Your basement doesn’t have to feel like a dungeon. In fact, creating a living space out of the large, dark, unused area below your house may not only increase your home’s marketability, but it can also change the way you and your family live in it. Besides increasing property value, the addition of bedrooms, a laundry room, or a rumpus room is a great way to add space to your current living area. Basement remodeling can also update your home and give it a more modern appeal.
Increased value isn’t the only reason to remodel your basement. When you work with a contractor, the possible designs for your new basement are virtually endless. You can enlarge windows, create a door to the outside, add a man cave with a large bar, or create a comfortable place for your teen and their friends to gather. By increasing the efficiency and comfort of your home, you can also create an environment that encourages memories and family time.
Adding usable living space with a basement remodeling can have an unusually high return on your investment if you decide to sell your property. When you add more livable square footage to your home, you can not only increase the value significantly, but one study reports a return of over 72% on money spent on the improvements. Of course, the value is dependent on windows, bathrooms, and the quality of renovation work done.
Knowing the exact amount of a monetary return you may receive for the money invested is difficult, but one thing is certain, realtors report that if a homebuyer must choose between two homes and only one has a finished basement, the buyer most often chooses that one over a home with an unfinished basement area. So, if you plan on selling your home and marketability is an important issue for you, basement remodeling can add significant value to your home.