When the term “renovation” comes to mind, most people think of high costs, their bathroom, bedroom, living room, or all of the above. Understandably, the options that immediately come to mind for a renovation project are the most-used rooms in the house. Although a bathroom or bedroom renovation may be good ideas to consider, there may be one room in your home that needs some TLC: your basement!
Now, you might be thinking of all the different ways that you can renovate your bedroom to fulfill a longtime desire or make it easier to live at home. But did you know that it’s important to renovate your basement before doing anything else?
Commonly, the basement is considered as a simple storage space or extra room. For most with basements, however, there is a potential to turn this underground real estate into something more useful and beneficial.
Over the years of use and subsequent abandonment, the basement will turn into something that needs to be eventually taken care of with a thorough renovation. Also, it is an investment that can help with significantly boosting the value of your home.
Why should you get your basement renovated?
Aside from making your home’s extra space look much better than ever, a basement renovation can provide a few key benefits that you can take advantage of:
You can add living space in your home
Renovating a basement can pave the way for as much as two times the current living space a home already has. Compared to home space addition projects, basement renovations are a much more economical and practical way to add residential square footage.
Although the allure of having an extra room to sleep can be overwhelming at times, keep in mind that adding residential space doesn’t mean having another bedroom. Instead, you can have a home theatre, fitness space, home office, or playroom in it. Renovating your basement frees up space that can be used for productive and functional activities that aren’t related to storage and collecting dust.
A basement renovation project can increase property value
While a basement renovation project’s price may seem off-putting at first for some people, the return on investment can definitely turn heads and change minds. If you’re looking for a way to boost the value of your home without doing anything drastic, then a basement renovation project is definitely the way to go.
Typically, most renovated basement remodels or projects will add 10 to 20 percent to your home’s value. The profit increases along with the size of the basement.
Renovated basements create great opportunities for additional income
If you’re looking for a way to ease paying the bills or fast-track the process of saving up for a vacation, a basement can help you.
By renovating your basement, you’re essentially creating another space in your home that can be used as a room to live in. Basement rooms or suites can be rented out at a price that is 75 percent of the entire home’s monthly mortgage without any objection. Basement renovations make it much easier to offset the project cost while providing a steady extra income.
A basement renovation is a step that can be taken to add a few dozen square feet to your home’s total floor space in a matter of weeks. Through the help of a professional home contractor, a top-quality basement renovation job can make a significant difference in the way you live at home, financially and physically.
If you’re looking for a modern basement renovation service in Toronto, Zumin Homes is your best option. Get in touch with us today to see how we can help.