When it comes to finishing a basement, a common question is ‘why?’. Many homeowners may want a basement remodel for a variety of reasons. From desiring a new basement family room to wanting more space in your home, there is no limit to reasons for renovating a basement. Whether you are thinking about installing a basement wet bar or want to increase the ROI on your home, keep reading to find out some of the top reasons to remodel your basement.
1. Financial benefits
One of the more common reasons for renovating or finishing a basement is the immense financial benefits. Although adding a basement wet bar might not seem like a money saver at first, a finished basement can vastly increase the value of your home. Your ROI will vary depending on your area and the size of your basement but could be up to 80%. The financial benefits of finishing a basement are so popular that the ever-growing home remodeling market is worth about $450 billion right now. Additionally, a finished basement may allow you to rent out your basement and earn even more money.
2. Increased space
Another benefit of remodeling or finishing your basement is the increase in liveable space you will get. Not only will a basement wet bar or home theatre look nice, but they can function as extra space in your home. If you need extra space in your home, consider having a basement renovation instead of looking for a new house. Not only will this save time and money, but it will be much cheaper too. The best part is that you can use the space for whatever you want, from a gaming area to an art studio to a home office.
3. Improved home health
One of the more surprising benefits of having a basement renovation is a possible increase in the longevity and overall health of your home. The leaks, dampness, and coldness regularly found in unfinished basements can cause a number of issues related to the livability of your home. Instead of exposing yourself to potential issues down the line, it may be the best option to finish your basement. Finishing a basement can help make conditions safer by upgrading to waterproof and more insulating materials. Making proper upgrades and renovations to your basement can help your home stay healthy and maintain a safe and comfortable living environment.
Overall, there are many different reasons why someone may opt to undergo a basement finishing. From the financial benefits associated with a finished basement to the increased room, you will have for things like basement wet bars and fireplaces, to the improved conditions and livability of your home, finishing or remodeling a basement can always have benefits. No matter what your specific needs and goals are, consider what you might want out of a basement renovation.