What is the value of a finished basement?

The basement is a unique space in your home as you can use it for just about anything. You can create a cozy family room to hang out in, a home office, fitness room, playroom, or secondary suite. If you have an unfinished basement, developing it can bring value to your lifestyle and home.

Thorstein Construction Ltd. in Edmonton is a renovation company that specializes in basement renovations. They share more about the value of a finished basement.

How much value will finishing the basement add to my home?

A finished basement will indeed add value to your lifestyle, but what about monetary value? The most recent available data shows that a finished basement has a good return on investment (ROI). A basement renovation can recover up to 70% of its cost at resale. So, for every $1,000 you spend, you can add about $700 to the value of your home.

Your basement development will include wall insulation, finished walls, ceiling and trim, new flooring, and a paint job to get that ROI. Consider adding a bathroom, in addition to a main living area.

The lasting value of a basement renovation

While the initial cost of the renovation adds value to your home, you should consider the long-term value it will add. For example, if you decide to sell your home in the future, your finished basement will make your home a real market contender. This real estate value increases because home buyers will appreciate the nearly doubled usable living space, making for a faster sale at a better price.

Lifestyle value of a basement renovation

Whether you plan to sell your home or not, finishing your basement will improve your lifestyle and enjoyment of your home. Your basement has so much potential, and you can develop it into whatever suits you best. For example, add bedrooms for guests or your growing family. Create a dedicated home office space to be more productive while working from home. Or, create the hangout space you’ve always wanted! Create a built-in entertainment centre with large screen television, surround sound, and a wet bar for entertaining.

Utilizing that square footage fully has incredible payback for lifestyle and home comfort. The professional design team at Thorstein Construction Ltd. will help you create a plan for your basement developments that best meets your needs for now and the future.

Basement Renovations in Edmonton

Thorstein Construction Ltd. offers professional construction and renovation services to Edmonton and surrounding areas. They educate their clients on the process, providing you with one of the highest levels of service and professionalism in the industry. If you’re looking for a home renovation, including basement development, their team of designers, installers, carpenters, and other trades can help.

Call for a free consultation!

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