Adding Value to Your Home with a Basement Remodel
Did you buy your home with the intention of turning that unfinished basement into a guest quarters or home office but never got around to it? Your unfinished basement is an untapped gold mine when it comes to adding value to your home.
Additional Square Footage
Adding square footage is the biggest value factor when it comes to resale value of your home. This means that a basement remodel is just the trick for homeowners who are looking for a way to increase the value of their home. Sellers aren’t allowed to include unfinished basements in their home’s square footage during resale. Finishing out your basement, or remodeling to include more finished space, can add anywhere from $20,000 to $40,000 to your home’s resale value.
If you’re planning a basement remodel, consider adding an extra bedroom. Not only will you be giving your family more space, a basement bedroom is perfect for house guests. Plus, a 5-bedroom home will sell for much more than a 4-bedroom home. In the Kansas City area, an additional bedroom can increase your home’s value around $12,000.
Pro tip: Basement bedrooms must have an egress compliant window and a closet in order for them to count as “real” bedrooms.
Boost Your Bathroom Count
The same general concept that applies to adding an extra bedroom can apply to additional bathrooms as well. Going from a 3-bath to a 4-bath house can drastically increase the value of your home. Plus, a basement bathroom is much more convenient for your family, or guests, spending time in that new basement bedroom.
Add a Second Kitchen
Consider taking your basement remodel up a notch with a kitchenette or wet bar equipped with a sink, microwave, and refrigerator. This simple upgrade is both great for entertaining and creates a separate living quarters perfect for long-term guests like your in-laws. Having a private guest quarters is a huge bonus for buyers.
Consider the Buyers
During any home remodel, it’s important to keep in mind that while creating customized spaces might be nice, i.e. exercise room, dance studio, etc, there isn’t much monetary value added. While some buyers might appreciate the space, it’s unlikely to find the perfect buyer, with the same interests, that will use the room the way you intended it. Instead, create additional rooms that could easily be transformed into a variety of functions.
Don’t let that unfinished space go to waste. Contact the experts at Built by Design and let us help you create a valuable basement remodel.