There are many reasons why people would want to finish their basements. And trust us, we have heard it all. From adding additional space to increasing your home’s value, there are many great and valid reasons why you would want to complete this task. Here are the top 10 reasons why homeowners finish their basements.
Increase Home’s Value
Bigger, updated homes sell for more. That is a fact. By finishing your basement, you are adding square footage to your home; therefore, increasing your home’s value. Depending on the update and if you follow all your local building codes, you will see an increase in the value of your house. When remodeling a home around the St. Louis area, expect to get about 60% on the return on investment. This means you will get about 60% back of what you spent on finishing your basement when you sell your property. For more ways to increase the value of your home, check out this guide.
Add Additional Living Space
Sometimes your family grows to the point where you can’t house everyone in the upper part of your home. In other cases, you take in additional family members or friends. Some homeowners may even want to take on a tenant to make extra money. No matter the reason, many people finish or renovate their basement to create additional living space. Depending on the size of your basement, you may be able to create two or three rooms. If you want to make it into an apartment, you will want to also add in a bathroom and a kitchen or kitchenette.
A common reason people update their basements is that it is not functional. What unfinished basement truly is? Instead, many homeowners want this additional space to be useful. For example, creating an office or laundry room would create a great purpose in the space.
Add Additional Space in General
Your basement does not have to be only living space. Instead, it’s just a great way to add additional space in general to your home. Then, you can do whatever you want to the area — entertainment room, wine cellar, etc. To help give you more inspiration, check out these five different ways to utilize your basement.
Create a Modern Home
Modern homes have finished basements. If you want a home that is considered modern or contemporary, you need to complete the basement. Once you have this contemporary home, it will accomplish most of the other reasons on this list.
Expand Square Footage
As we mentioned above, bigger houses sell for more. Therefore, a common reason homeowners renovate their basement is to expand the home’s square footage. Your home’s value is determined starting with the square footage of your home, and once that is determined, an appraiser will add on the updates you have.
For many homeowners, having a finished basement boosts their overall comfort in their homes. What person likes the feeling of having something unfinished in their home? Unfinished basements are prone to dust, bugs, pests and other issues. By renovating or converting your basement, you are not only upgrading it but adding comfort as well.
Create More Appeal
Out on the housing market, which house do you think is more appealing — a home with a finished basement or one with an unfinished one? The answer is a finished basement. People are more willing to look and purchase a home that has a finished basement. Why? Because it is one less step they have to worry about when they move in.
Another common reason why people remodel their basement is that it is outdated. As you know, any part of your home that is not updated within 10 to 15 years is out of date. So many new technology and sustainable advances have come out that you will want to add to your basements, like smart technology, waterproof flooring and more. To see what Valor Home Services can upgrade in your basement, give us a call today.
Create Versatile Space
A finished basement is one of the most versatile spaces in your home. As we mentioned above, you essentially can do whatever you want with it. The options are limitless. Here are some conversions you can try:
- Entertainment or game room
- Wine cellar or bar
- Craft room
These were just 10 reasons why homeowners want to finish their basement. There are many different reasons why you would want to upgrade this area. To help you create the basement of your dreams, our skilled team of experts at Valor Home Services is ready to help. For more information or to book your appointment, give us a call today.