Looking to make the most of your basement? Study these 6 reasons to finish your basement and turn it into a desirable space.
Do you know that basements have become hot commodities in the current real estate market? Given the costs associated with a basement renovation, many homeowners choose to keep them unfinished. Plus, many new homes are now built without basements. This means that properties with finished basements are rare, and as more and more people are realizing the value of finished basements and learning about their money making potential, the demand for finished basements has increased.
While an unfinished basement is a burden with useless junk and clutter, renovating your basement can greatly pay off. Let’s take a look at some reasons to finish your basement:
1. Add More Living Space
The most obvious reason to renovate your basement is to maximize your living space without having to add an external unit, which has its own complexities, such as obtaining a permit.
Finishing your basement provides a large, open space and adds a tremendous amount of functionality to your home. A full basement renovation allows you to partition the space into various portions such as bedrooms, a workout area, a home office, a playroom for children, etc.
Thus, you no longer need to cut into the square footage of the upper floors to accommodate your family and guests. Just renovate your basement and you’ll have more room!
2. Increase in Home Value
As mentioned earlier, the demand for homes with finished basements is on the rise. You may not have any plans to sell your home in the foreseeable future but you never know when a sudden need for cash arises, putting you in a difficult position.
If you do plan to sell your home, basement renovation should be a great way to add to the dollar value of your home. Before basement renovation becomes a norm, why not take advantage of the increased demand now? You should find yourself in a much better position to negotiate price after renovating your basement.
However, make sure that your basement renovation plan caters to the common living needs. Instead of over-personalizing it, consider what most people require.
3. Can Use it For Any Specific Purpose
There’s no restriction on what you plan to do with your basement and thus, how you wish to remodel it. Think about why you want to renovate your basement. Do you need an office space? Or are you looking to add a gym area for your workout routine? Maybe you’re worried about your children leaving home too often for playful activities and are looking for ways to make your home a more inviting place for guests?
Whatever you desire, a finished basement is the best way to address your space needs. A full basement renovation allows you to use the space for multiple things, such as a home cinema, coupled with a bar to entertain your guests, an en-suite to accommodate your in-laws, and so on.
For more options, take a look at these 6 basement remodeling ideas.
4. Rentable Unit
Did you know that you can turn your basement into a money-making machine? You won’t have to work hard or do anything to earn extra income. All you need to do is turn it into a liveable space and find a reliable tenant.
You might be interested in knowing that well-designed basements rent at 75% of your monthly mortgage, which means that your investment in the remodeling process will be quickly recovered.
If you plan to renovate your basement into a rental suite, check the local building code for any requirements you need to fulfil. For instance, the finished basement must have a bathroom, a bedroom, a kitchen, and an easy emergency exit. On top of that, you might want to offer something extra, such as a separate entrance for privacy.
Your basement renovation specialist will help you understand the local requirements as well as what’s demanded by the tenants.
5. More Comfort
Extreme weather conditions can make your life tough. If your area is prone to chilly weather, it’s time to tap into the comfort potential of your basement. If you don’t already know, basements are warm in winter and cool during the summer.
Nothing feels cozier than having a family room in the basement. Cooler bedrooms mean no more air-conditioning during the summers. Hence, your basement not only allows for a comfortable living experience, but it also helps you save on energy bills associated with heating and cooling appliances.
6. Better Storage
If your basement is cluttered with items, it’s probably hard to use. Basement renovation can eliminate those mildewed boxes and allow for mass storage with proper shelving and organized storage fixtures.
If you run a business from home, moisture issues and cobwebs can damage your inventory and impact the quality. A finished basement can serve as an incredible warehouse, allowing for smooth business operations.
If you desire to be an entrepreneur and have a business idea, your basement is a great place to start your entrepreneurial dream. Countless individuals are running their e-commerce stores from homes and store their stock in their basements.
An unfinished basement is an untapped resource that can be utilized for various purposes. If you found the above reasons to finish your basement valuable, start planning your basement renovation today. When it comes to renovating your basement, there are endless possibilities. Take the time to plan the space out depending on your purpose before pursuing the project. BCR Basements can make your basement renovation dream a reality. We have completed countless basement projects and would love to help you make the most of your basement. To request an online quote, click here. To get in touch, dial +16477744589 now.