Your home is the largest investment that you will ever make and it stands to reason that you want to maintain and even maximize the value of this investment. If you want your home to increase in value then making improvements will get the job done. Let’s look at how the value of a home increases with a finished basement.
Increase the Amount of Living Space
Even homeowners who aren’t looking at selling their home or maximum returns opt to finish their basements because it increases the amount of living space they have. If you have an average 2,500 square foot home then finishing the basement can add up to 2,000 square feet of usable space. Finishing all or even half of your basement increases the living space and thus the value of your home.
Increase the Number of Beds and Baths
The more bedrooms and bathrooms you have the more your home is worth, 3 bedroom homes are worth more than 2 and so on. More beds and baths can accommodate larger families and bedrooms can always be converted to office space. If you have enough space and you have to budget to do so then at the very least add a bathroom. If you can add a bedroom too that is even better, make sure the bedroom has a closet, otherwise it is just a room.
Add Some Rental Property
If you have enough space then you can convert your basement into a rental property. Having a 1,000 square feet is more than enough to build a one or even two bedroom apartment. Separate entrances make it a viable rental unit, otherwise it is just an in-law suite. While an in-law suite adds value it isn’t the same as a separate unit. This not only increases the value of the property but it adds cash flow every month.
Even if you don’t plan on selling your home in the near future it is still in your best interest to do what you can to increase the value of your home. It makes things like renegotiating your mortgage or getting home equity loans that much easier. Finishing the basement offers you one of the best returns for your renovation dollars. Not only does it improve your home you have additional space to accommodate your family. Imagine having an extra bathroom, no more fighting over who gets in the shower first in the morning. Speak with an Altanta Basement Contractor at basement finishing Atlanta to see what your options are.