How I Came to Love Construction

Top Reasons To Finish Your Home's Basement

by Wade Black

Many homes have basements, and while an unfinished basement may be a good spot for the washer and dryer and the water heater, leaving the area unfinished is just wasting the space. If you already have the basement, hiring a contractor for a basement finish project the area can be a very wise idea. There are many reasons to consider investing in finishing your home's basement, such as:

More Living Space

One of the top reasons to finish your basement is to have more living space. Depending on the size of your basement, you can add usable living space for a family room, game room, or a play room. If the area is large enough, you can also opt to add one or more bedrooms and a bathroom. This extra living space can make a huge difference for your family, especially if your home is on the smaller side.

Add Value

Finishing a basement is considered to be one of the top home remodeling projects in regards to return on investment. The extra living space alone makes your home more valuable, and if you add a bedroom or bathroom, your home can appeal to more buyers when you decide to sell. In most cases, you can plan to recoup a large percentage of the money you spend to finish the basement. It's a win-win situation, since you will be able to enjoy the finished basement while you live in the home and then make more money when you opt to sell.

Accommodate Family Members

If you have elderly parents or other family members who will be living with you, finishing your basement is an excellent way to ensure that extended family members have their own space. Many people choose to finish there basement in a way that essentially creates a small apartment, with a bedroom, bathroom, living space, and small kitchenette. This makes it easy for multi-generational families to live with each other without the drama of living together in a more confined space. 

Source of Income

It is not uncommon for homeowners to refinish their basement and create basement apartments that are then rented out to tenants. In desirable areas, basement apartments can command a high rent amount, so they can add a valuable source of income. If you are interested in finishing your basement and converting it to an apartment, make sure that you understand all of the rules and regulations and get the proper permitting.