Is your basement nothing more than concrete block walls, exposed plumbing, dust, and several boxes of Christmas decorations? Don’t think of your basement as a place you only want to visit during a tornado warning. Think of it as buried treasure! With a few strategically placed construction materials, your basement can become any living space you desire.
A finished basement doesn’t offer the greatest view of the outdoors, but it has several benefits all the same. Here are five reasons to finish your basement this year!
1. A Finished Basement Adds Living Space
If you live in the Midwest, you already know the weather keeps you indoors more than you would like. Having lots of indoor space to move around in didn’t help the Torrance family in The Shining, but you are bound to appreciate a downstairs home theater, bar, gym or game room whenever a blizzard locks you in. And we’re sure you can imagine how effectively a children’s playroom contains all the large, noisy, garish toys children like to play with.
2. A Finished Basement Increases a Home’s Market Value
A finished basement is a desirable feature to many prospective homebuyers, largely for the other reasons mentioned in this article. They will pay more for additional living space!
To be sure, you will not increase your home’s value by the amount of money you spend finishing its basement. In the Midwest, a basement remodel represents about a 53.3% return on investment (partly because below-grade square footage doesn’t appraise as highly as above-grade). That means if you invest $10,000 into finishing your basement, you can reasonably expect to make half that money back should you decide to sell your house.
3. A Finished Basement Promotes Better Health
Black mold is not a health risk to most people, though it can cause problems to those who have allergies or weaker immune systems. But when S. chartarum – an especially nasty species of black mold – is allowed to grow large enough, it can harm almost anyone’s health.
Mold thrives best in damp, humid areas, which is why it loves basements. Unfortunately, the toxic spores produced by mold in the basement don’t stay in the basement. They rise and circulate throughout the house.
A finished basement is a whole different story. Once it has been professionally insulated and waterproofed, a basement no longer supplies the dampness mold needs to flourish!
4. A Finished Basement Can Generate Income
Renting out a basement suite is a good, dependable line of income. Even a studio apartment in the Twin Cities suburbs can easily go for $1,500 per month. As a homeowner you will not be competing with the large multi-family properties, but you can find healthy demand for your newly renovated apartment all the same.
You may have just as much intention of renting out your basement as you have of letting your dog drive you to work. Even so, adding a rentable suite to your home does provide assurance that you could still collect income if you were unable to work.
5. A Finished Basement Accommodates Guests
At this point we should also point out that it is called a “mother-in-law suite” for good reason. If you ever decide to accommodate a respected elder relative, everyone involved will appreciate the extra space. You will doubly appreciate a finished basement if you ever welcome your brother, sister-in-law and three preteen nephews to spend the weekend at your home.
How to Get Started Finishing Your Basement
Finishing a basement is easy! The Angell’s Construction team does it every day. Just do this:
- Design basement
- Clean out basement
- Perform moisture test
- Learn local basement finishing code
- Purchase remodeling materials, such as foam insulation, cement nails, flooring and drywall
- Install new plumbing and electrical
- Install insulation
- Frame walls
- Install drywall
- Install ceiling
- Paint walls
- Install subflooring and flooring
- Add finishing touches – bar, mounted TV, sauna, etc.
Having listed the steps to refinishing a basement, we realize that the project may be outside the scope of what the average layman could do. Plumbing and electrical work must be done by professionals, and insulation, drywall, flooring and code compliance are all difficult chores on their own.
Would you like a finished basement? Would you like to avoid a lot of hard work that you might not be any good at? Then we recommend hiring a basement remodeling contractor to reinvent your home’s lowest level! And if you live in the greater Twin Cities area, we welcome you to reach out to Angell’s Construction today.