Whether you are planning to sell your house within the next 10 years or right now, the choice to finish your basement is a huge one. Thus, you have to think about a lot of factors first.
The two major factors to think about are the ROI (Return on Investment) and the cost of the project. When you’re planning to sell your home, every penny you invest into it should earn some type of ROI.
When it comes to adding value to your house, a basement finishing project has some immediate ROI. So, how does finishing your basement add value to your house? Let’s find out.
Humidity is one common feature of a basement. The truth is that humidity is the reason why a lot of flooring and insulation won’t work in the basement. The materials will simply absorb the humidity.
For insulation, this means that it will not work and you’re only wasting your money and time. For your flooring, the materials will swell. This leads to warping and buckling. Aside from that, it will get worse.
The humid and dark areas are excellent environments for mildews, molds, and bacteria. Aside from causing foul odors, it can also lead to health issues or an increase in health concerns. Mildew, mold, and dust in the house usually cause indoor allergies. Properly finishing your basement can lower the risks of these things and get rid of some severe health issues.
Before you finished your basement, this area was in a constant state of loss. During the summer season, you might have noticed that your house was more difficult to cool. During the winter season, it appeared like your house was more difficult to heat and always had a draft.
The reason for this is the lack of insulation in the flooring and walls of your unfinished basement. If you finish it, you can cool and heat your house without any issues. This leads to lower energy bills. It’s also an excellent selling point.
More Living Area
When you finish your basement, you’ll have an additional space to do whatever you want. You can transform your basement into a guest suite with a bathroom, a sports room, a theater room, or a storage space. If you have a finished basement, you’ve got infinite possibilities.
Finished Basements and ROI
When looking at the ROI of your finished basement, you’ve got to keep in mind that most of the value of your house is going to be evaluated by all of the above-ground space. The above-ground spaces include bedrooms, bathrooms, kitchen, and living room.
Of course, you are still going to earn an ROI for your finished basement. However, it will not be the same as the above-ground spaces.
Typically, the ROI of a finished basement is around 70%. However, this is just the immediate monetary ROI if you’re planning to sell the house. You can still increase the ROI if you make a bit of change in the basement, such as transforming it into a usable space.