In the current real estate market, basements are hot commodities. It has become more and more expensive to build basements in new houses, so a lot of new homes are built without them. This makes homes with basements even more valuable. Unfinished basements are great for storage and for safety in severe weather, but finished basements provide so many more benefits. The home renovation experts at Gemini Wallcovering & Renovations Inc. have narrowed down some of the top reasons that finishing your unfinished basement should be your next home-improvement project.
1. Add Value
Finishing a basement offers the best price per square foot of any remodeling project. Additions, kitchen upgrades, even small projects designed to increase space all involve higher relative costs. Families of all sizes are always looking for houses with finished basements, and many homeowners have seen as much as 150% return on investment when they sell their house.
2. Flex Space
Adding an entire floor of usable space in your home opens the doors to limitless possibilities. Most people like having their more formal living spaces upstairs and family or kids’ gathering spaces in the basement. What is the best use of extra space for your family? You could include a game room, theater room, home office, home gym, or playroom.
3. Entertaining Guests
Become the ultimate host by providing a comfortable and private space for your guests. Your finished basement could have bedrooms, a bathroom, a small kitchen, and a living room. Visitors will feel so at home when visiting with their own private living areas that they won’t ever want to leave!
4. Rental Income
Creating a basement apartment is a great way to earn extra income. Many basements rent at 75% of the cost of your monthly mortgage, quickly offsetting the upfront cost of finishing the space. This is a great option if your basement is a walk-out so that your renter can have his or her own entrance to the apartment.
For more basement finishing ideas or to get a free quote, contact Gemini Wallcovering & Renovations at (571) 501-1405. We have helped satisfied customers throughout Arlington, Fairfax, and Alexandria turn their basements into beautiful, livable spaces.