In the past, the basement was one of the least used parts of the house because it was only used for utilities and storage. Today, more and more people are adding basements to their homes.
Adding value to your home is just one of the many great benefits of renovating your basement. Read on to find out more about what basement renovations can do for your home.
Provides Extra Space
A basement renovations project is one approach to increase the comfort, peace and quiet of living areas. Additional common applications include:
- Home Office
- Family/Recreation Room
- Hobby Room
- Home Gym
- Dining Room
- Home Bar
Regardless of how you use more space in your home, a completed basement can be beneficial. Its value is limited only by your creativity.
Prevents Water Damage
The majority of water damage occurs in unfinished basements and costs homeowners thousands of dollars annually. Most basement renovations entail waterproofing the outside walls plus addressing any plumbing concerns. Renovating your basement can prevent any water leaking concerns.
Limitless Decorating Options
You can transform your basement into a room representing your individuality by choosing paint colours and styles you wouldn’t choose for another living area. You can also convert it into a hobby area where you can exhibit your talent.
Increases Your Home’s Energy Efficiency
A completed basement can increase the energy efficiency of a property. Often, an unfinished basement with inadequate insulation enables air to escape.
The increased insulation and drywall in a completed basement assist with maintaining a stable temperature and minimize the energy required to heat and cool the house. If you suffer from high energy costs (or wish to reduce your carbon footprint), completing the basement of your house can help.
Increases Your Home’s Value
Adding value to your home is one of the best reasons to finish your basement. Some reports indicate that a finished basement can give you an average return on investment of 70%. Of course, other things will affect the value too, such as the real estate market in your area.
If you finish your basement, you should be able to sell your home for more than if it was unfinished. This can be especially appealing if you think you’ll be selling in the near future.
Having a renovated basement can help you with generating more revenue. If you convert this space into a second bedroom with a complete bathroom and kitchenette, you can rent out the area to tenants or short-term renters.
Work With a Trustworthy Contractor: NYCO Renovations
For your basement renovations project, hire a reputable contractor like NYCO Renovations. Every step of the way, our team is here to help you.
Your NYCO Renovations team treats your home renovations with the same care and attention to detail as if it were a custom home build.