Why develop your basement? What are some of the benefits to undergoing a renovation project this coming spring? It might surprise you as to how many benefits there are for upgrading your home’s unfinished lower ground floor.
Before you go about redeveloping your basement or even if you are currently in the midst of making your dream renovations, know that any home improvement is a massive investment of time and money. If you are moving and looking to upgrade the value of your home, certain renovations to your basement may boost the worth of your property. Basement Builders, a renovation development company in Calgary, Alberta has said that sitting on an undeveloped basement is a wasted opportunity. You can add a lot of value to your home simply by developing your basement, whether you have plans to move in the near future or not.
1. Your basement is an incredibly versatile space
Have you ever wanted an at-home gym? What about a spare room for guests and relatives? The benefit to renovating your unfinished basement is the versatility that comes with the additional floor. A finished lower ground floor can be anything, so long as you have the means to go about making your renovation dreams a reality. The possibilities for what your finished basement could become are endless.
Consider various exciting additions such as the following:
- A man cave or a sports bar, for an enticing space to hang out with friends. This upgrade is a popular feature for many homes and often serves to make properties seem more luxurious.
- An entertainment space or additional living room for a room to meet with guests, visitors, a book club, or even a spot for children to hang out with their friends.
- A home gym, which can help you save on a monthly gym membership and cut the additional commute of having to drive to and from your local fitness center. A home gym can also encourage an active lifestyle for a homeowner or renter.
Buyers in your area may be more enticed by the prospect of certain features. Consider doing some research into what amenities are most popular with buyers in your area if you are looking to sell in the near future.
2. A finished project adds additional appeal to your home
If you plan to stick around in your home a little while longer, you probably want a property that you’re proud of. What better way to add some additional appeal to your home than renovating your basement space? There’s a lot you can do with your basement that will upgrade it from cold, empty storage space to inviting hangout spot. Besides the aesthetic of having a finished basement, your renovated basement space might include various amenities that add other kinds of value to your home. Consider the addition of a bathroom, an entertainment space, or even a “man cave.”
On the other hand, if you are looking to move and want to sell your home, buyers might be more attracted to homes with finished basements due to the extra charm that these renovations may bring. In this case, you might want to pay attention to what buyers in your area are looking for when it comes to your next project. Consider consulting with real estate agents in your area for additional advice.
3. Finished basements can recoup a majority of the invested cost
Renovations of any sort may seem to you like costly endeavours. While it is true that some projects can be somewhat costly, remodeling your lowest floor adds some serious additional value to your overall property. In fact, adding value to your home itself is one of the major reasons why people undergo basement renovations in the first place.
So, while renovating or finishing your home’s lower ground floor may seem like a pretty considerable cost at first, most people do tend to get a large portion of that money back when they eventually decide to sell their home.
Adding value to a home can be done through any kind of renovation, since it adds a certain appeal and may also entice buyers depending on the nature of the modifications that you have made.
4. You get all that extra added space
Your basement is another floor of your home, which can be pretty considerable in terms of size once you’ve finished it and made the space usable. If your lowest floor right now is merely an added space for storage, think about all it could be. Do you really need all that room just for stowing away old tools and appliances? Think about what your finished project could be instead.
5. You can add extra rooms for guests, family members and other visitors
Given all that versatility and added space, a finished basement can be anything you want. Your newest renovation can be a great opportunity to add an additional living space to your home, whether for guests, visiting family members, or it can be even a spot to rent out if you’re looking to make some extra money. A walk-out basement can be essentially handy for this kind of investment, allowing for easy access for anyone who might be temporarily using the space.
If you have children, the added space might prove beneficial for when your kids grow up and are needing the extra room. The options are endless and entirely up to you!
Pre-Renovation Considerations
Before you leap into your next renovation project headfirst, there are a few things you may want to consider beforehand. First, you may want to enlist the help of a development or renovation professional in order to ensure every step you are taking is right for the task at hand. If you’re looking solely to add value to your home by finishing your basement you should know that not every renovation is guaranteed to boost your property’s worth. In order to ensure that your modifications and new installations are worth the time, money and effort you put in, consult with a professional.
As is the case with any renovation to your home, whether that be to your bathroom, bedroom, or your basement, upgrades are huge projects. Be sure you have all the right resources and a solid plan beforehand so that you can be confident you’ll be happy with the outcome of your finished project.
