When house hunting, many people favor homes with unfinished basements. These areas offer the potential to transform the space into a room that can suit a variety of needs. Homeowners envision finishing their basements to create a room for entertainment, recreation or even as a guest suite. What often ends up happening, however, is that the remodel gets pushed to the bottom of the family's to-do list and years pass without any significant change in the basement. The team at Quality Craftsman would like to offer the following reasons to make this the year that you complete your basement remodel, and take advantage of the potential that lies beneath your feet.
Finishing Your Basement Boosts the Value of Your Home
Perhaps the best reason to finish your basement is to add to the square footage of your home. Unfinished spaces do not count in the total square footage of a home, which is why this project can bring an immediate increase in value. If the new space includes a bedroom or bathroom, the increase in value is even more pronounced. While individual circumstances vary, it is estimated that homeowners can recoup approximately 70 percent of the cost of finishing their basement when the time comes to sell the property.
Increase Energy Efficiency
Another reason to finish a basement is the ability to boost the home's energy efficiency. Depending on the climate of your area and the specifics of your home, installing insulation in a finished basement can make it easier to regulate temperatures throughout your home. Choosing energy efficient lighting and plumbing fixtures are also great ways to boost efficiency.
Using a Finished Basement as Income Property
In some cases, homeowners can finish their basement to use as a separate rental apartment. Doing so requires compliance with local regulations and permitting, but the result can be a source of income that could eventually pay off the cost of the remodel project. In some areas, this space could be used for short-term rentals. The space could also be used as an ideal guest suite or interim housing for adult children. When the time comes to sell the property, having an income producing apartment that can also function as an in-law suite is a big draw.
Adding Flexible Space for Your Family
One of the biggest benefits of a finished basement is the ability to customize that space to suit your family's particular set of needs. Your finished basement can be transformed into a home theater, a hangout for your teenager and their friends, the ultimate man cave or even a dedicated office space for a home-based business. As your family's needs shift over time, the space can be reconfigured to suit an entirely new set of needs. In fact, some families are content to use the finished space as additional storage.
The team at Quality Craftsmen is always here to help with any questions or concerns that you have regarding your next home improvement project. We have the skills and experience needed to take your project from concept to completion, within budget and on time. Contact us today to discuss your ideas to increase your home's value.