By: Jennifer Feke
6 Clever Ways to Increase The Value of Your Basement
Tags: Basement, Increase Value, Increase Home Value
You might not have thought about it before, but renovating your basement can significantly increase the value of your property. By renovating your basement and transforming it into something functional, you are creating an additional living space that people can make use of.
If you’re thinking that fixing up your basement will only waste your time and money, think again. Studies show that basement renovations regain about 70% of their costs at the time of resale.
Here are some awesome transformations that you can do to increase the value of your basement:
Your basement is a perfect space where the grown-ups can hang out. You can easily set it up by including a bar counter, stools, and your favorite booze. You can also add a cozy sofa to make the guests feel comfortable. And a big TV screen so you can watch your favorite movie while drinking. Whatever you feel like including. You have the freedom to customize the space depending on what you love to do with your friends.
Another way to upgrade your basement is by turning it into a game room. What’s more exciting than a home arcade? Set it up with your favorite arcade games, or maybe a PlayStation. How about some board games for bonding with the whole family? No need to go out of the house for some recreation. Perfect during this time when we are advised to stay at home.
Take this extra room as an opportunity to build your own personal gym! Your main expenses will only be the gym equipment. You can actually save more money in the long run as you wouldn’t need to pay for your gym membership. Plus, it’s a safer option during this time. But since this is the basement and there is limited air flow inside, you might need to do some renovations to improve the ventilation.
If you think about it, the basement is the perfect place to have a home theater. It’s cool, it’s dark, and you have enough space to mount a television or projector, and some comfortable reclining chairs. Home Theatres are on trend and a great way to bring family together!
By renovating your basement, you can even create additional bedrooms. You can easily transform your basement into a bedroom by adding a bed and a closet. Trust me, you’re going to have a blast decorating and filling up your basement with furniture!
The only problem you might encounter in creating a bedroom is adding a form of egress or a way to exit the property in case of emergencies. Depending on how your basement is structured, it might take some effort to create a window that is big enough to escape to in case of emergencies.
Which transformation did you like?
With all these ideas, I hope you find more value in your basement. The most neglected area in your home can actually be transformed into something beneficial and might actually improve your home. Renovating your basement might cost you some money but think of it as an investment. When you create an additional living space in your home, your house will increase its value upon resale.
Don’t limit yourself with this list. Be creative and think of ways on how you can maximize the area in your basement.