If you’re thinking about finishing your basement, it’s important to determine whether it’s a good investment or not. When it comes to home renovations, you want to see a return on your investment that will increase your home’s value upon resell.
The return of investment on a basement is typically 70%. This is one of the highest returns among home renovation projects, with major kitchen and bathroom remodels following behind at 65%.
When it comes to interior home remodeling, renovating your basement will stretch your return dollar. Let’s explore a few important details.
Types of Basements
There are several types of basements, each with its own value. A professional home contractor can help you assess your home to determine which type of basement is best suited for your home. Here are a few options:
- Walk-Out Basement – This is the most desirable type of basement and allows for full size windows and doors. The windows provide plenty of light so that the space feels less like a basement and more like an extension of your house. With a door leading to the outside, you’ll have another exit from the home. This comes in handy if there is a patio off the basement or if the space is being used for an office or rental property.
- Garden Level Basement – While full size windows are still an option with this type of basement, you might not be able to have a full size door leading to the outside. It all depends on the grade of the land. A residential contractor can let you know what size door will best fit this space.
- Closed In Basement – This basement will have standard walls with small basement windows. There will be no doors leading to the outside. While this is the least desirable of the three types of basements, some creative lighting and design choices can easily ensure a return on your investment.
There are many ways to creatively use basement space in order to see a return on your investment. Just remember that what some people consider important features will not be as important for others. If you need suggestions regarding what is best for your space, a home remodeling company can assist you. Here are some basic options:
- Man Cave – When you ask the man of the house what is at the top of his list in a home, he’ll probably say a man cave. Whether it’s for gaming, sports, or just to relax, this room will be a great hang out.
- In–Law or Teen Suite – Whether you have a parent who is visiting or living with you, or a teen who is finding their way in life, it’s nice to separate them from the rest of the family and give them a little breathing room, maybe even with an en suite or a walk in closet.
- Home Theater – What a great way to spend some quality time with the family. You don’t need to leave the home to have fun or spend a lot of money to get the family together.
- Home Gym – Stop commuting to the gym and save on membership fees. You can get healthy and stay fit in the comfort in your own home.
- Play Room – A playroom is a great place for your children and their friends to hang out. If your children are younger, this gives you a place for all of their toys and miscellaneous gear.
- Additional Bedroom – Give your family and friends a place to stay when they visit. Plus, when it comes time to resell, you can market your home with an extra bedroom.
If you’re in the Nashville, Tennessee area and are looking for a renovation and remodeling company to help you with your basement remodeling needs, contact Vesta Homes, LLC today. We work with a hand selected team of vendors, subcontractors, architects, and designers that come together to provide an elite product. If you’re thinking about finishing your basement, please give us a call!