It’s no secret that finishing your basement can give you some serious advantages as a homeowner. Not only does finishing your basement cost 80% less than buying a larger house but it also gives you a 77.6% return on investment that can seriously come in handy when your home goes back on the market.
With the help of an experienced basement remodeling company, you can turn your basement into a major usable living space for your property that can give you a lot of added value. Here are some of the key ways finishing your basement can help to boost the property value of your home when the time comes to sell your house.
Get around zoning codes
When your home is too small and you’re looking to add onto your property, zoning codes can be a real pain in the neck. Zoning restrictions may keep you from adding certain additions to your property because they can bring your home too close to your neighbors’ property. If your home is already two stories tall, too, you may not be able to expand upwards. This can be frustrating if your home feels cramped despite the second story. This is where finished basements come in handy. Finishing your basement allows you to expand your usable living space without interfering with zoning restrictions.
Make your home an income property
If you’re looking to earn a little extra income on top of adding value to your home, you can turn your finished basement into an investment property with the help of a professional basement remodeling company. Finishing a basement and turning it into a rental unit (approved by your local zoning department, of course) gives you the ability to make several hundred dollars a month. You just need to be sure to conform to local fire codes. If renting out your finished basement isn’t for you, you can still convert your finished basement into an apartment for your in-laws to save on assisted living expenses later on. If you and your family move, the basement apartment provides potential buyers with multiple opportunities.
Adds recreation and storage space
The last thing anyone wants is to store their belongings in a damp and dark basement covered in spiderwebs. Finishing your basement is a great way to give your home some additional storage space that clean and dry. What’s more, you can use the space as a recreational area like a home gym, kids play area, teen retreat, or guest bedroom. Because finishing a basement adds to the usable space in your home, it’ll be an unexpected but pleasant surprise for potential buyers later on when the time comes to sell.
Ready to upgrade your basement? ElkStone Homes is the basement remodeling company you need to take your basement remodeling design to the next level. Whether you’re looking to install a new fireplace for the ultimate family room or you’re looking to install a wet bar for a great entertaining space, we have the design experience you need. For more information about our basement remodeling services, contact ElkStone Homes today.
It’s no secret that homeowners love to remodel and improve their homes. In 2017 alone, Americans spent almost $14 billion on home improvements. However, basement renovations aren’t often the first idea that pops into people’s minds when they think about remodeling their homes. This is typically because there are several myths surrounding basement renovations that just aren’t true.
To help put the record straight, here are some of the most common myths about finishing your basement:
- It’s not worth remodeling a basement because of the flood risk. It’s not uncommon for basements to flood, especially during big rains or rapid snowmelts. However, basement flooding and leaks can be easily avoided with proper waterproofing. By installing a waterproofing system for your entire basement before remodeling, you won’t have to worry about flood risk when you finish your basement.
- Basement remodeling doesn’t require work permits. Your basement may be in the lowest level of your home and away from curious eyes, but that doesn’t mean you don’t need any work permits. A city or county inspector may stop by to check and see if you have a permit if they find out that there’s work being done in your home. If you don’t have a permit, the work that’s being done may need to be demolished and redone later. That said, make sure that you get the proper permits for your basement remodel before you get started.
- Finished basements are too dark to be enjoyed. You may not have the biggest windows in your basement, but that doesn’t mean your finished basement will be dark and spooky. With the proper recessed lighting and wall color, you can easily make your finished basement light and cheery. You can also get rid of the scary ambiance many unfinished basements have by making your basement feel like it’s a part of the rest of your house including using similar furniture styles and flooring as the floors upstairs.
- There isn’t a lot of value in finishing a basement. A finished basement has a resale value of up to 77.6% because you can use it for a wide array of things including an entertainment space, family room, and even a rental.
Do you need a professional basement finishing company to give you the finished basement of your dreams? ElkStone Homes is the basement finishing company for you. To learn more about our basement renovation services and upgrades, contact ElkStone Homes today.
Finishing a basement and turning it into a rental apartment can be a great way to earn extra money. In fact, basements are often rented out at anywhere between 50% to 75% of the monthly mortgage cost. But in order for you to find a renter who wants to move in, you need to make sure your basement apartment is somewhere renters actually want to live.
Tenants aren’t exactly head-over-heels for dark and dreary apartments. That being said, how can you turn your basement apartment into a bright and cheery space where renters want to put down their roots? Here are a few key ways a basement remodel can turn your basement into a warm and welcoming apartment.
Lighting is everything
Basement windows, if your basement has them, are typically smaller than regular first-floor windows. This can make your basement look cold and dark even when there’s some natural sunlight peaking in.
The best way to counteract this effect during a basement renovation is by installing overhead, recessed lighting. By installing overhead lighting throughout the space, you’re instantly creating a warm and welcoming environment that feels bright and airy.
Opt for bright cabinets and appliances
During your basement renovation, you’ll be installing kitchen cabinets, countertops, and appliances for your future renters. When you’re choosing the materials and colors for these features, it’s recommended to steer away from dark colors.
Dark colors are likely to make the space feel small, cramped, and unfriendly. Of course, if you’re looking to draw the eye up, you can play with contrast and choose darker lower cabinets and brighter upper cabinets. Including light-reflective surfaces throughout the kitchen is also a great way to make the space feel brighter.
Use natural textures and neutral colors
When choosing a color for your basement’s walls, it’s recommended to choose a neutral color such as white or a soft gray. Avoid choosing a cream color, which can make the walls look aged and yellowed.
Adding natural textures around the space can also make the space feel warmer. Consider installing hardwood floors or laminate wood flooring to create an instantly cozy aesthetic.
Get started renovating
Looking for an experienced basement remodeling company? ElkStone Homes offers basement renovation services whether you’re looking to turn your basement into an apartment, a family room, or a wet bar. To learn more about our basement renovation services, contact ElkStone Homes today.
Finishing your basement is one of the best investment decisions you can make. The current average cost for a basic basement renovation is approximately $35 per square foot with an average return on investment of 77.6%.
Once a professional basement finishing company turns your basement from scary to chic, you have a whole new living area the size of your first floor ready to be used for anything including a brand new family room.
Why turn your finished basement into a family room?
The family room is central to every home. It’s the go-to area for playdates, movie nights, and games. It also creates an area where you can keep your kids’ toys and games so their playthings don’t take up the whole of their bedrooms.
Finished basements make for the perfect family rooms. They’re incredibly spacious and can be used for a wide variety of activities. You can keep your kids’ toys in one corner and set up a movie-watching area in another. What’s more, because the family room is in the basement, you don’t need to worry about cluttering your living room or other areas in the house.
What makes for a great family room?
Before you can turn your finished basement into a family room with the help of a professional basement finishing company, you first need to know what goes into a great family room in the first place. Consider your family’s personal needs: what kind of activities do you like to do together?
If your family regularly rough-houses and plays on the furniture, opt for furniture in your family room that has high-performance, stain-resistant fabrics. It might also be a good idea to install carpeted flooring rather than hardwood for a soft, kid-friendly surface.
For families who like to get cozy during their movie nights, installing a fireplace in your finished basement is another great idea. Your basement finishing company can help you figure out which types of fireplaces may work best for your home and the amount of heating you’re looking for.
Ready to get started turning your finished basement into the family room of your dreams? We’ve got you covered. Contact ElkStone Homes to learn more about our basement finishing services today.
When you finish your basement, you’re not only gifting yourself with a 77.6% ROI. You’re also maximizing the space that you already have to create a warm and welcoming area you can have fun with. Turning your space into a new wet bar is one of the best ways you can bring new life to your finished basement.