Are basement renovations worth the investment?

More homeowners are choosing to renovate their homes instead of moving. One of the biggest renovations you can do to improve your home is a basement renovation. You can nearly double your home’s living space and add to the value of your home. A smart basement renovation is worth the investment.

Craved Renovations in Winnipeg shares why:

There is value in an improved home life.

If you find your main living spaces are feeling cramped, take advantage of the space you have downstairs. An unfinished basement is great for storage, but not a comfortable place for your family to spend time in. Expand your living space and utilize the square footage that is right downstairs. A basement renovation can create a family room, additional bedrooms, bathrooms and storage. Instead of moving, make the most of the space you already have.

Increase your home’s resale value.

A basement remodel can increase your home’s resale value in two ways. First, it has a good return on investment and can recoup about 70% of it’s cost at resale. So, if you spend $30,000 on a basement renovation, you can add about $21,000 to the price value of your home. This return on investment is good compared to many other interior home renovations.

Secondly, a modern finished basement will make your home more competitive on the market. A remodeled basement is attractive to buyers, which will make your home easier to sell. Attract qualified buyers and get the price you want for your house with this valuable home improvement.

You can use the basement to earn income.

If you don’t need the extra space, consider renovating the basement into a legal secondary suite. A newly renovated basement suite will attract quality tenants and you’ll earn additional rental income. Many new homeowners use a secondary suite to help cover the mortgage and pay for other living expenses. Homes with legal secondary suites also compete well on the real estate market, which will make selling easier and more profitable when the time comes.

You can declutter living spaces with basement storage rooms.

If you need smart storage solutions in your home, a basement renovation can give you that. Craved Renovations will include ample storage spaces in your basement renovation design. Having proper storage for the things you don’t use every day will help declutter your regular living areas. You won’t have to spend money on renting a storage unit and will have your things organized and easily accessible when you need them.

Basement Renovations in Winnipeg

Craved Renovations in Winnipeg is a team of professional general contractors who specialize in interior and exterior residential home renovations. They will renovate your home to be modern, aesthetically pleasing and functional. If you’re ready to invest in a basement renovation, or another home renovation, you can trust that they’ll do the job professionally and at a reasonable price.

Contact Craved Renovations today!

 

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