Finishing A Basement Adds Value To A Home

Finishing A Basement Adds Value To A Home

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finished basement

Many homes are built with unfinished basements as this is the one area of the home least used by homeowners throughout the course of the day. Even the lowly garage, if not used to house vehicles, is often the place where stuff is stored. Basements are rarely considered to be an area where homeowners plan to spend much of their time.

Basements do have a purpose that some people fail to consider — if finished off, this room can add value to a home perhaps far more value than it would have had it remained unfinished. A finished basement can be used as a recreation room, as a play room for children, even used as a den. What a finished basement does do is add equity to a home.

Most home improvement projects can be get quite complicated, even expensive, but with a basement finishing project, the amount of work that needs to be done isn’t always that involved. Certainly, if you desire walls or partitioned areas then that will add to the cost of the project. Some basements aren’t tall enough to put in dropped ceilings, but for those which have the room, this isn’t an expensive job.

If your basement has some problems with water, you’ll want to coat the walls with water resistant paint. While you’re at it, head to the outside to make sure that the soil slopes away from the house and that the drainage is good. You may have to add in drain pipe extenders to help move water away from the house.

Heading back inside, consider using tiling for the flooring. Most kitchen style tiles will do, but if you elect to go with a raised floor, you’ll pay quite a bit more money. Add in wall to wall carpeting and your small project has mushroomed into a full-fledged home improvement job.

Likely, all of your electrical and plumbing hook ups are already in place, but be prepared to run some lines or piping in the event you need to heat, cool, or light a certain area. You want the room to remain as dry as possible so consider having a dehumidifier on stand by, ready to kick in as needed.

Once you have your plans established, you can tackle this job over several weekends or take a week off from work to get everything done. When completed you’ll have a room that everyone will love and that finished basement will add to the value of your home.

Resources

Home Equity Lending

Managing Bank Equity

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