No matter how they’re outfitted, they provide owners the chance to get away from the more formal parts of the house.
“What’s fun about basements is that you’ve got all that interior decorating upstairs, but downstairs, you can break some of the rules,” said Hill. “People have a lot of fun with them. They create a whole lot of space to do something different with.”
Having that flexible space is popular, but getting a basement in the first place isn’t always a given.
“A basement is really a function of working with the grade on the existing home site,” explained Hill. “Most people want some sort of daylight, so we try to work with the land to have a natural basement. Sometimes, the entire rear is day-lit with a deck above; sometimes we have a side daylight basement.”
At Ashton Woods homes at Highlands at Johns Creek, many of the 23 home sites lend themselves to basements. The builder is also adding basements to lots in Heritage at Kennesaw Mountain, a 42-home Cobb County community. Both projects are priced from the low $400,000s into the $600,000s. In many cases, buyers are opting to have the basements outfitted before they move in.
“It’s a good value when you do it while the home is being built,” said Hill. “The crew is already on site, so it’s efficient. The space is there, so just adding electrical, dry wall and trim can give you another 2,000 or 2,500 square feet.”
Builders with Monte Hewett homes look to add basement areas to single-family and townhouse designs whenever possible. That’s the approach at High Point Manor in Sandy Springs, priced from the high $700,000s, and Heatherton in Roswell, where townhouses and single-family homes start in the $230,000s. The townhouses at West Village in Smyrna, from $269,000, are 3-story designs that include a finished basement level.
“From a cost perspective, we like to sell our homes with finished basements,” said Kelly Rulis, Hewett’s vice president of sales and marketing. “It’s more cost effective to build a house on a slab, but we know buyers will seek out a basement.”
At High Point, one recently-completed house had a basement with a media room, hallway, access to a covered patio and the backyard, and unfinished space for two additional rooms, a bathroom and storage. In townhouse plans, the basements are outfitted with bathrooms and often become the home office, extra bedroom or a less formal space to relax.
“The townhouses typically have a drive-under garage, so when you come in, you enter a very nice space on the terrace or basement level then walk up a flight to the first floor,” said Rulis. “Those plans are very popular for us. People will use the basements for home offices, small dens or a guest bedroom. They always a bathroom down there, as well as some storage, and they typically open to the backyard. For the most part, the basement is the place to hang out and have fun, but it’s also a huge factor for the family buyer. They want playrooms down there and areas to store bikes and toys.”
Creating that cool basement comes at a cost. The price can start at around $15,000 for the basics (outlets, carpet, framing) and climb into the six-figure range, depending on what the buyer envisions.
“Really, the sky’s the limit,” said Rulis. “People often will invest $20,000, but some people spend $100,000 to finish 2,000 square feet, especially in high-end homes. We build homes in the $3 and $4 million range, and at that price point, people will often go all out with wine cellars and full kitchens. It just depends on what their lifestyle is going to be.”
One important feature of a basement that isn’t as readily imagined is its re-sale value - a fact many new-home builders consider for their own sales.
“Competition with the re-sale market is so competitive, and there are so many finished basements available, that it’s just smart to finish the space.” said Rulis. “When buyers compare basements, slabs and crawlspaces, the basement almost always brings the premium.”
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