Your basement could be a treasure trove when it comes to adding real value to your property. Many homeowners in America think of their basement as a simple place for storage, and by doing so they could be limiting the amount of value their properties really hold. Finishing your basement can create a huge selling point for prospective buyers, it can give you more space for living in and enjoying your home, and it can help you to give yourself a more financially valuable property in one renovation project.
The Benefits Of Finishing Your Basement
If you aren’t sold on the idea of finishing your basement, learning a few of the benefits can make your decision a whole lot easier. Some of the biggest benefits of finishing your basement are:
• You can add an additional bedroom – Growing families often find themselves running out of room quickly, and they may consider selling their home and going through the whole home buying process again simply to get the additional room or rooms they’re looking for. When you finish your basement, you can get the living space you’re looking for and it’s completely customizable.
• Adding in additional bathrooms – Just like adding in additional bedrooms, you can finish your basement to incorporate an additional bathroom as well. Adding another full or half bathroom to your space can improve the livability of your space and add monetary value at the same time.
• You get a solid return on your investment – If you’re planning to sell your home in the near future, you’re likely looking at renovations and projects that really add value to your home. Finishing your basement offers an excellent return of around 70 to 75% of what you put into your renovation. By creating more livable space in the home, it also helps your home to sell more quickly.
• You can add in a rental property – To offset the costs of a mortgage, many American families are renting out spaces in their homes. Finishing your basement allows you to add in a full rental property depending on the size of your basement, which can help you to bring in more income each month. With a rental property, your renovations will be paid for over time, and you’ll make an investment that continues to work for you.
• Adding entertainment space – An entertainment space like a home theater or game room can be a highly sought after novelty for prospective homebuyers. Like pools or hot tubs, it gives them something that sets you apart from all of the other homes in their minds. Renovating and finishing a basement gives you just the space to make this happen.
Maximizing The Potential Of Your Home
Renovating and refinishing your basement helps you to really maximize the potential of your home. If you’re considering finishing your basement, we can help. Contact us at Global Construction to see what we can do for your basement or other areas of your space today.