Adding to living space is usually a winning situation in a house. Basement remodeling is one effective way to accomplish this goal. When you renovate this area of a residence, a number of benefits come into play. Explore the ways you will come out ahead with this type of home improvement project.
Increasing Living Space
The understory of a house tends to have sizable square footage. This space is often under-utilized, limiting the way a family uses this area. By finishing off this floor with multiple rooms, an extra bathroom, and useful storage, a family can benefit significantly. This can be helpful for extra bedrooms for a growing family, a spare bedroom for guests, storage for household items, a rec room for the kids, a hobby room, a home theater, a workout room, or even a man cave for the guy of the house. It's possible to even double living space with full basement remodeling of a one-story ranch house.
Adding to Resale Value
Any time you add usable living space to a residence, the resale value of the house increases. When the project enables the addition of a popular type of space such as a home theater or a gym, the value might increase even more. Local real estate market will determine the final resale value increase.
Plentiful Design Options
Adding onto a home generally has limitations when you do it on the first or second stories. You will need to adhere to design and project constraints that will determine the size and design of the addition to ensure that the project blends with the rest of the residence. These limitations disappear with a basement remodeling job because of the internal configuration of the basement. There's no worry about making sure that the remodel fits and matches the rest of the house. In fact, you could even depart from the style of the rest of the structure and make this new living area something innovative and completely different.
Home renovation tends to be expensive due to the magnitude of this type of job. Generally, adding on rooms to a residence involves construction of additional foundation, walls, and roof. With a basement, these standard structural features are already present. This eliminates the materials and work time necessary to build these items, reducing the overall price of the project significantly. Interior construction of insulation, drywall, flooring, and ceiling will still be necessary, but these materials generally cost less to install.
Potential for Income
A number of income possibilities could be options after this type of project. If you create a self-contained apartment, you could rent it out for additional income. Creating a workshop or other type of hobby room might also enable you to start a home-based business to make money.
A basement remodeling project might be an exciting proposition, opening up new doors for a family in need of more space.