If you are debating whether or not to finish your basement, you have come to the right place. Finishing your basement is big project that requires a lot of time and money, but can be very worth it in the end. In fact, if done correctly, a finished basement can significantly increase your property value. Here are four ways a finished basement can add value to your home.
Finishing your basement can lead to some great return rates when it is time to sell your home. A lot of people do not want to take on the hassle of finishing a basement themselves so they will pay more for one that is already finished for them. On average, in the U.S, a finished basement can give you a return of 70-75% of what you put into it. That means if you spend $10,000 on remodeling, your property value increases by about $7000.
If you aren’t planning on selling your home anytime soon, a finished basement can give you an opportunity to make some extra money while you are still living there. As long as your basement meets the zoning and fire code requirements in your area, you can rent it out to other people and help with your mortgage payments. If you do plan on selling the home, having a rental unit will appeal to buyers who want to save money on their future mortgage payments.
The possibilities are endless when it comes to finishing your basement. One option is to add an extra bedroom to the basement which increases the amount of living space and people that can live comfortably in the home. Upgrading to three bedrooms instead of two can make the difference between someone buying your home and looking elsewhere. This allows larger families to be able to look at your home and also adds property value because the more bedrooms, the more you can charge for your home.
More Living Space
If your property has some zoning restrictions, you may not be allowed to add onto the home. Instead, a finished basement gives you the opportunity to add more living space without having to build extra rooms. You can put an entertainment space in the basement, a relaxing lounge area, and more! Having this extra living space is attractive to potential buyers and increases the value of your home.
Contact Blair Construction Today to Begin Finishing Your Basement!
For a beautiful finished basement built by professionals you can trust, contact Blair Construction. We have been serving our valued Maryland customers for almost thirty years and look forward to giving your home the care it needs for years to come. Contact us online or give us a call at (410) 729-0777 to get a free in-home estimate. To see examples of our work and get updates on what we are up to, follow us on Facebook, Twitter, Pinterest, Google+,LinkedIn, YouTube, and Houzz.