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When there's a fire those walk up basements better be walk out as well.From an appraisal standpoint, there are two types of basement: walk-up or walk-out. A walk-up is typically where the whole basement is below grade and you have to go up to get out. There may be small windows at the top or window wells for bedrooms. A walk-out is typically when the home is built into a grade and the front part of the lower level is below grade and the rear is at grade and you can walk out. From a functional utility standpoint, walk-out is more like another finished level, whereas walk-up is less desirable.