Home improvement retailers are projected to do more than $400 billion in business by the end of 2019.
It’s not hard to see why. These days, renovations and remodels are all the rage as people look to spruce up their homes, breathe life into their aging homesteads and simply just change things up.
Whether you’re looking to remodel your basement, enlarge the kitchen or maybe add another bedroom, there’s no shortage of ideas when it comes to home renovation. If you’re looking to give yourself more space and add a little comfort at the same time, remodeling a basement might be just the project you’re looking for. Rather than stockpiling junk in the corners of your basement, you can turn your basement into an extra bedroom or the perfect hang-out spot. Home Advisor estimates the average basement remodel can have up to a 70% return on investment, so you’ll more than likely be able to put a few dollars in your pocket too.
Here are five tips to pulling off the perfect basement remodel:
- More bedrooms: By remodeling your basement, you can add quite a bit more space for any number of things. Maybe it’s more storage for miscellaneous items or maybe it’s the addition of one or more bedrooms. Keep in mind that for a space to be considered a bedroom, it must have a closet and it must have two forms of egress, or ways to exit a property. Remodeling companies can help you design a plan to install bedrooms in your basement so that you’ll be able to accommodate more company and increase your property’s value while you’re doing it.
- More bathrooms: Extra bedrooms are great, but so are extra bathrooms. Having additional bathrooms in a house is always a good thing to have, especially if you’ve got a large family or are entertaining guests. Putting a bathroom into a basement takes some work when you account for plumbing, drywall, tiling and installation of a divider. But it’s a worthwhile investment to be sure. Since it can be a tricky thing to pull off, remodeling companies can either help you create a bathroom in your basement or at the very least give you some helpful tips if you’re tackling it as a DIY project.
- Return on investment: As previously noted, a finished basement can have quite a big ROI (as much as 70%). Remodels, renovations and home additions should never be done purely for financial gain, but there’s no denying a remodeled basement can have some big dividends. When it comes to ROI, keep this in mind: if you spent $1,000 on finishing your basement or remodeling it, the value of your property is increased by about $700.
- Extra Storage And Recreation: If you turn your basement into a game room or lounging area, people are going to notice, whether you’re talking about friends or potential buyers. Your basement doesn’t have to be a cold, dark place. Remodeling companies can help you figure out the best use of your basement for recreational purposes and turn it into the place to be in your house, perfect for parties, watching sports or for kids to play in.
- An Easy Job: When buyers are looking at a house they’re interested in, a finished basement is usually an added bonus instead of a necessity. That means you can do as much or as little to a basement as you feel is needed. People mainly want lighting and flooring in basements, so as long as you’ve got those, you’re golden.
If you’re looking do some home remodeling or finish your basement, talking with remodeling companies and remodeling contractors about a design build will help turn your ideas into reality. Taking a little bit of time to plan things out first will help the project come to fruition just the way you want it and will give you a great return on investment.