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Many people use the services of a real estate agent when purchasing a property. In your quest for finding the right propertyn

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Finished Basement – Increasing Home Value And Home Space


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finished basement increasing home value and home

Finished Basement – Increasing Home

Value And Home Space

Many people use the services of a real estate agent when purchasing a property. In

your quest for finding the right property, you may probably find an already finished

basement. And if you asked how much it will cost to buy the property? Then you

might get a vague answer such as–“that depends”. Definitely, it will take you many

years to realize that truly, many factors affect the value of a finished basement. And

a lot of agents take advantage of that.

Some of these factors include:

1. Its end use

This factor is of high priority. This is because many basements are constructed or

renovated in such a way that it suits a certain use. For example, a finished basement

may be designed in such a way to be best utilized as an entertainment room. Other

types are nanny suites, home theatre rooms, gymnasium, and basement apartments

and so on. These types yield greater rental income or return on investment (ROI).

2. Quality of furnishing materials

As a homeowner, you will agree that the quality of the finishing in a property

commands a high price. Many homeowners prefer to use high-end finishes than

those that offer quantity. If basement walls and floorings are made of quality

material, the market value will definitely rise.

Additionally, hiring a good contractor should command quality in workmanship. But

quality will only count if the basement’s quality matches that of the rest of the home.

No one is willing to buy high-end basements with the rest of the home looking like a

hut.

3. Overall basement space

The utmost reason many people upgrade their basements is to get more home

space. Therefore, it is safe to conclude that a larger basement space will result in

more value. Simply put, additional square footage equals higher value. Not to

mention the quality of materials that will be lavished eventually.

Before you conclude on how large you want your basement space to be, do

remember:

i.

How functional will the layout be? A greater ROI will be derived from layouts

with usable space.

Open concept designs. These are designs that give more space rather than

designs with several divisions.

ii.

Reasons why Finished Basement Yields Low-Value

however there are many reasons a finished

However, there are many reasons a finished basement may not bring in as much

value as expected. So do not be deceived when you want to buy property.

 Basements with poor layout and design should be avoided. They will not allow

enough usable space in the home. Additionally, hire good hands with many

years of experience when you want to renovate your basement.

 Poor quality workmanship compromises the value of basement. A good

contractor knows the importance of executing a good renovation from start to

finish. This will prevent half-baked finished basements where extra work is still

required.

If none of the conditions above can be met, just leave the basement untouched for

home buyers. They will renovate the space to their taste.

Article Source: http://www.creativehomeidea.com/finished-basement-increasing-home-value-

and-home-space/