How Can a Finished Basement Add Value to Your Property?

How Can a Finished Basement Add Value to Your Property?

Did you know the damp and dark basements that lay undisturbed beneath your living area can add exceptional value to your property? If you have turned your basement into a storage shack like most other the people, it’s time that you consider turning the tables around.

A well-finished and a well-maintained basement can increase the value of your property in the market. You may not realize it now, but people would love to invest in a property that gives them some extra usable space. Here are a bunch of different ways to get a finished basement that adds value to your property:

1. Additional Bedroom

In order for a room to be considered a bedroom, it needs to comply with two requirements; it should have a window through which a firefighter can enter, and a closet. To create a window-like opening, you might need to cut through the foundation walls of your home.

If you hire a professional basement finishing company that is skilled and experienced at this job, you can have one or even two additional bedrooms in your basement. With two additional bedrooms in your house, your property is sure to appeal to buyers a lot more.

2. Additional Bathroom

Adding a bathroom to your basement requires a lot more work and money than simply creating more rooms. Extensive plumbing work will go into setting up a functional bathroom. Although the upfront cost may seem overwhelming, a house with an additional bathroom will surely be a catch in the market.

3. Return on Investment

A finished basement increases the value of your property – it gives an excellent return on investment. According to statistics, homeowners were able to recover up to 70% of the investment that went into getting their basement finished.

4. Addition of Space When Zoning Codes Restrict Other Additions

Zoning codes restrict homeowners from expanding their properties in certain ways. They may not permit you to expand your property out if houses are too close to one another. You may also be stopped from expanding your house upwards if your house is already two-stories tall. In such a situation, the basement is an excellent space that can be utilized. A finished basement can serve as a proper living area if the finishing is done right.

5. Additional Income

A finished basement can help you earn an additional income. You can get your basement finished and remodeled and rent it out after getting approval from the zoning department. The presence of a rental unit within the property may also intrigue buyers to buy your property at a higher price, which is, again, a major benefit for you in the long run.

Summary

A finished basement can add value to your property. It enables you to have extra bedrooms and bathrooms in your house, earn some extra dollars through rent, and give a boost to the value of your house in the market.

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