Right now, the average cost of basic basement renovations is $35,000, or about $35 per square foot.
That may sound like a lot until you consider that remodeling your basement is one of the best ways to increase the value — not to mention comfort — of your home.
Remodeling a basement is a big investment, so before you find a basement remodeling company, read on to learn the top five benefits of basement remodeling, to decide if it’s right for you.
1. Increase Your Home’s Energy Efficiency
This isn’t often thought of by people considering basement remodeling, but it’s a very real benefit. Because the basement remodeling company will install drywall, insulation, and additional materials that keep the air inside, this proper insulation will keep out drafts and reduce the amount of warm or cold air that normally escapes from a basement. You may see a dramatic decrease in your energy bill after finishing your basement.
2. Increases Your Home’s Resale Value
Finishing a basement increases the amount of usable square footage in your home, by adding additional rooms in your once-barren basement space. Alongside the energy efficiency perk, this benefit can dramatically increase the amount of money you can get for your house, should you ever decide to sell.
3. Offers New Options for Your Home
As noted previously, hiring a basement remodeling company to finish your basement can be an attractive decision, just because it adds a few comfortable rooms downstairs. By installing an extra bathroom and furnishing a bedroom or two, you suddenly have the option to invite houseguests over more often, giving distant relatives and old friends an excuse to come visit.
Even if all you want is a quiet, cozy office to work inside of, remodeling your basement will give you that option, and many more.
4. Generates More Interest
Houses with finished basements are especially attractive to real estate agents, as well as to potential buyers. This one factor alone could dramatically increase your chances of closing the sale quickly and getting a great price. Just one or two additional rooms in the basement can be a major selling point.
5. Remodeling Your Basement is a Good Investment
Whereas some kinds of home renovations can leave you wondering if they were really worth the cost, basement remodeling is almost always very likely to get a return on your investment. Many homeowners find that, between increased savings and property value, they can make nearly all of their money back in just a few years.
Did you know that the earliest known building code was a part of the Code of Hammurabi in 1772 BC?
Since then, our building codes have only grown in number and application. For example, building codes applying to fireplaces and stoves are especially critical since these involve flames that can cause a house to catch fire if not constructed properly. That’s why it’s especially important to choose fireplace companies that know what they’re doing.
Before you start looking for fireplace companies Colorado Springs trusts, you’ll need to settle on just what kind of fireplace is right for you. Read on to learn more!
Wood Burning Fireplace
Open-faced fireplaces — like the ones you see on Christmas cards — are probably the most popular, and the best known. Between the open flames, the flying sparks, and the charred logs crackling under the flames, open fireplaces are highly romanticized.
According to some open fireplace owners, however, these beautiful centerpieces might not be worth the necessary maintenance. They can be a lot of work to light and keep burning — not to mention to clean. It’s also not unusual for traditional fireplaces to fail to burn correctly.
Perhaps the worst aspect of traditional open-faced fireplaces is that, at the end of the day, they don’t produce that much heat. Most of the heat generated by a fireplace is sucked directly up the chimney, effectively wasted in the cold air outside.
However, for their warm, distinctive appearance, open-faced fireplaces can be worth all the hassle and inefficiency they involve — but only if you’re willing to put in the time and effort.
Possibly the most wonderful thing about gas fireplaces is not their often gorgeous design, but their cleanliness. Unlike traditional stoves and fireplaces, gas fireplaces don’t involve any necessary clean up after use. Because they don’t require a chimney, one can be installed virtually anywhere.
Unlike traditional fireplaces, gas fireplaces offer “turn on, turn off” functionality, providing instant heat when you power them up. That means there’s no need to spend an hour with a stubborn fire, trying to get it to take off. Gas fireplaces are also available in automatic, thermostat-controlled versions.
The only real downside to gas fireplaces is their inauthentic appearance. Yes, the flames are very real, but for some, watching gas-fueled fire being spurted up out of fake logs is deeply unsatisfying.
Much like a toaster or refrigerator, an electric fireplace is often considered to be another appliance. Since it doesn’t factually produce flames, its lifespan is practically infinite, and it’s possibly the safest option for homeowners. It can also be moved from one room to another quite easily — all you need to operate it is an electrical outlet.
The best thing about electric fireplaces might be that there’s no need to worry about either toxic fumes or fire hazards. The only real downsides are that electric fireplaces are very expensive when you depend on them for heat during the winter and that if the power goes out, so does your fireplace.
Pellet stoves are reminiscent of a traditional fireplace because of their authentic, open flame. In this case, however, you can watch the fire safely from the other side of glass panes.
A major plus for pellet stoves is that, unlike logs and other fuels, the pellets used to fuel fires are a truly renewable energy source. Pellet stoves are also very low maintenance — you can even pour 50 pounds of pellets into some models, and leave them alone to burn for an entire 24-48 hours afterward.
Clean-burning, efficient wood pellets and removable ash pans make cleanup a breeze. Pellet stoves can also be installed just about anywhere a normal appliance can be — all you need is an exposed wall.
The one downside to pellet stoves is the pellets themselves. While firewood is usually low cost, in pellet form, fueling the fire can be fairly expensive. Massive bags of pellets can also be a pain to move and store.
Good fireplace companies can add an entirely new feel to a home, just by installing a beautiful, warming fireplace. Connect with fireplace companies now to learn even more about your options for installing a fireplace in your home.
We get it: basements can be a tricky spot to figure out. If not done right they can feel like a remote, disconnected piece of the house. With the help of Elkstone Basements, you can take this room and turn it into an essential component of the house. Whether you want a space for kids to play, guests to stay, or adults to getaway, you can easily achieve the basement of your dreams — and while you’re at it, you can increase the value of your home for a return on investment of up to ~70%. If you need some ideas before you remodel, consider these basement family rooms and other options.
