5 benefits of renovating a basement

There are so many reasons to renovate a basement. From having an entertainment room to additional bedrooms in the house, the sky would be the limit. 

Additional Storage

Unfortunately, your home may not have much space. You could tear down walls to make it look like the home is big, but it would only be an illusion. Basements and attics are your solutions. By renovating them, you would have large spaces to house any items you want. Frankly, the basement is easier to get to than the attic, so it would be the better of the two to do up. 

The amount of storage you get from the basement would be a lot if you’re smart and use more vertical storage than horizontal.

More Bed Rooms

How big is your family? Buying a property with many rooms may have been out of your budget. Thankfully, you can convert your basement into at least 2 new bedrooms. If it’s especially large, you could include a bathroom as well. 

Even if your house is small, it may be big enough for your family right now. However, you’re planning on having more kids in the future. You would have to move which would cost a lot, unless you do the remodeling. 

An Entertainment Room 

Considering how big basements can be, they would make excellent entertainment rooms. You would be able to install a large TV, sound systems and appropriate lighting to have a home theater. An excellent inclusion would also be a table-tennis or foosball table. 

The entertainment room would be beneficial, as you’d be saving money spending time in it rather than going out all the time. More importantly, it would make buyers interested in your property if you’re ever going to sell it.  

Passive Income

Transform the space into a second suite. One of the benefits for a second suite is that you can rent it. You don’t have to rent it if you want, but you could list it on Air BnB from time to time instead. 

The suite has a good ROI, as basement financing doesn’t have to be expensive. 

Improved Property Value

Let’s talk about selling your home again. Buyers would be more interested in a property that has a finished basement than an unfinished one. You don’t have to transform it into an entertainment or large bed room but just make sure that it’s livable. 

The longer a house is on the market, the higher the chance of its property value going down. This is not what you want. Also, the inclusion of a finished basement would drive property value up.

There are several benefits to renovating a basement. One of the best is that you could have new bedrooms. If your house is small, and you’re planning on expanding your family, this would be great. You could also transform the space into a second suite and get rent. Just make sure you hire the right team for the work, as a less than quality job might be done otherwise.