Does Renovating the Basement Add Value?

Are you thinking about renovating the basement of your home? If yes, the first question that comes to mind is how much a large renovation like that will cost. Most homeowners consider basement renovation expensive; in this article, we will provide you with a comparison of the costs and benefits of basement renovation. Hopefully the information provided below will help you make that decision. Renovation is necessary in some cases, for instance, before selling the house. If you want to add value to your home before selling it, you should take care of every part of it.

 

Why Should You Invest in Basement Renovation?

Basement renovation is a great way to increase the value of your home, attract more potential buyers and negotiate a higher selling price.  Many people do not pay attention to the basement as they think this part will not affect the property value. Renovations can transform a basement into a pleasant and functional space, significantly increasing the usable square footage of the house. You can renovate your basement to transform it into a place perfect for watching movies with your family, an office, guest bedroom and additional bathroom, kids playroom.  The possibilities are endless.  If you want to sell your house in the near future, you should seriously consider spending some money on basement remodelling.  This will give potential buyers an additional space that is ready to be used as soon as they move in.

 

You can ask a professional renovation company about basement renovation costs. The cost of basement renovation needs to be weighed against the benefits you can gain from it.

 

How Much Will It Cost to Renovate Your Basement?

The basement’s square footage should be considered to get an estimate of the entire basement renovation cost. In most cases, the cost of finishing the whole basement is 1/2 to 1/3 of the total cost of adding a new main floor to your home. The cost is reduced because you do not have to add exterior cladding or windows because of the existing foundation walls. Hire professional renovation contractors to remodel your basement without breaking the bank. This way, you will ensure the amount spent on the basement renovation will be in line with your budget and expectations.

 

How Much Value Will a Finished Basement Add?

Adding value to your property is the major reason behind basement renovation and other renovation plans, especially if you are planning on selling your home. You can assess the value a basement renovation will add to your home by obtaining an evaluation of the sale price from a realtor.  Before finalizing the plans of finishing or remodelling your basement, take professional advice from an experienced realtor in your area. These professionals will determine the market value of your property by its square footage and will be able to give you an idea of the added value a finished basement space will add.

 

It is important to note that the value a renovated basement can add to a home depends on several factors, including its location, size, design of the space and quality of the renovation.  The quality of materials and craftsmanship, local real estate market conditions, and demand for basement-finished homes will all play a role in determining the added value.

 

Work With Rob’s Quality Construction Inc.

Basement renovation is a worthwhile investment to increase your home’s value. It improves your house’s appraisal and gives you a good market price. If you take help from professionals, there will be a lesser chance of losing your hard-earned money. Rob’s Quality Construction Inc. offers the best full basement renovation and remodelling services in Oakville, ON.