Does your home have a basement? If you own a home with an unfinished basement, you have a prime opportunity to add significant value to your home. In fact, some states will allow you to count a finished basement's square footage as part of the house, thereby additionally increasing your home's value. Here are a few other incentives for you to start what may be the most lucrative home remodeling project you can undertake as a homeowner.
Freedom - Not only does finishing your basement add value to your home, it also gives you an opportunity to create an entirely new floor plan from scratch. You can make a new family den, a couple of small rooms for storage, study, or playtime, or you can construct a fully functioning extra level of your home, complete with a bathroom. The possibilities are endless.
Income - Creating a fully functioning basement level that can be rented out to tenants is an exciting way to independently earn some income from your hard work. While some may be turned off to the idea of renting space in their home to strangers, finishing the basement with an extra bathroom is still a lucrative endeavor if you ever plan on selling your home.
Utility Savings - When properly insulated, basements will tend to be the coolest level in the summer, and the warmest level in the winter. Many families benefit from turning their basement into a den for this reason.
Space - Many people use their basements for storage, but most don't utilize the space as efficiently as they could. Even a partially finished basement can provide you with proper storage capabilities that you wouldn't be able to utilize as effectively in an unfinished basement. For tips and floor plan ideas, visit