An empty basement is something that eventually gets noticed for being a waste of space. People have an intuitive need to fill up that space and make it inviting. Not only that, but a house without a finished basement is something that can actually be passed over as being unattractive to a new buyer and does nothing for the resale value of a home. For this reason, many people are considering finishing their basement. So, what are the advantages and disadvantages of finishing a basement?
The biggest disadvantage of finishing a basement is that it does require thousands of dollars to achieve. This is unavoidable, but the cost can be fairly inexpensive or quite high, depending on what the homeowner wants to do with the space. The basic cost of finishing a basement usually falls in the range of sixty-five hundred to eighteen thousand dollars. The reason for that wide margin is that the more complex the concept for the basement, the more it’s going to cost. In the end, though, it’s usually worth it to have the extra usable space available.
The only other real con to finishing a basement is that one does have to keep in mind what might happen when they try to sell the house down the road. A bar or a man cave that was custom made and installed might be something that a new owner might look at as an issue if that decide that they will have to remove it. The good thing about wisely using the space is that things like guest rooms and theatres in the basement are likely to be seen as an incentive to buy a home.
The greatest advantage of making a basement into livable space is that it gives a home a significant increase in square footage, allowing a family to spread out and give each other more privacy when needed. It also allows them to come together as a family as well when a basement has a movie theatre or family room in it.
A basement also presents a unique opportunity as well for a family. The first and second floors of a home tend to already have its layout allocated for certain spaces like a living room, dining room, kitchen, and bedrooms. The basement is the only place where people can create a space that’s unique to them. As a result, finishing a basement can result in a home theater, man cave, lounge, or even a guest room, if that’s what the family needs.
The best part of renovating a basement is that the cost of finishing it is money that the homeowner might get back at a later date. This might seem like wishful thinking, but the reality is that renovating a basement usually results in a higher estimate of a home’s worth which means that the owner can likely get a better price if they choose to sell it in the future.