6 Practical Reasons to Renovate Your Basement

You think about doing something with the basement every time you take down one more box of belongings to store. The fact is that you don’t need most of what’s stored in the basement. What you do need is more square footage that actually benefits you in some way. The team at Toronto Penguin Basements has helped many homeowners convert their basements into functional space. If you need a reason to get started, see if any of these work for you.

Adding More Living Space for the Family

Are things getting a little crowded upstairs? Perhaps some of the kids are sharing rooms right now. While that’s fine at present, what happens when the older child wants a room of his or her own? Do you give up the dent and make it into another bedroom? There’s a better way: convert the basement instead.

So how much does a basement reno cost? Not as much as you think. Depending on the condition of the wiring and a few other basics, converting the basement into a bedroom may be a relatively simple project.

Remember that another bedroom is not the only way you can use that new living space. It could also become a home office, a craft room, a game room, or whatever type of shared space you like.

Creating a Cozy Space for Guests

What happens when you have weekend guests? Do family members give up or share their rooms? Does the den become a temporary guest room? If that’s the way you make space for guests, something needs to change. The team at Toronto Penguin Basements can help with that.

Think about transforming the basement into a guest suite. Add touches like a private bath, an area for watching television or reading, and the most comfortable bed that you can find. Everyone gets to sleep in their own beds and your guests will feel right at home.

Generating More Income

Did you know that it’s possible to renovate a basement into an efficiency apartment? Think of what you could do if you had that extra income every month. The money could be set aside for college expenses, saving for family vacations, or used to generate more wealth for your retirement years.

How much does a basement reno cost? To create an efficiency apartment, you will need to invest in wiring and plumbing, ensure the walls, floor, and ceiling are sealed and moisture-proof, and add some cosmetic touches. While it may take a little time to recoup your investment, the day will come when the monthly rent is nothing but profit.

Making the Home More Energy Efficient

You may think that making the basement into living space would add to the energy consumption of the home. In fact, the right approach could make the home more energy efficient. Seepage from the basement can affect the climate on the first floor. When the basement is finished and that seepage stops, you find that the cost of heating and cooling the added space is a lot less than you expected. The team at Toronto Penguin Basements can examine the space and ensure that everything is done in line with local codes and helps make the home easier to heat and cool.

Improving the Market Value

More finished square footage goes a long way toward increasing the market value of the property. The fact that the asset is worth more will certainly come in handy over time. You are doing your part to increase property values in the neighborhood. That increases the odds that any new neighbors who settle in the area will want to take care of their properties too.

And Ultimately Selling the Home for a Higher Price

While you may be planning on remaining in the home for years, the day will come when you want to sell and buy something that’s more compact. At that point, you’ll be happy that the basement renovation was done. The home will command a higher price on the market and you are more likely to receive bids within an acceptable range. That makes it easy to sell the home, buy another one with cash, and still have some funds to set aside in an interest-bearing account.

So how much does a basement reno cost? Not as much as allowing the basement to continue languishing. Invest in the space and the returns will include greater comfort for the family, a welcoming place for guests, an additional source of income, and certainly a better price when you sell. Call today and get started. The sooner the work is finished, the faster you get to start enjoying the benefits.