The Potential for Increasing Your Home Value with a Remodeling Project
One of the projects that really add value to your home is basement remodeling. If you are looking for extra space to expand your home and have not considered the basement, you are missing out on the possibilities of this understated space.
Design your own basement for your individual needs! Consider what is missing in the rest of your home to decide whether to use the basement as a living space, working space, or entertainment area.
The square meter below ground level costs 50 to 60% less to build than the square meter above ground level. This difference is related to the removal of exterior cladding and windows from the equation. In addition, plumbing and HVAC usually come from the basement, so these pipes are less expensive.
If you need extra space in your home, remodeling the basement is a great low-cost alternative.
When it comes to value, the appraiser gives the basement and any finished portion of it a value based on the quality of the improvements, as well as the “functional utility”. “Functional utility” is a term that an evaluator will use to determine whether something can adequately ensure the purpose for which it is intended. Bedrooms, offices, basement rooms turned into home cinemas and so on are excellent examples of functional utility… when done properly!
Experts in basement remodeling Centennial area recommend keeping the budget of such a project below 10% of the value of the existing house, in order to make a wise investment, which will bring value without affecting your budget too much.
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