In the past, the basement was commonly ignored and neglected, often used to store away old boxes, collections, and other items that rarely saw the light of day. But today, homeowners are eager to maximize every inch they can get in their home. The basement is a versatile space that can be transformed into almost anything you need – a home office, guest suite for relatives or playroom for the kids. To see why a finished basement is a worthy investment, here are some of the most common reasons homeowners choose to remodel their basement.
Create More Room to Enjoy
Do you feel like you could use a little extra space in your home? One of the main reasons why many homeowners decide to remodel their basement is to maximize their space. A finished basement lets you take full advantage of your square footage. Since the basement is off of the main floor, it’s an excellent area of the home that can be customized to suit a variety of different purposes, such as a home office, workout room, den for the kids, or even an entertainment room complete with a bar. With so much open and unused room to play with, it’s an area of the home where you can truly make work for your needs and budget.
It’s a Good Return on Investment
A finished basement is a worthwhile investment because it increases the value of a property. Buyers today want a turn key home where they can move in with minimal effort that doesn’t require a substantial amount of reno work, beyond a few basic cosmetic improvements. And the demand for a finished basement is almost right up there with a re-finished kitchen. Renovating the basement will provide you and your family with more livable space to use, while also boosting the value of your home if you ever plan on putting it up on the market in the future. In many cases, the ROI is more than 100%. So it’s a win-win.
Make Extra Income with a Rental Unit
When your basement is in a livable condition and is up to code, you could also rent it out and make additional income. With a tenant living in the basement, you could have a consistent influx of money every month, which can help you pay down your mortgage faster, save towards retirement, or spend on some luxuries.
Enhance Your Storage Capacity
An unfinished basement might be ideal for storing away items you never really need or use once a year, but it’s not a great way to keep your belongings organized or safe from mildew and moisture. A cluttered basement is also a potential haven for mold and pests. With a basement remodel, you can dramatically improve your storage capacity with shelving units that will keep everything off the ground and safely stored without the risk of mildew or moisture ruining anything. It’ll also make it much easier to find anything you need without tripping over other boxes.
Improve Your Comfort at Home
The long winter months can feel tedious when you’re cooped up indoors with the kids for such a long period of time. Especially with work-from-home and lockdowns, this sentiment has never been more true. But with a finished basement, you always have your own space to retreat to or let the kids play in to give you some peace and quiet while you work.
Save on Energy Costs
Unfinished basements are more often than not poorly insulated and have older windows that can contribute to air leaks. This can make your HVAC system work harder to maintain a consistent and comfortable temperature throughout your home. Getting the basement redone with adequate insulation will not only help to reduce energy costs, but it can also prevent moisture leaks from occurring and damaging the foundation or your furniture and belongings.
An Extra Guest Suite
Having an extra guest suite in the basement is ideal when friends or relatives decide to visit. You can give them plenty of personal space with additional privacy away from your bedroom, which makes it more comfortable for everyone.
Taking Care of an Aging Parent
That extra space can also come in handy if an aging parent requires round the clock care and needs to move in with you. With a bright, comfortable and safe space for them to live, you can look after your parent while still having enough room to breathe and avoid stepping on each other’s toes.
Thinking about remodelling the basement to create more livable space at home? Contact our team at RenosGroup.ca in Ottawa. Our reno experts can discuss your needs and budget and will help transform your basement into something that you will use and love. Get in touch with us today!