Increased value and enjoyment from an often overlooked area
According to Remodeling Magazine’s 2010-11 Cost vs. Value report, the top interior projects for resale value are a basement remodel and an attic remodel. Both add living space without extending the footprint of the house.
Finishing a basement is one of the most cost-effective remodeling projects for return on investment when homeowners sell their home in the first year. A finished basement allows you to add more finished square footage to your home at a lower cost and with less environmental impact than if you were to build a new addition.
Since finishing a basement is a complicated job, it is usually beyond the scope of most do-it-yourself homeowners. There are building code issues to consider, along with accessing electricity and plumbing, waterproofing, mildew and mold control, and insulation. Using a good design/build consultant upfront will help you achieve your goals.
Remodeling a basement can provide families with essential space for necessities such as an extra bedroom, a children’s playroom or a workout area. A remodeled basement can also make room for luxuries such as a spa-like bathroom retreat, a billiard room, a state-of-the-art home office, or a glamorous home theater, wet bar or wine cellar.
Renovations can be accomplished to fit your budget. For instance, installing a wine cellar ranges from $10,000 to $100,000, depending on the level of options desired.
A finished look is achieved by using a mixture of both natural light and alternative lighting options. As natural light is limited in a basement, and there may be issue with two paths of egress, window wells with covers or egress basement windows are a proven solution. See some examples at www.wellcraftwells.com. Quality finishes, including upscale millwork, stone, tile, and high quality wood paneling ensure a cohesiveness appearance throughout your home. There are many options to arrive at your desired environment: a gas fireplace provides warmth and cozy ambiance, while using pale colors on the walls creates a feeling of spaciousness.
Finishing your basement turns under-utilized space into an asset that will increase the selling price of your home and decrease the market time when you are ready to sell. However, the true value comes from the renewed livability and enjoyment of your home that a basement renovation can bring to you and your family.