If you have a decent amount of basement area that is being used to store items you probably haven’t used in years, this is a good time to consider making better use of the space by refinishing it. A basement remodel may be one of your best returns on investment for your home. If you’re considering improving your home and setting yourself up for success later on, here’s what to know about basement remodels and how you can benefit.
1. A Finished Basement is an Economical Remodeling Project
One of the best advantages of remodeling an unfinished basement is that the foundation and vertical walls are already in place. Similarly, there is no need for a roof. The enclosure is already there, so basically there is no cost to build a structural enclosure to add a room to increase your square footage. Assuming water infiltration is not an issue, this is a fairly straightforward fit-out. And, even if there is a dampness issue, we can remedy that in most cases. You won’t have extra costs adding up by needing to add new structures when you remodel your basement.
2. Refinishing Your Basement Increases Resale Value
At some point, you will likely consider selling your home. When and if that time arrives, potential buyers may be looking for a home that requires little to no updates. One of the features that home buyers often look favorably on is a finished basement area.
Think about a bonus room with a home theater, a children’s play area, a fitness room, or even a home office for working remotely – even if you don’t have need for these things, potential buyers in the future might. All of these can add great value to the home and allow you to price the house in your favor. You also have the benefit of being able to enjoy the space as long as you stay in your home, customizing it however you want in the meantime.
3. Potential Income
As long as local zoning codes are in your favor, there is potential to generate revenue from a well-finished lower-level apartment. Adding an entry door and window wells may be necessary, but those are not challenging for our skilled tradesmen. Another possibility is renting the space via Airbnb or VRBO.
You also may be able to save on your taxes if the space is converted into a legitimate home office. This is especially popular now as so many employees and business owners have transitioned to a remote or hybrid working model.
Why Work with Us
Engelhard Construction is a professional remodeling company with experience in transforming unfinished basements into usable and attractive living spaces. Basement refinishing isn’t always a DIY project. It involves electrical, heating and cooling, plumbing, framing, insulation, drywall, finishes, and many other customized components.
Our skilled construction team will work with you and your vision from project inception to completion. We will perform a detailed inspection to determine the condition of the foundation, evidence of any water damage, and possible building or zoning code issues so there aren’t hidden conditions or extra costs. Our goal is to respect your budgetary requirements and offer transparency regarding potential problems.
Request an Estimate
Our greater Grand Rapids area team members would be happy to speak with you about your basement remodeling project and prepare a construction cost estimate. Feel free to contact us today to get started.
