Should I renovate my basement? Will it be worth the money if I do so? Do I really need the extra space from a finished basement? If these questions look familiar, you might be hesitating about renovating your unfinished basement. While basement remodeling may not be the first thing on your mind, an unfinished basement counts as a lost opportunity.
If you’re here looking to validate whether basement renovation is worth it, we’ll explain why it’s useful for you and your family.
Why You Should Finish Your Basement
If you have an unfinished basement at home, there are better and more creative ways to utilize that space. A finished basement is worth more than you might think. So if you’re considering upgrading a space, we’ve collected five reasons to prioritize your basement.
1. Improves your home’s resale value
A home’s value or evaluation is typically based on the finished square footage. If you have a fully furnished home and basement, you have double the area of your home’s lot area. The increased living space yields a good return on investment when you place it on sale on the market. If you have enough budget for a basement renovation project and this sounds great to you, contact a professional contractor now.
2. Resells your home faster and easier
A finished basement increases a home’s value and can make it interesting to property buyers when posted on the market. A finished basement can reinforce a buyer’s decision. It can be considered a bonus and added luxury since they don’t need to spend time and money refurbishing the basement when the home gets turned over to them.
3. Increases your living space
Typically, the basement size is close to your house’s lot area. So a finished basement can almost double your living space. If you have a growing family, you do not need to move into a bigger home to accommodate them with you. A finished basement offers room for additional bedrooms or any essential amenities.
When you employ maintenance and repair services, they’ll help you come up with the best basement design that will work best for you and your household.
4. Creates an opportunity for investment
When you use your finished basement to build a rental place, you’ll have a good amount of financial gain, plus the additional amount you can have in return if you intend to sell your property in the future. If you’re a business-minded individual, you’ll profit from your basement if you use it as a rental opportunity for long-term renters or individuals visiting your area.
If you’re interested in this option, work with professional residential contractors and consider their recommendations and professional input to ensure your property is structured and ideal for this process.
5. Offers additional storage space and organization
If you think your living space is too cluttered and disorganized, finishing your basement can provide a solution. The additional space you’ll get from your finished basement can provide storage space for toys, exercise equipment, holiday decorations, and more. With built-in shelving and cabinets, a finished basement enables you to store items in a secure, safe, and organized manner.
