When it comes to adding value to your home, one of the best ways to do so is to make the best of what you already have! If you want to avoid incurring any major renovation costs, then your basement is the best place to start. When a basement is finished properly, it’s certainly a proud moment for the owner when they give the expected tour when guests arrive. After all, isn’t the basement just a breeding ground for an adult’s dreams? Whether it be a gym, home office, or as most of us are thinking, a magnificent entertainment room, the basement can serve to add a lot of value to your home.
Nowadays, most of the potential homebuyers in the market prefer a home that already has a finished basement. Therefore, not only would the finished basement add value to your home, but it would also serve to bump you higher on the buyer’s decision priority.
It is important to remember that just because an owner says that they have a finished basement doesn’t mean a buyer will truly consider it a finished basement. Some buyers want to see the proper permits before taking your word for it. And one thing to note is that appraisers do not generally consider a basement finished unless it is heated.
If you are planning on doing the work on your own, make sure to do the proper research into any permits that you may need before doing the work. Failure to do so could result in you being charged a fine on top of getting the permits after the fact.
As a final note, here are a few tips for those planning on renovating their basement.
- Unless you are a professional yourself, it is best to hire a contractor when it comes to electrical, plumbing, and insulation renovations. This can ensure that the projects are completely properly.
- Make sure you schedule enough time for the basement renovations to be completed before you post your house up for sale. It wouldn’t do you much good if your real estate agent brought over a potential client to only see a half finished basement would it?
- Incorporate the basement flaws into the actual design! Basements generally have low ceilings, miscellaneous duct work, structural posts, pipes, and valves which can be accommodated for in your design as long as you keep it in mind. Forgetting about these flaws will only get in the way and cost you a pretty penny if you try to have them redesigned or removed.