Benefits of a Basement Renovation
The price of a basement renovation can offer more value per square footage than most other home renovations. Whether you’re upgrading an outdated basement or finishing a basement for the first time, a basement renovation is a smart investment. Parabola Developments in Edmonton shares the benefits:
Additional Living Space
You can nearly double your home’s live-able square footage for far less money than a major home addition project. What you choose to use that space for is up to you! You can add more bedrooms for a growing family, a home theatre, rec room, a second bathroom, a playroom for the kids, home office as well as additional storage spaces. Parabola Developments will work with you to create a basement design that best meets your needs.
Increased Property Value
A finished basement will improve the resale value of your home. Not only is that additional living and storage space attractive for home buyers, it will actually increase your home’s selling price. Plus, a basement renovation is a good investment. According to Remodelling Magazine’s Cost vs. Value Report for 2016, a midrange basement remodel will recoup 70.4 percent of it’s renovation costs. Depending on the scale of your renovation, you could see a higher return than that.
Create Additional Income
If you can afford the space, building a secondary suite in the basement can give you a steady revenue stream. Many basement suites can be rented out at 75 percent of the cost of the monthly mortgage, quickly offsetting the upfront cost of finishing the space and assisting with your everyday expenses. A secondary suite will also increase your home’s resale value.
Professional Basement Renovations
If you already have an older finished basement that is dire need of an upgrade, this job is probably best left for the pros at Parabola Developments. You don’t really know what could be lurking behind those walls. Bad framing jobs, amateur electrical messes, leaky pips and hidden mould are all things you could discover downstairs. Hiring a professional general contractor will save you a lot of stress, time and money if there is a lot of plumbing, wiring and framing work to be done. They will also make sure all the necessary building permits are in place and that licensed trades are called to handle all those skill-specific jobs.
Basement renovations are Parabola Developments’ specialty. They can help you with the design stage of your basement remodel, ensuring the renovation is complete in the most cost-effective and safest way. For example, they will know where to make any new window cut-outs making sure the walls can take the structural load. They’ll also know where the best place will be for a new bathroom or kitchen so you don’t end up running plumbing all through the house. You’ll have a basement design that increases the functionality of the space while making the actual renovation itself more efficient.
Parabola Developments will also make sure that plumbing, electrical or other mechanical systems are sealed off when your basement is remodeled. This can be a real headache down the road if trades people have to access these systems for repairs or maintenance. They’ll also inspect your basement for excess moisture, foundation cracks, leaky windows as well as any issues with drains or sump pump. Checking these things now will help prevent more expensive repairs in the future.
Parabola Developments offers full home renovation services including: basement renovations, bathroom renovations, deck building, flooring treatments, hardwood flooring installation, electrical contracting, kitchen renovations and new custom homes.