Basements are often built with no real purpose, so most of them simply collect dust and cobwebs as the years go by. However, you could actually create a comfortable and functional space out of your basement. It’s full of potential — you can turn it into a game room, home office, your own personal gym, etc. Furthermore, if done correctly, it could help boost the value of your home when the time comes to sell your property.
Oberg Roofing & Remodeling, one of the area’s top roofing companies, discusses a few factors that could have an impact on your basement remodel’s ROI. We also share some tips on how you can maximize your potential ROI.
Factors That Can Affect the ROI of Your Basement Remodel
Regardless of how you plan to design your basement, finishing this space would surely add value to your home. Below are three variables that could influence your ROI for this project:
Local real estate market – Depending on your location, your finished basement could actually be worth more in the long run. The space certainly adds to your home’s square footage, and this could be a good thing for you in a competitive market.
Choice of material – You don’t need to use premium materials, furnishings and finishes for your basement. According to experts, modest or average materials are good enough as long as they’re dependable and sturdy. This would allow you to save money upfront and have a better chance of getting a higher ROI.
Use potential – A finished basement with some open spaces is usually more desirable than several closed-off rooms. This can give you a higher ROI for your basement remodel.
Increasing the ROI Potential of Your Basement Remodel
Much like roof replacement, basement remodels can be planned-out in a way that would increase its potential ROI. Here are a few ideas worth considering:
Use hard flooring. While high-end flooring isn’t necessary for your basement, the space would still need extremely durable flooring since it can be prone to flood or moisture issues. Hardwood flooring is out of the question as it is expensive and tends to warp from moisture seeping through the ground. Ceramic, stone, or porcelain tiles over cement board are usually better options.
Incorporate a mini in-law suite. Multi-generational homes have become more common. Their popularity is expected to rise further as assisted living homes become increasingly expensive. That said, turning your basement into an in-law suite could be a good investment.
Installed recessed lighting. Basements typically lack natural light, so you have to install plenty of recessed lighting throughout the entire space. This way, the room can have a more pleasant atmosphere, and you can keep it from looking so dark, cramped and somber.
Oberg Roofing & Remodeling is a trusted local roofing company with several years of experience in various remodeling and roofing projects. From steel roofs to interior remodels, our team can deliver exceptional craftsmanship.
Call us at (320) 204-2264 or fill out our contact form to request a free estimate. We serve customers in St. Cloud, MN, and the surrounding areas.