Once upon a time, basements were little more than root cellars or coal holding areas. But nowadays, they are additional living spaces just waiting to happen. If your basement is currently only housing spiders and dirty laundry, now is the time to consider a remodel to finish it and increase your home’s value.
Return on Investment
Finishing a basement is one of the most surefire remodels for a good return on investment. On average, homeowners who finish their basements see 70%-75% of what they spend come back in the form of increased property or resale value. This means that you can relax knowing that you’ll see both the value of everyday use in your new living space and improved resale value down the line.
Zoning and other considerations may prevent you from creating additional living space through an addition or a dormer, but you can still increase your livable square footage. And even though the space below grade often doesn’t count towards square footage of the home for resale, buyer love to see that it has been done. A finished basement is a great place for a spare bedroom, an additional bathroom, or even recreation space like a movie theater or game room. If you have enough space, you could even create a full suite down there, with a bedroom, bathroom, and mini kitchen. There are many considerations to any addition (like providing appropriate egress), of course, but they could be worth it in the long run.
Finished basements are a great way to add a rental unit or in-law suite to a house. You can then rent out the space yourself to add additional income or even offset the cost of the remodel. If instead, you’re flipping or otherwise looking to sell the house in the future, this can be a great selling feature. A lot of homebuyers look for property that includes a rental unit to offset the costs of the mortgage.
Finishing a basement can be one of the most cost-effective home remodels. For starters, most people don’t expect high-end finishes in basements. In fact, some expensive elements, like hardwood floors, would be a terrible decision below grade because of the potential for moisture. If you’re handy, you can even do some of the work yourself, offsetting the remodel costs a bit.
Matthew’s Construction & Design
If you’re looking to improve your landscape, look no further! We can adhere to all of your remodeling needs, interior or exterior. Matthews Construction has the expertise and equipment to make your dreams a reality. We are committed to providing our valued customers will excellent service and top-notch quality. If you are interested in learning more about what we can do for your home, give us a call at (202) 702-3553 or visit us online. For more tips, follow us on Facebook, Twitter, Houzz, and Google+.