Transforming an unfinished basement into a livable space is one of the most effective ways to increase your home’s value.
Although unfinished square footage typically doesn’t factor into assessed value, adding bedrooms, bathrooms, recreation areas, and other living spaces to your lower level can substantially boost your home’s value and appeal.
If you have an unfinished or unusable basement, consider the value and benefits you receive when you complete your basement. While the return on investment (ROI) you can expect to see on finishing or remodeling your basement may depend on where you live, it is one of the top ways to increase your home’s value.
Most homebuyers want to see an open floor plan. But they also desire more spaces with purpose.
Here are the top ways to add significant value to your home when finishing your basement.
Add Extra Bedrooms
Transforming your unused basement into bedrooms adds significant value. Finishing your basement allows you to add major square footage and makes space for one or two additional bedrooms. It provides flexibility to accommodate visitors, adult children moving back home, or multi-generational living without overcrowding your home.
Include an Additional Bathroom
Along with supplementary bedrooms, taking advantage of finishing your basement to include a full or half bath also boosts your home’s value. Upgrading from a single-bathroom home to 2+ baths makes your property far more attractive to prospective buyers. More bathrooms also mean less waiting and morning rush for larger households.
Turn Your Basement into an Apartment Unit
If zoning allows, finishing a basement may include turning it into an additional dwelling unit with a private entrance. Generating rental income with an extra apartment can help offset home mortgages. It could also provide income potential if you move out of the main home and into the basement unit. Where regulations permit, a second home on your property unlocks many income possibilities.
Create Rec Rooms, Hobby Zones, and Guest Retreats
Potential buyers love finished basements because it takes the guesswork of figuring out what to do with the additional square footage.
You can capitalize on unused space to add:
Finished basements add flexible spaces for homeowners to enjoy now and appeal to buyers later.
You’re probably wondering whether finishing a basement is worth it.
On average, you can expect to recapture 70-75% of your renovation investment through increased home value when finishing a Northern Virginia basement. For example, for every $10,000 you spend on the remodel, you can anticipate gaining approximately $7,000 in property value.
And let’s not forget to consider the value of enjoying a fully functioning finished basement while you still live there!
With smart planning and an experienced team of experts from Slate Design & Remodel, basement finishing projects add significant value and usable living space that appeals to home buyers and gives you more space to love your home.
Let us help you make this addition a lucrative investment that pays off when it comes time to put your home on the market.