- Create a spare bedroom
There is nothing better than having the ability to comfortably host guests. Sure, when close friends and family come stay at your home, they are often willing to sleep anywhere. But while anyone can tolerate a night on a couch or an air mattress, there is nothing that can match the comfort of an actual bedroom. With Elkstone Basements, you can convert an under-utilized basement into an entire extra bedroom. To maximize your hosting capacity even more at the expense of a bit of comfort, use bunkbeds.
- Make a second living room
There is a reason Elkstone Basements is known for its basement family rooms. Sometimes what a house needs is simply another room geared toward spending quality family time. Add some cozy carpeting, nice couches, and a fireplace, and boom — you have the perfect room to spend a winter evening watching a movie with the kids.
- Keep it classy with a wine cellar
If a wet bar isn’t your speed, consider going with an option more geared toward the storage of alcohol rather than the imbibing of it. With a wine cellar, you can hold on to those good bottles as long as you want without worrying of light exposure, improper ambient air temperature, or somehow misplacing your favorite Pinot Noir.
Whether you are looking into building basement family rooms, bedrooms, bars, cellars, or something else entirely, make sure you get the right company to help achieve your vision. Give Elkstone Basements a call today!
Whether you want extra cash to pay the bills or you simply have more space than you need, renting out your basement is a decision worth pursuing. However, if you want to rent your basement for a good price, you will want to make sure that it’s a basement worth renting.
You can’t just install a few panels of drywall and call it a day. If it’s not already fully finished, you might want to consider working with a basement remodeling company. They can help you to turn the space into an area that people will be excited to rent out.
There are a number of things that go into creating a rent-worthy space. Not only does it need to be fully functional, but it also needs to be comfortable. There are a variety of things you can add or touch up to make your basement a great place for future tenants. Here are some of the top ways you can create a basement worth renting:
1. Add Any Needed Spaces
If you’re going to rent out your basement, it should work as a fully functional apartment space. This means that you might need to add some areas that aren’t already included. While a bedroom is to be expected, you will also need a bathroom and kitchen to ensure comfortable living. Installing a basement wet bar and kitchenette is a great way to create a kitchen space with limited room. You’re more likely to be able to rent the space if it has everything someone would need to live in it without having to encroach on your area of the home. Talk to your basement remodeling company to get a better idea of what features are necessary in a small apartment.
2. Consider a Fireplace
A fireplace in a basement might not be the first thing you think of when you start planning renovations. However, it’s a great selling point for potential tenants. Adding a fireplace can increase the value of the apartment space and even allow you to charge a little more for rent if you want to. It can make a living room seem more luxurious and more cozy at the same time. This feature is vital in a space that might get chillier than the rest of your home.
3. Keep It Updated
Another good tip is to update your space. If you own a fully furnished basement apartment, but it’s still cluttered with 90s wood paneling and shag rugs, some serious changes need to be made. After all, a modern apartment that is clean and well functioning will be easier to rent out. With a modern basement wet bar it will be even more appealing. Don’t be afraid to go for a look that will wow potential tenants. Basements tend to rent for 50% to 70% of the monthly mortgage payment if they are zoned for multiple tenants, so it will be well worth the investment over time.
When renovating your basement for potential renters, it helps to ask yourself what you would like in a living space. What kinds of things would really make you want to say yes to signing that lease? Would a basement wet bar or fireplace seal the deal? Maybe all new carpets and paint would speak to you? Whatever you choose to do, just be sure that each renovation is a true improvement and that the space includes everything your tenants will need. Ensure you get the best guidance by contacting ElkStone today.
Homes in America have doubled in size since the 1950s, nearing almost 2,500 square feet on average. Perhaps you want to join those numbers and increase the usable square footage of your home. One great way to do so is through basement remodeling. It gives you the chance to add a new room or rooms to your home without actually expanding on the outward size. You could turn the space into just about anything, but here are some suggestions on how to make your basement truly jaw-dropping.
1. Add a Wet Bar
One great way to transform your basement into a fun and exciting place is the help of a wet bar. You can add a built-in wine cooler, add some colorful bar stools, and create a space for you and your friends or family to relax. Having your very own bar in your basement is great for social gatherings, holidays, and just enjoying a night in with your significant other. It’s also a fun way to surprise company.
2. Consider a Fireplace
Adding a fireplace to your basement can add some serious class to the space. You could have a sitting area built with all of your favorite furniture and a nice fireplace to sit by. This is a great choice if you want a cozy space to relax and read a book, or to sit and chat with company. You can even roast some marshmallows and watch a movie for a fun family night.
3. Create a Family Room
Perhaps you’re big on spending quality time with your family. You could create a basement family room that is dedicated to that purpose. You could add a movie area, a space to play board games and even a small kitchen for preparing snacks. Whatever it is that your family loves to do, you can keep it in mind when you’re planning your basement remodel.
4. Install a Sauna
Another great basement remodeling option is to add a sauna. You can create a spa space in your own home so that you always have a safe and nearby place to relax. Imagine being able to have a mini spa treatment in your own basement.
5. Include a Reading Nook
If you love to read or have kids that enjoy it, you could consider adding a reading nook to your remodeling plans. You could have a cozy space built in that is designed to support soothing hanging lights and includes bookshelves in the walls. Leave some room for cushions or a small air mattress to get cozy on, and you’re all set.
Remodeling your basement can be a ton of fun. There are endless possibilities and it simply depends on what you want to use the space for. You could even turn it into an art studio or a wood shop. The best thing to do is have a good time with it and work to create a space that you know you will use and love.