Let’s face the facts: not many people want to finish their basement because of the time, money, and effort that it takes to develop. It’s a lot of work! You might already be using your unfinished basement space for storage but the idea of taking it on yourself to undergo a renovation project seems daunting. You might not be aware of all the advantages basement development can provide to homeowners. We have compiled a list of five of the most beneficial advantages to basement development to encourage you to finally finish your basement so that it has more use than simply collecting dust.
1. You have more room for guests
A finished basement means more room to use. The versatility of a finished basement is endless, but one of the more common additions homeowners like to add to their developed basements are guest rooms. Guest rooms have a range of uses: you will always have a place for relatives to stay or if an elderly parent needs extra care, and you can use these spaces to rent out through platforms like Airbnb.
For additional privacy, you may include an entryway on the lower floor of your home, if possible. This can allow for your guests to go in and out of your home whenever they need. Your basement may even be developed further to include various functional amenities, such as bathrooms, or small kitchen areas. Really, the options are endless – it’s up to you!
2. Your home’s value may increase
Having extra square footage means your home’s value will be that much more increased. Moreover, the additional space can make your home easier to sell – if that’s what you’re looking to do in the next little while. Even if you don’t include any additional facilities with your developed basement, potential buyers can see the promise in the extra space for their own dream-home fantasies.
Different locations may prioritize different amenities or facilities. For example, if you were looking into basement development in Calgary, you might want to get in touch with a real estate agent in the local area and ask them what buyers are looking for. This can help you adjust your development project plans accordingly to match the interests of local buyers.
3. The freedom to alter your home
Developing your basement might increase the enjoyment of your home based on what it is you choose to do with the finished space. Have you always wanted to include a home theater? What about your own man cave for you and your friends to hang out in? If you have children, you might want to use this space as a fun entertainment spot for your children to play. There are so many different things you can do with your finished basement!
Inclusions like home gyms and personal theaters may even reduce future costs. You probably won’t need that gym membership anymore and going to the theatre won’t involve having to pay for all those costly snacks you could get for cheap at home.
4. Easier to sell
If your plans do involve moving out of your home in the near future then you will be glad to know that a finished basement can make your property easier to sell. Not only does it appeal to potential buyers, but it adds a certain appeal to your home that couldn’t be achieved with a basement that is solely being used to stow away boxes.
Buyers may see potential in finished spaces or be attracted to certain features. Home offices, basement gyms, man caves, and other various fun inclusions may make a home more attractive to buyers and increase the likelihood of a sale.
5. A finished basement may reduce utility bills
This may sound like fake news, but it’s true: a finished basement may help to reduce your overall utility bills. By finishing your basement you increase the insulation in your walls to ensure there are no leaks or excess moisture. Also, you may be spending more time in your basement in the hotter months as it is a naturally cooler space. This way, you can save on your energy costs by not using your air conditioning as much. It’s a win-win!
Overall, undergoing a basement development project – while a considerable task – will allow you to reap so many benefits from the finished space. As arduous a renovation as it might seem, it will be worth it in the end for you, your family, and your potential buyers.