How Much Basement Finishing Will Increase Your Home Value?

Whether you are considering selling right now or within the next five to ten years, the decision to finish your basement is a huge one with lots of factors to consider. Two of the main factors to consider are cost and return on investment (ROI).

What is considered a “Remodeled Basement”?
Finished basements feature walls and appropriate flooring, as well as electricity and plumbing. Walls are insulated and designed to look more like the rest of the home. The floors are not concrete slabs but finiished flooring. Gone is the dark, humid space; in its place is a livable space.

The Return on Investment
You will see about a 70% return on your investment in the immediate future, but that is purely the monetary return on your investment if you are trying to sell your home. The way you make adjustments for the remaining 30% will be different in order to achieve a more luxurious look after finishing your basement.

How a Finished Basement Adds Value to Your Home
When you finish your basement, the value of your home increases immediately. This is different from renovating a room in your home above ground, which only adds about 70% of that value. The remaining return comes from the day-to-day benefits of having a finished basement.

In conclusion, if you are considering finishing your basement and have not yet done so, there are numerous benefits to doing so that will add value to both your home and lifestyle. Hiring an expert basement remodeling Glenview contractor is one of the best decisions you could make as a homeowner regardless of if or when you are intending to sell.

Leave a Reply

Your email address will not be published.