How A Finished Basement Can Increase Home Value
Finishing the basement of your family’s home is beneficial in several ways. Not only will you gain living space, but it will also increase the monetary value of your home.
Create More Living Space
Whether your family has grown since you purchased your home, or you just need more room take a closer look at your basement. Several ideas for your additional space are:
- Family room
- Recreation/game room
- Additional bathroom
- Laundry area
- Arts and crafts area
Some areas of your basement need to be finished by professional craftsmen, such as electrical or plumbing work. Make sure you shop around for highly recommended, experienced contractors. If you’re a handyman, you can do a lot of the work yourself. Customize this new space specifically for your family’s needs.
Finishing your basement can solve space shortage. It’s a cost-effective way for your home to grow with your family. Adding rooms to your basement is a cheaper option than adding rooms to your upper living areas.
Increase the Monetary Value of Your Home
Having a finished basement in your home when you’re ready to sell will increase the market value. The appraisal of the basement area is different than that of the upper living area. The appraisal will be approximately 50-70% of the upper levels, but you will still see a profit in the overall selling price of your home.
Things to Consider
Before finishing off your basement, make sure that there aren’t any signs of leakage. If so, make the necessary repairs before starting any work. Choosing high-quality products, such as carpeting or wall paneling, will add to the value. Make sure that the quality of your space in the basement meets the same high standards of the upper levels.
Working with professional contractors to complete the job will save you time and will be less stressful for you. Your family will enjoy the extra space for years to come, and you can look forward to monetary gains when selling your home.
Looking to finish your basement? Don't wait, contact a skilled contractor at Rashid Construction today!