When your home is beginning to feel a little undersized, there are a couple of options to choose from. You can either move yourself, your family, and all of your possessions to an entirely new home, or you can consider building additions to your home to increase the space your have to work with. Additions are a far less expensive, and time consuming project, and they should always be considered as the first option. With that being said, if you are interested in constructing a home addition, there is an option you should consider first; finishing your basement.
Add More Space on a Budget:
While building a whole addition can be very expensive, finishing your basement is an easy way to increase the your home’s finished space without breaking your budget. When it comes to finishing your basement, you can use the space nearly any way you like, which will allow you to re-purpose other rooms around your house as well. One of the most common basement renovation ideas is creating an additional family room or entertaining space. However, whether you are interested in providing a space for your children to play, an additional bedroom for your growing family, a home office for your business, or another living room, finishing your basement is a great way to increase your home’s livable space without going over budget, and without building a whole new addition.
Increase Your Home’s Value
Another benefit of finishing your home’s basement is that it can increase your home’s property value. Whether you decide you’re going to use the space for a home office, a second living room, or another bedroom, finishing your basement and increasing your home’s livable space is one of the best ways to increase your home’s resale value. In fact, Remodeling Magazine’s annual report typically has basement remodels listed at about a 65-75% return on investment, meaning when you go to sell your home, finishing your basement will have added between 2/3rds and 3/4ths of your projects cost to your home’s value.
Improve Your Home’s Efficiency
While finishing your basement is a major investment, it can nearly pay for itself in the resale value it offers your home. However, there is actually a money-saving benefit of finishing your basement; increasing your home’s energy efficiency. After your attic, your basement is the next place a home tends to lose a considerable amount of energy from. When you finish your basement, there are two things you should do to increase your energy efficiency. The first is to check around all of the piping in your basement and ensure everything is properly sealed. If you can see any daylight or feel any cold air coming in around the pipes, seal up the cracks. Finally, you should install quality insulation in your basements walls which will vastly improve your homes energy efficiency.
Have any more questions about finishing your basement? Reach out to our team at (215) 372-0333 or by filling out our online contact form today! We look forward to helping you with all of your home addition, design, and renovations!