There are plenty of benefits when it comes to remodeling or finishing your basement. Not only will you have a new and comfortable space but you will add significant value to your home.
Let’s take a look at some of the things you can do to your basement to improve your home.
Create a Usable Space
Turn your basement into a space you and your family can use.
- Guest Room. Adding an additional bedroom to your home is always a good idea. Whether you use it for guests or family members an extra bedroom is always a plus.
- Home Office. If you have the luxury of working from home, the basement is a great place to set up an office. Consider installing noise reducing products to make it a more comfortable work zone.
- Family Room. Having a place dedicated for you and your family to be together and relax could be very beneficial. We spend a lot of time away from our families nowadays so having a space to be with them is invaluable.
Add Value to Your Home
There is a high demand for homes with lots of space for big families so having a finished basement makes your home very marketable. Even though it may not be considered “livable square footage” by most real estate listing services, it will bring in a high return value. Finishing a basement, on average, will give you a return of 70%~75% of your investment.
Properly insulating your basement is as important as insulating your attic. The basement should be sealed up and insulated to reduce energy use and control drafts. One of the best ways to get rid of drafts is to seal gaps around pipes, electrical lines, vents, and windows that lead outside. Follow up by using the proper insulation on walls and the ceiling.
Basement apartments are a great way to receive extra income and add resale value to your home. Many basements rent at 75% of the cost of your monthly mortgage, which this a great way to lighten the load of your monthly mortgage.