Does a finished basement add value to your home? Of course, you know that finishing your basement will additional square footage to your home, but did you know there are many other ways that finished basement will enhance your home investment? Here are 8 surprising ways that a finished basement can add value to your home:
Energy Savings And Comfort
One significant value from a finished basement is savings on energy bills. Unfinished basements tend to have cracks where air conditioning or heating leaks out. By properly sealing and insulating your basement, you will put less strain on your HVAC system and save money on your energy costs. Better yet, you will also gain a more comfortable home at the same time. As a matter of fact, a well-insulated basement may very well be the most comfortable room in your house in summer and winter.
Healthier Home
Do your family members suffer from allergies? Because unfinished basements can be damp, they provide a good environment for molds and fungus to grow. How does a finished basement add value for health? Finishing the basement keeps the moisture out, eliminates mold growth, and prevents unhealthy air going through the rest of your home.
Quality Family Space
Does a finished basement add value for your family life? Whether you make your finished basement is a simple T.V. room or a luxurious home theater, chances are your family will often gather there to talk, share memories and relax. Finished basements add value to your home by creating spaces where you can build family memories like:
- Family game and pizza night.
- Watching sports together or working out together.
- Doing hobbies or crafts together.
- Celebrating holidays and birthdays.
- Hosting family reunions.
Organization
Most basement space is not used effectively and most homes really need more storage space. How does a finished basement add value in organizing a home? A finished basement design can include shelving, storage closets, and other organizational features which add value to your whole house by getting it uncluttered. Even if you use most of the basement space for other purposes, you can add shelving and storage under the stairs for Christmas ornaments, out of season clothing, or other items you need to stash in an out of the way space.
Flexibility And Creativity
In the main level of a house, you often have limited choices in changing the floor plan. However, in a basement, the design is up to you. You can create one main space, or divide the space into two different rooms. How does a finished basement add value in your use of our home? Your finished basement can actually save you money by preventing you from needing to do major remodeling in the rest of your home. If there is anything you “wish you could have” in your home, you can do it in your basement remodel. Here are some of the creative ways people use finished basements:
- Exercise room.
- Sewing, scrapbooking, art or craft space.
- Safe play space for kids or grandkids, or a game room for teens.
- Guest bedroom, or in-laws apartment.
- In-home office.
Income Generator
How does a finished basement add value after the kids are gone? Consider creating a finished basement into a space that could be converted to a basement apartment. Basement apartments add both extra income and also resale value. Some basement apartments can even repay all or part of the cost of finishing the basement space.
Resale Value
Not only does a finished basement add value to your home by increasing the useable square footage, a finished basement makes the home more appealing to buyers. A finished basement represents possibilities to a future buyer and adds character to the home. When they see a finished basement, buyers envision:
- A home with a unique footprint.
- A place is finished and not a fixer-upper.
- Spaces that are for family activities and entertaining.
- A house that is big enough for a growing family, for entertaining, and for hosting visits by friends and family.
Good Investment Value
According to annual surveys by Remodeling, a basement remodel gives back more value to a home than other home additions. The Remodeling 2015 Cost vs. Value report cited that a finished basement added 72% of the cost of the remodel to the house value. By comparison, sunroom additions added only 48% of their cost, master suite additions were 61% of the cost, and family room additions were 64%.
Does a finished basement add value? The bottom line is yes. If you are looking for a good value for your money in remodeling your home, finishing your basement is a good investment. With a basement remodel you will be able to enjoy your home more, and also know you’ve made a smart financial decision.
