The concept of the basement has already existed for a century. It used to be considered simply as a crawl space and was originally used mainly for storing large types of equipment that take too much space off the house. It was only in the 1950s that basements became more popular in the United States.
Nowadays, the concept of the basement has evolved. It is now used more than just a storage area. But to utilize its potential to the fullest, it has to be thoroughly finished.
Here are the 9 benefits of having your own basement finished:
1. Maximizes your home’s space
Finishing your basement is just the same as expanding your home. It allows you to utilize the space occupied by your basement. Instead of being wasted, a finished basement may be used for a variety of purposes such as for recreation, welcoming guests, as a workspace, etc. You only need to come up with a decent design to utilize the basement based on your preferences.
Having a finished basement is energy-efficient especially during the colder season. The floor and walls of the basement have better insulation properties due to the soil surrounding the basement’s external walls. This lessens the area of exposed walls which consequently reduces the rate at which heat is dispersed.
This kind of set-up helps preserve heat and prevent temperature fluctuations. This makes the area 10 percent more thermally efficient compared to other rooms in the house. Pairing it with insulated walls can save you up to 30 percent of natural gas usage.
3. A way to circumvent zoning restrictions
Almost all the major cities in the United States have zoning restrictions. Zoning restrictions are limitations that are to be followed when building certain structures in certain areas. These usually involve imposed limits on a structure’s height, the number of structures within an area, and how the surroundings can be utilized.
A common problem faced by people who want to expand their houses are these restrictions. Some may not be allowed to further expand horizontally due to possible violations. But finishing your basement allows you to essentially expand your home without violating zoning ordinances. You are able to create more space for your home without expanding outwards or even upwards.
You do not have to spend as much money in finishing a basement compared to when building a new story. A typical basement finish does not require the same full cost of building a room from scratch.
You just need at least a decent floor plan, standard wall framing, and proper insulation. If you are not familiar with these concepts, you can simply check out CostFreak’s suggestion. You can use this as a guide or a reference for estimating possible expenses.
5. Increases the house’s investment value
Aside from being inexpensive, finishing a basement also adds to the total value of your house. Finishing your basement means adding to the total square area of your house, and this increase in the total square area translates into a higher value per square area.
On the average, up to 74% of the price for finishing a basement is added to the total value of the house. This means that you basically recover up to 74% of what you spent on finishing your basement. This is already a great ratio assuming you were able to utilize your basement before you sell your house.
6. Can be a source of income
Other than the added value that a finished basement contributes to your house’s selling price, it can also be used to earn passive income. You can transform your finished basement into a rental unit. This way, not only do you eventually earn back the money you spent on finishing it, you also have the potential to earn a lot of profit.
This plan is not for the impatient because it will take years or even decades to earn a substantial amount of profit. But considering the fact that you do not need much effort for this investment, we’d say it is very worth it.
7. Can be converted into comfort rooms
Another great use of a finished basement is that you can design it into whatever you like. You can make it into the most comfortable room that you can think of. It can easily be customized based on your liking and based on what you want to use it for.
8. Reduces potential health and safety hazards
The benefits of a finished basement are not only limited to its usability and value. It can also help reduce potential health risks for your family and the safety hazards of your home.
Finishing your basement prevents the formation of mold and mildew which can cause unbearable odor, making your basement inhabitable. It also helps you resolve and avoid water problems, such as moisture issues and stagnant water.
9. Very flexible
As we have mentioned above, a finished basement can have a lot of potential functions. You can use it as a guest room for party guests or a gaming room for your friends. You can make it into a gym to have your daily workouts. You can even make it into a room with a bathtub primarily for relaxing and taking a break from your work.
With a good imagination and decent amount of money, the possibilities for your basement are virtually endless. You just have to know what you really need and what you really want. Just plan your decisions accordingly and your basement can be a priceless part of your home.
Ready to start the process on your basement remodel? Jerry Vidmar has over 40 years of design, cabinetry and construction experience in the Denver metro area. Get your free estimate here.