Basement Remodel: Return on Investment

arrow divider

Creating a seamless transition from the main living level of your home to the basement can be a challenge. If you are thinking about renovating your basement and finishing the space, there are so many things to consider but rest assured moving forward with a renovation is a solid investment in your home. Your basement can become a gathering space that offers so much additional living space in your home.

If your goal is to increase the square footage and have another space to entertain or send your kids to play, then a finished basement may be just the answer. Basement renovations have always been a trend but increasingly popular features include theaters, home bars, workout rooms, and even additional bedrooms and in-law suite. The great part about basement design is that it can blend with the overall design aesthetic and will expand the living spaces of the home. If you are looking to completely transform your basement, consider a walk-out basement design which includes a door and windows that give you seamless entry to the outdoors and brings plenty of natural light, giving your basement a light and bright appearance. The beauty of having access to the outdoors is you completely eliminate the feeling of being in a basement.

The selling feature of a basement remodel is that you return so much of your investment because the basic structure — walls and floors — already are in place. It’s estimated by that the average return on investment of a basement remodel is 70%. The luxury or simplicity of the design is your choice, while some prefer to keep the costs and only make basic upgrades, others see a basement remodel as an opportunity to redesign the entire space.

Basement flooring is always a design dilemma. Choosing a luxury vinyl floor may be a perfect way to carry the cohesive design from the rest of your home, while choosing carpet may be a more cost effective alternative that allows you to finish the entire space. Keeping an open layout may work well with your plans for the space, but adding walls to create some separation may be a better use of space and maximize the floorplan. If there is enough space, creating zones may be a key way to define different spaces within a large basement and not make the space feel chaotic. For example, having a casual seating area, a defined workout space with gym equipment, and a play space for children. This helps you feel better about the space because you will have peace of mind knowing that the investment you make on this renovation is truly maximized. What’s important to remember is that the design of your basement is an opportunity to increase otherwise unused space in your home, and create a multi-purpose living space that can be enjoyed by everyone.

Tip: Lookout for Moisture

Moisture is a big concern in basement remodeling. Any chronic leaks, condensation, or flooding must be fixed before you convert the space into a living area. Remedial measures cost anywhere from a few hundred dollars to thousands, effectively reducing your return on investment. But if you cut those corners, you’ll pay big time in musty smells, creeping mold, and soggy carpet. It’s important to work with a contractor to get a professional opinion and ensure that your basement is moisture-free, early intervention is key.

Author:KRB Kitchen & Bath Design Center