These 20 Basement Remodel Ideas That Increase Home Value Will Save Your Remodel
For home owners who are looking for basement remodel ideas that increase home value, it can often be confusing. Not every basement remodeling idea will give the return you hope for. Far to often you can spend money on things you think would improve the value of your home, and have it turn out to not help at all. Occasionally the choices you make during a basement remodel may even hurt the value of your home. We’ve gathered up some of the best advice possible to help you to avoid making bad decisions in your basement remodel.
If you plan on selling your home within 5 years your remodel needs to be geared towards a wider audience. However, if you plan on living in your home forever you can indulge your personality a bit more. Regardless of if you are selling soon or staying forever many home owners want to be sure that any remodel increases the value of your home. The tips below will help you make the right decisions to ensure your remodel adds value to your home.
Basement Remodel Ideas
- Expect toretain 70% of the value that you put into remodeling your basement. This is not a hard and fast rule though. The amount of value that your basement remodel adds to your home will depend on making good choices and decisions.
- Your goal is not to dump every available dollar you have into your basement remodel. Restrain yourself to only spending between 5 and 10 percent of your home’s value on your basement.
- Avoid personalized remodel plans. Making your basement look like a space ship might sound great, but it will not add the same value to your home that a more neutral plan would. Avoid indulging personal tastes in border paper, bright paints and other elements that might not work for everyone. If someone says an idea is “unique” you should think twice about doing it.
- To add value to your home, remodel your basement into something that appeals to the widest audience. See what is common for basements in your neighborhood, and make it just slightly better. If most basements in the area are unfinished then use this space to add something your existing home lacks.
- You absolutely must ensure all moisture issues are addressed in your remodel. Take extra care and put in the options to keep out moisture for the long term. Being able to tell buyers that you have taken the time to protect the new basement is one of the main ingredients that add to the value of your remodel and home.
- Keeping your basement a comfortable temperature is also an important aspect to having this space add to the value of your home. Make sure you have the right size heating and air conditioning and ideally you should have it be on a separate thermostat system from the rest of your home.
- One thing you can not afford to forget is to ensure your remodeling work has all the proper permits filed and approved. Anything that you do not get an approved permit for will add no value to your home, and you may have to take it all out to even put your home on the market. Research what work requires permits, apply for the permit, get the inspection and you will be guaranteeing your efforts do not go to waste.
- A standard height, or higher, ceiling in your basement can help add to the value of your home. Balance the value of digging the floor lower, against the added value of the basement to your home. If lowering the floor kills your profit it makes no sense to pursue that.
- Soundproof the mechanical areas of your basement. Nothing spoils an entertainment room, or a cozy bedroom, like the overwhelming sound of an air handler turning on.
- Use moisture resistant materials including drywall and flooring in your remodel. This adds value to your basement remodel by allowing you to tell your buyers it is better for the long term.
- If you plan on remodeling your basement into a living space, keep the style consistent with the rest of the house.
- Ensure that your basement has enough light. This can be either through lighting fixtures or adding enough exterior windows to bring light in. You should try to have one light source every 7 feet. Recessed lighting, or lighting level with the bottom of your floor joists keeps your lights from stealing ceiling space.
- Open up the stairway. Most basement stairs hug an exterior wall, remove the other wall and open the space up more. Consider having a totally open stairwell and remove the risers, opening up the sight line makes the basement feel larger.
- If possible, add a door leading outside. This will largely depend on the exterior grade of your home. If you can make an exterior door this makes a basement more valuable to potential buyers.
- Don’t price your home out of your neighborhood. If your home is already worth as much or more than comparable homes in your area, sinking $40,000 into a full basement remodel may actually keep your home from selling. Be smart about how much money you put into your basement and what impact it will have on your ability to market your home in your neighborhood.
- Knowing the market and what buyers want is the best way to make money on your basement remodel. If people in your area want wine cellars, and you put in a game room, you have missed your mark. Research what is desired and focus your remodel on what is wanted to get the most return on the money you invest. A good Realtor® can tell you what other homes in your neighborhood have to offer, and how you can match it.
- Don’t skimp on materials that you put into your remodel. A cheap remodel, with substandard materials that are put into place in a haphazard manner will not add to the value of your home. The quality that you put into the materials of your remodel will largely determine if it adds value to your home. This doesn’t require you to purchase the most expensive version of every single piece of trim. Quality materials can be solidly in the mid-range of the price scale.
- Less can actually be more. If you aren’t sure what buyers in your area are looking for specifically keep your remodel basic. Don’t do more than finish out the walls and ceilings. This gives potential buyers a blank slate to put their own stamp on.
- If your local Realtor® points out that buyers are looking for a functional room in your basement then adding functional rooms to your basement may add more value to your home. While a blank slate appeals to many, others are looking for another functional room. The trick to this, as stated above, is finding what most people are looking for in a basement.
- The best way to increase your home value is to remodel your basement into a livable apartment. If you want to take this step be prepared, this means a much bigger up front cost in your remodel. To pursue this goal of an entire livable apartment you will also need enough room to put in at least a one bathroom, bedroom, kitchen and living room. If you have the room though you may be able to charge a large portion of your mortgage cost in rent.