4 Top Benefits Of A Basement Renovation
Basement renovations can give your home more value per square footage than any other home renovation project. Regardless of whether you're upgrading your basement because it's outdated, or you're finishing it for the very first time, this is a wise investment and will give you a good return on your investment.
Additional Living Space
You can practically double your living area if you to renovate the basement rather than do any other project to renovate your home. You can use the space for whatever you desire. You can add more bedrooms if your family is growing. You can use it as a recreation room, add in a second bathroom, make a playroom, a home theater, an office or even simply use it as additional storage space. Heilman's Renovation will work together with you to make this space whatever you need it to be.
Increase Your Property Value
Finished basements offer you a better value. You can greatly improve the resale value of your home should you decide to sell. With the additional living space and storage, the value of your home will increase. Also, a basement is a wise investment. You can recoup 70.4 percent of your renovation costs depending on the specific renovations that you've done, you may even recoup even more than that.
Create Additional Income
If you can afford to renovate your basement, you may wish to consider building a secondary suite that you can use as a steady revenue stream. These can often be rented out for about 75 percent of the cost of the mortgage. This will quickly help to offset the cost of the space and help you to pay it off more quickly. As an added bonus, you will also increase the resale value of your home.
Professional Basement Renovations
If you have an older home with a finished basement in need of an upgrade, you'll probably want to leave this task to a general contractor. You never know what may be lurking behind the walls of older basements. You may run into bad framing, amateur electrical disasters, leaking pipes, mold, and any other number of strange things. When you hire a professional, you're going to have a lot less stress and a lot more time on your hands. You'll also save a lot of money, especially if there are plumbing or electrical issues that must be addressed. A general contractor will also ensure that the required permits are in place and they'll have the right licensed trades come in to do the work so that it's all done right the first time.