There are many perks to finishing your basement. From secondary hobby space to increasing your home’s value, here are the main reasons why you should finish you basement.
It Adds Value to Your Home
One very important reason a homeowner finishes their basement is to add value to their home. The cost of your home increases when finished square footage is added. A basement is a very cost effective way to add finished square footage. Unlike expanding your home, which includes a new foundation and all new materials, finishing your basement is very cost friendly. The space is already in place for you, it just requires finishing it.
Extra Income
In addition to adding value to your home, a finished basement can also add income. If you finish your basement as a separate unit, then you have a great space to rent out to someone. This approach is a great way to get a return on your basement. As the homeowner, you can easily make back what you invested into finishing the basement.
Increased Comfort
We have encountered many real estate agents who refuse to go into a basement when showing a house, including John’s wife Cindi. Basements make for creepy, undesirable spaces, especially in older homes. By finishing your basement, you take a space that gives you the creeps every time you have to seek out those holiday decorations from storage and you turn it into an extension of your home. It makes an undesirable space in the home more comfortable. Goodbye basement goosebumps!
Multi-Generational Living
Another great reason to finish your basement is to help out family members. We see a lot of basements finished for multi-generational living. It might be to move in elderly parents to care for them. It could also be to use the space for a married son/daughter and their spouse while they save up for their first home. This is a great way to welcome family members back into your home for an extended stay while giving them a space that feels like their own.
Bonus Space
The final and most awesome reason for finishing your basement is the added bonus space. The basement is your oyster! You can turn it into your ultimate hobby or private guest space. We have installed so many different activities in basements, each new thing gets us rethinking our own basement situation. Here’s a few examples of what your basement might include:
- Guest Quarters
- Master Suite
- Guest Room
- Guest Bathroom
- Fitness Center
- Home Gym
- Yoga Studio
- Sauna
- Office Space
- Entertainment Mecca
- Movie Screening
- Games Area
- Wet Bar
- Music + Podcast Studio
- recording studio
- soundproof room
- For the Kids
- kids play area
- teen hangout space
As you can see, the possibilities are endless!
