There are many types of home improvement projects of which basement renovation is pretty common. House owners in Canada repair and renovate basements for several reasons. These projects have several advantages. Home owners are often faced with the dilemma of whether or not to go in for renovation of this space overlooking the many benefits that it brings with it. If you are one such home owner, then check out the following advantages of renovating the basement of your home.
- Creates additional space in your home: Renovating the basement creates additional space in your home that you can use for various purposes. Making it habitable will allow you to utilize the space as per your requirement. You can create a kids play zone or a workout area or have a mini bar and use the space for entertaining. Possibilities are countless that could actually help you save money on these accounts.
Also if you have a large family, creating a bedroom and bathroom in this underground space will make space for other members of your family. If your parents are planning to move in with you or you are planning to have children or if you have frequent visitors who stay over, this extra space can be extremely useful. Basement renovation will spare you the need to move into a larger accommodation which might be expensive. You can renovate the space depending upon its size and make structural changes accordingly.
- Increases the value of your home: Basement renovation of your home will enhance its value immensely. A home is appraised on the basis of the finished square footage. If you have a well finished underground area, you are sure to get returns on the investment that you make for renovating the space. You can add the amount you spend in renovating this underground space to the value of your house and quote a price accordingly when you sell. When your property is valued higher, you will also get a good price and faster re-sell when you wish to put it up for sale it. A home with a finished basement appeals more to buyers who are willing to pay more.
- Additional Income: A finished and renovated basement can help you earn some additional income. You can rent it out for various purposes. All you would need is a separate entrance, windows and parking space for your new tenants.
So if you are the owner of a home with a basement who has been mulling with the idea of renovating it, take a look at these advantages and go for it!