Does Finishing Your Basement Add Value to Your Home?
Finishing your home’s basement can have a lot of benefits. In addition to giving you more usable living space where you may have previously only had storage or perhaps your washer and dryer, this one renovation can also add value to your home when the time comes to sell.
Although added value is one of the benefits however, this probably shouldn’t be your main motivation as you are unlikely to recoup the entire cost of the renovation in your resale value.
General wisdom on the subject is that you can expect to get between 70-75% of your investment back from finishing your basement.
Of course, in addition to monetary value, there are some other really good reasons why finishing your basement makes sense.
Add an Extra Bedroom or Apartment
Is your family growing?
If you find that your current living space is getting a little cramped but you aren’t quite ready to take the step of moving into a bigger home, then giving your teenager (or adult child who has just moved back from college) his own room in the basement can be a great use of the space.
Or perhaps extended family is coming to live with you. A basement apartment is a great way to have them close but still let them have their independence. A basement apartment could even be a source of income either for long term rentals or shorter term rentals if you have aspirations of becoming an Airbnb host.
Add a Family Room or Entertainment Area
Finished basements can make great places to have family rooms or kids’ play rooms. It helps to keep toys and other clutter relegated to one area of the house so that the rest of your home can have a calmer atmosphere.
Or are you thinking of adding an in-home movie theatre? The basement can actually be a perfect place for this as basements typically have no or only very small windows and are therefore usually darker than the rest of the home.
Should You Opt for DIY or Professional Basement Finishing?
This really depends on how elaborate you want the design of your basement to be. If you are an experienced DIYer and are just going for a simple family room, chances are you can do certain jobs such as drywalling yourself. Before you do though, it is a good idea to get your basement waterproofed from the outside if possible – a job that should only be done by professionals. It is also best to leave any plumbing and electrical work to professionals as well.
Of course, if you want the most polished design and execution that you can get, you can’t go wrong with hiring the professional team at Superior Construction. Call us today if you are interested in getting a free quote to finish your basement.
Apply now to get Free Estimate!
If you are considering building a custom home in Toronto, one of the decisions you will need to make is whether to purchase a lot before or after consulting a builder. As custom home builders in Toronto, we at Superior…Read More
Completing upgrades to your home with a Markham home renovation service can be really exciting: you get to pick out new fixtures and appliances, new paint colours and potentially all new furniture. In order to get the maximum return on…Read More
Although the end result is typically worth it, the home renovation process itself generally involves a large investment of time, money and energy. Choosing the right home renovation in North York can go a long way to making sure the…Read More
A quick Google search of “Home Builders Toronto” will show you that you have a lot of choices when it comes to hiring a builder in this city. So how do you know what to look for? Here are a…Read More
Designing and building a custom home is a dream of many people living in Thornhill, but before you can begin looking at paint swatches, it is important to find the best custom home builder for the job. But hiring custom…Read More