One of the items on the many home improvement wish lists that create lasting value year round, is a basement renovation. When you turn an unfinished basement into a functional, livable space you expand your home’s valuable square footage and increase your quality of living. The project may seem like a huge undertaking, but how in-depth the renovation goes is totally up to the homeowner.
Ways a Finished Basement Can Add Value to Your Property
The great thing about a basement is that the space is already there. There are no additions, no building out, and no building up – just fixing. Thus the initial costs are generally much lower, with the return on investment much higher.
The reason why a finished basement adds market value to your property is because the possibilities for the area are bountiful. By adding a bedroom and a bathroom downstairs, your home just went from (for example) 3 bed / 2 bath to 4 bed / 3 bath – commanding a much higher selling price without changing the square footage.
The Value of a Basement in the Here and Now – Not Just When Selling
Your current basement might be a dark and dreary space that is damp, moldy, and quite frankly pretty scary. Finishing a basement can create a bright livable space. Wouldn’t it be a great quality of living boost if the basement became a place where the kids can play safely or the entire family can gather to watch movies? Even if a finished basement can just be a place for extra storage without worrying about water and mold damage – this would be a huge asset to organize the rest of the home.
Different Levels of the Basement Finishing Project
Renovating your basement into a finished space can be an all-in-one project or one that becomes a high-quality living space over time. Insulating and framing the walls and running heat, electrical, and plumbing into the area is one of the first steps in the project. Over time a nice waterproof laminate or tile floor can be added as well as a drop ceiling to cover up any duct work, pipes, and wiring.
A design team at an interior remodeling company can assist you in coming up with the perfect layout for your space and needs. They can help devise a budget and determine if this will be an all-in-one renovation or one that is completed in steps.
So let the brainstorming begin! How will you transform your basement?