New Build - To finish the basement or not?

I'd wait

Leaving it unfinished means:

- You can check for cracks in your foundation wall and floor
- You have access to the floor above you if you need to run electrical, ethernet or a water line
- You can store paint, cleaning supplies, and building materials with little regard to damaging finished walls and floors
- What you want to do with the space will most likely change after you move in

Because you said finishes are important....it’s impossible to ballpark.

I’d say a big pro is just getting it done and out of the way and will be usable space once you move in. While above me listed unfinished as a pro because you can store paint cans...i would say it’s a con because it can tend to accumulate junk out in the open...like paint cans, etc. If finishing Leaving it as open as possible with some storage areas can be a plus. Closing it in with rooms everywhere less attractive. I’ve found sometimes an unfinished bsmt can actually look smaller than a finished bsmt with everything optimized and open concept.

Also makes a big difference if you plan to use the space...home theatre, office or workout area.

Curious if this will have any impact on property tax assessments?

Dan325ci wrote: ↑ Curious if this will have any impact on property tax assessments?

If it adds value to your home then of course it will

Ideally wait a year or two but have seen quite a few developments where new housing comes with fully finished basement.

Research insulation for floor and walls and try to get better then pink fibreglass and uninsulated slab.

I’d wait, but see if they will pop the sheets of drywall down there for you!

I would just get it over with and get it finished.

JayLove06 wrote: ↑ I can finish a small basement of my new build for about $23K. This includes flooring, a 3 piece bathroom and a small bar with under counter fridge and sink. I do not know the finishes (yes, this is a big factor).

My question is...is it best to let the house settle before doing the basement? Just looking for pros/cons. If I were to get this done on my own, how much would I spend (ballpark?). Area to be finished is 15ftx20ft

You should wait 18 months from the time the cement was poured to give it time to cure properly. Finishing basement will increase property value so municipal tax will go up. Unless you leave the floor as bare concrete.

In this kind of work labor is usually between 60% and 80% of the total cost.

Every basement I have been in done by a builder looks ok but always has massive issues with insulation and the like.

JayLove06 wrote: ↑ I can finish a small basement of my new build for about $23K. This includes flooring, a 3 piece bathroom and a small bar with under counter fridge and sink. I do not know the finishes (yes, this is a big factor).

My question is...is it best to let the house settle before doing the basement? Just looking for pros/cons. If I were to get this done on my own, how much would I spend (ballpark?). Area to be finished is 15ftx20ft

I was advised to wait a year and let everything settle before doing the basement. My house foundation was pored in January 20 years ago. I didnt even think they could pore cement in January but its allowed. I ended up with a small foundation leak which they drilled and sealed and still sealed 20 years later.

My builder told me to wait five years before finishing the basement.

If I was to finish it earlier, they may void my warranty

Gee wrote: ↑ My builder told me to wait five years before finishing the basement.

If I was to finish it earlier, they may void my warranty

I have never heard of this, it makes little to zero sense. A year, yes - it will allow time for the concrete to completely dry and any construction issues to come to light. Five years? Crazy talk.

Gee wrote: ↑ My builder told me to wait five years before finishing the basement.

If I was to finish it earlier, they may void my warranty

Are you sure the words are right? I don't think it voids your warranty. I think if there's an issue the builder is only responsible for the house in its original condition upon closing and you (and your insurance) are on the hook for any upgrades in the basement.

walleye*guy wrote: ↑ I have never heard of this, it makes little to zero sense. A year, yes - it will allow time for the concrete to completely dry and any construction issues to come to light. Five years? Crazy talk.

After two years, there is still a lot of concrete dust in my basement.

poorwingman wrote: ↑ Are you sure the words are right? I don't think it voids your warranty. I think if there's an issue the builder is only responsible for the house in its original condition upon closing and you (and your insurance) are on the hook for any upgrades in the basement.

I think he has it written in my Tarion warranty. I have to look at it again. Regardless, I am house poor, couldn’t afford to do anything right now anyways

No

I waited 18 months to finish the basement. My (Ontario) new build contract said I had to wait 12 months. If there were any issues in the first12 months and the basement had been finished, the builder would rip out anything they needed to, to fix the issue, and would not put it back - they would also charge for the demo.
My basement finished was about 600 sq ft. I spent about 22K for materials and having a contractor do the framing and a plumber do the rough-ins. I did everything else myself. All told, I figure I put over 500 hours into this project. We ended up selling shortly after the basement was done and I estimate the basement added about 50K in value to the house, based on comparables selling without finished basement. Finishes were not super high-end but they were quality. I used the time beforehand to shop and picked up a lot of stuff on sale.

Looks awesome. One question though, did you leave any space for storage? My basement is over 2/3s finished and sometimes I wish there was more dedicated storage space. Something to consider for those who are finishing their basement.

Gee wrote: ↑ After two years, there is still a lot of concrete dust in my basement

If your concrete hasn’t been sealed, you will get dust in the basement. The dust is a result of the concrete being dry. After the concrete has dried - max 1 year, I’d seal the floor and walls. Sealing the concrete will take stop the dust, mitigate any radon penetration, add a bit of waterproofing and give you a more useful space.

Definitely wait at least a year, within the first year we found 3 cracks in the foundation. Although they could have been easily spotted way earlier if the insulation wasn't in the way.