Should I build out, build up or develop the basement?
Each direction trades one cost for another. Building out needs new footings and foundation, and it uses up yard and the room your lot allows. Building up keeps the footprint but loads the existing walls and foundation, and the roof comes off during framing. Building down, by finishing the basement, adds space without changing the outside of the house at all.
The use matters as much as the cost. A main floor family room or a larger kitchen usually wants to build out, at the same level as the rooms it joins. Extra bedrooms often fit better upstairs. A rec room, an office or a rental suite can go down. Lot size, the age of the house and how long you plan to stay all shift the answer.
