Real Estate Guru's - How valuable is an "unfinished" bonus room?

[Informed Info]

Originally Posted by rachaelryan45

There will be no flooring , just 2x6's but a door will be blocking the attic space off. Our parents are living on an extremely fixed income. I don't want to pay taxes on that space until I have too. Yet we don't want them to feel a burdon. They have sacrificed so much. Do we have to pay taxes on this unfinished space.

I'm confused....are you essentially building a two bedroom home with the possibility of adding future rooms in the attic?

If so, are you having the rooms framed out? Running the duct work? Electric roughed in to code? It's much harder much more costly to do this after the fact.

What you think you will save in property taxes right now you may end up paying just as much and then some to have the rooms finished down the road. You might have to hire an architect (depends on your town), then a contractor and his subs to finish the rooms off. You will have to pay for permits, the work has to be inspected at intervals, it will be loud and messy too.

Good luck!

[cully]

See this is what happens. No, Sawdustmaker, Rachael hijacked Mortgage405's topic and it's getting everything mixed up. I, too, thought what's going on, did mortage405 have another "name"? But noticed the stats had changed. So I realized it's another person entirely. So some people are now responding to each of them individually, but also mixing the two together. Too bad.