Are you scared to go into your basement alone at night? Well, you can kiss the chills on the back of your neck goodbye after a basement remodel! Not only are remodeled basements more comfortable and friendly for human inhabitants, but they also expand the livable space of your home, and can even turn a profit.
A remodeled basement creates a great space for families to gather. And it makes for a comfortable place to house overnight guests. It also adds value to your home and makes your house a healthier place to live.
So if you’re interested in how a change below ground can improve your life, read on to learn why remodeling a basement could be the right move for you!
1. A Finished Basement Will Increase Your Home’s Value
If you’re lucky enough to have a basement then your home will already sell for a higher value. But homes with a finished basement will sell for more than homes with an unfinished basement.
You can expect about a 70% return on your investment when it comes to selling a house with a finished basement. In other words, for every $1000 you spend on remodeling your basement, you can expect to get about $700 of it back.
When it comes time to sell your house, your finished basement will definitely be a selling point, as finished basements tend to be rare. Simply being able to generate interest in your house will help you sell your house when you want, at the price you desire.
2. It Creates Extra Living Space
The main reason for renovating a basement is to create more useable space in which to live. Once your basement is finished, you can use the space for whatever you want. You can have a nice utilitarian area for laundry and storage as well as a space to spread out.
A finished basement makes a great play area for kids, a comfy spot for a home theater, and extra space to entertain guests during parties. You can add a home bar, or simply have more room to spread out and enjoy each other’s company.
For those who have hobbies that take up space such as artists, sewers, and musicians, you can use a finished basement to house all of your gear in order to keep a clutter-free home upstairs.
3. A Basement Is Healthy for the Home
An unfinished basement is naturally a dank and moist place. Over time cracks can develop in the foundation which leads to leaks. And how do all of those spiders find their way down there? Yuck.
Excessive moisture in the home can lead to mold, fungi, rot, all of which can appear in an unfinished basement. Leaving a basement unfinished puts your entire family at risk for experiencing health problems related to these issues.
The act of remodeling a basement will address all these issues and seal up your space. Having proper insulation, flooring, and a ceiling will make your basement a healthier place to live. During the process of having a basement remodeled, we will also shore up your foundation which will improve the longevity of your home.
4. A Finished Basement Is More Comfortable
Speaking of moist areas and spiders, have you considered how much more comfortable a finished basement is? Even if you use it for laundry and storage, a finished basement is a much more pleasant space in which to be. No more stepping on a cold, dusty concrete floor. No more mysterious leaks or stains. A finished basement is no longer a scary place to go!
And what a great place it could be to host overnight guests. A finished basement creates a comfortable living space for friends or in-laws who come to visit. You’ll have plenty of room for an air mattress or fold-out bed, and it will be easy to tie into existing plumbing for an additional bathroom. That way everyone is spread out and has their own space.
Plus, a finished basement makes a great place for kids to host their pals for sleepovers!
5. You Can Turn It Into a Rental Unit
If your house is big enough and your basement has a separate entrance, you could consider remodeling it for conversion into a money-making rental unit. At that point, your basement would be considered an accessories dwelling unit (AUD) and would have space for sleeping, eating, and bathing. An AUD is commonly referred to as a mother-in-law apartment.
Creating a mother-in-law apartment for a rental could help provide a steady stream of income. The income from the rental unit could be used towards paying your mortgage, other remodeling projects around your property, or going towards a downpayment for an additional rental unit if you find that being a landlord suits you.
As a landlord, you could offer a long term lease contract and have one tenant for a year or more. You could also consider posting your suite on a website like Air BNB and charge a nightly fee for travelers. Keep in mind, this option requires you to manage your rental page as well as clean up after guests after their stay.
Another bonus of creating a rental unit in your finished basement is you’ll have a place for aging parents and family members to stay. Should you need to live in close proximity to care for an aging family member, you’ll be set up and ready to go with a complete living space.
This could be a good option for family members who wish to maintain their independence, plus it would save on the cost of an in-home caretaker or residence at a nursing home.
Why Remodeling a Basement Is Right for You
Surely a remodeled basement offers benefits that will fit your needs and lifestyle. Remodeling a basement is a big job, so it’s important to hire an experienced company that performs quality work.
If you have an idea of how you want your remodeled basement to look, give us a call for a quote today! We will be happy to talk you through the steps and help in your design process.