Looking to squeeze the most out of your home?
Projects that bring the highest return on your investment tend to be those that add space to your house. If you’re adding usable square footage, a good chunk of what you spend on the remodel will likely be offset by an increased home value and a higher selling price, should that time ever come.
When adding usable space, homeowners tend to think of bumping out, adding a second floor, expanding a kitchen or bedroom, or converting a garage to living space.
However, your house might have a gold mine already within its walls: an unfinished full or partial basement.
The ROI of a basement remodel
A basement remodel is among those projects with the greatest long-term value, alongside home additions and the conversion of underutilized space to bathrooms, bedrooms or an expanded kitchen.
Typically, basement remodeling projects net an ROI of about 70%, meaning that of every $100 you spend, $70 goes straight toward increasing your home’s value.
Of course, ROI isn’t the only reason to decide to remodel. Most homeowners in Whatcom County aren’t trying to sell but rather planning to improve their homes to better enjoy a more beautiful and functional space.
Whether a sale is in your future or you’re looking to improve the home you live in, here are some pros and cons to remodeling a basement.
Pros of remodeling your basement
- More livable space — without expanding your footprint. Depending on its size, a remodeled full or partial basement could add a bathroom and bedroom in space that’s already part of your home. What could be better?
- Higher resale value. As mentioned above, the larger your home, the more it will gather in a sale, generally speaking. A heated, finished full or partial basement counts as increased square footage.
- Dedicated space for certain tasks. A finished basement could become a dedicated space for gaming, sewing, working out, washing laundry or a hundred other things you might enjoy — without impacting the aboveground space you already use.
Cons of remodeling your basement
- Cost. Of course, a remodel isn’t free. You’ll want to weigh the pros and cons of a remodel before deciding whether the cost is worth it. (Remember, though, that you’ll be adding value to your house in the long run.)
- Moisture could be an issue. This is not an insurmountable problem, of course, but it’s important to remember that basement spaces need to be protected against water intrusion through the walls. Hudson Remodeling’s crews can help you understand whether your basement is a good candidate for finishing, depending on existing water issues.
- Loss of storage space. If you’re using your basement for storing all those things you couldn’t find a different home for, you’ll need to confront the fact that you might be losing some of that space. Talk with Hudson about building some storage into the remodel, or use your basement remodel as an opportunity to clear out some clutter you don’t really need.
To begin a discussion on turning your underutilized full or partial basement into the extra space you’ve always wanted, give Hudson a call today. Here are some ideas for what you can do with a basement.