Most of the recently constructed homes have a basement. So, if you’re lucky to have a basement in your house, don’t make the mistake of leaving this space unutilized. Due to dampness and darkness, homeowners often think the basement is a useless area. But this isn’t true! The basement isn’t just for storing junk. There are several ways to transform your unfinished basement into a useful, living space. Basement renovation and remodeling are increasingly becoming popular home improvement projects because who doesn’t like extra space in their house? The more living area, the better! Whether your kids are growing up or you frequently invite friends for parties, a basement can be a great place to play, watch movies, or spend time with loved ones.
Basements provide a lot of extra storage space. However, besides storage, it can be used as a home, office, workshop, or even as a shelter during severe weather. Renovating this unused area may appear daunting, but a proficient basement contractor can provide you with cost-effective basement ideas to make your basement the most comfortable and enjoyable living area in the house. Are you still wondering if is it worth renovating your basement or if this project can add value to your home? If so, read further to find some amazing benefits of basement renovation.
Versatile Space
A finished basement can be used in an infinite number of ways. Many homeowners prefer to include a bathroom, cooking space, and bedroom to use this space as a guest suite. Other typical applications include a home office, a family/game room, a home gym, a hobby room, a dining room, and a home bar. A completed basement remodel can enable you to utilize more space in your house in whatever way you want. Its utility/function solely depends on your specific needs. You can use this additional space the way you want.
Increased Home Value
One of the most appealing advantages of a completed basement is the increased value of your property. In fact, practically any home remodeling job results in increasing your property value. A finished basement, according to some statistics, might give a 70% return on investment. Of course, other factors, such as your home’s location and the local real estate market, will influence the value. But an additional living area is a sure way to attract more interested home buyers than an unfinished basement. This can be particularly enticing if you plan to resell a house in the future.
Added Income
Basement finishing typically includes adding insulation and drywall to turn this damp area into a living space. All this helps in turning your basement into a rental space. Creating a bedroom along with a bathroom and kitchen allows you to rent out your basement to tenants. This will help you earn some additional income. Whether you plan to earn monthly rental income or simply want to improve the energy efficiency of your space, renovating your basement is a wise decision. An unfinished basement is prone to water damage and could cause several issues such as mold growth.