Does a Finished Basement Add Home Value?

You might be wondering if a finished basement is worth the initial cost. “Will it boost my home’s value when it’s time to sell?” “Is it worth the time and expense?” The answer is generally, yes, basement remodeling provides a strong return on investment for homeowners.

Let’s look at everything to take into consideration before you move forward with this project.

Factors to think about

Whether it’s the right time to invest in a finished basement depends on a lot of things. Let’s say you really want a playroom for the kids, and you don’t plan on moving for a long time. Then it’s a great idea to go ahead with the project. You’ll make back, on average, 70 percent of what you invested in the basement—plus, you’ll get to enjoy it for years to come.

But if you’re planning on selling very soon, then a basement remodel might not be the best project for you. It’s ideally suited for homeowners who plan to enjoy it for a while before they put their home on the market. Just like with other significant home renovations, you may not make back all the money you put into it.

On the other hand, with the red-hot real estate market, you should look into how much these kinds of renovations are boosting prices in your area. It’s possible that any well-done renovation could be worth it if the market is competitive enough.

Which finished basement is right for you?

If you do want to go ahead with this project, then it’s time to think about which type of finished basement will work with your home. Consider the following:

  • Walk-out basement: These are often an attractive choice for homebuyers, as they allow in more natural light than other kinds of basements. This includes a full-size door that leads to the outdoors. In effect, the basement becomes more like the ground floor, allowing for more windows and natural light.
  • Standard lot basement: Here’s a traditional basement where the space is completely underground. The room includes concrete walls and doesn’t allow in much light except for a few window wells placed near the ceiling. This will be less attractive to homebuyers due to the lack of natural light.
  • Garden-level lot basement: This strikes a happy medium between walk-out and standard basements. A garden-level lot basement is partly above ground and partly below ground on a sloped lot. It may include a combination of full-size and small window wells, resulting in some nice natural light. However, it’s not likely to include a full-size back door that leads to a backyard or patio.

When you’re looking for basement remodeling, trust the experts at Joe Myers Construction Inc. Our dedicated team specializes in complete renovations and improvements, including for additions, bathrooms, kitchens, outdoor living spaces and much more. Our top priority is your satisfaction, meaning we’re here to complete the job to your exact specifications. Get in touch with us today to learn more and set up an appointment!