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Are Basement Renovations Worth the Investment?

May 2, 2023 | Basement

In more recent years, the basement has taken on renewed importance as a bonus area to remodel. Whether you want to turn it into a bedroom, laundry room, full bath, media room, home office, yoga studio, gym, wine cellar, or living area, it’s versatile enough to be reconfigured to suit any space you envision.

Remodeled basements can be a great way to increase your living area, and we have a handy guide to the best reasons to maximize your home’s potential with a basement upgrade.


Compelling Reasons to Renovate Your Basement and Maximize Your Home’s Potential

With a basement remodel, you stand to gain a multitude of benefits. And yes, this is even if you opt. to finish your basement without converting it into any additional living space. We provide some of the benefits you stand to gain below:

  • Increase the value of your home: A basement is often portrayed as a dark and gloomy space used for laundry, a utility room, or for storage. By transforming it into any of the options we’ve mentioned, you stand to gain more than just square footage. Reports show that a finished, transformed basement can earn an average of 90% of its remodeling cost back at resale. This makes the investment well worth it and ensures a return on investment.
  • Earn from it: If you don’t want to use the extra space for yourself, you could still remodel your basement to your advantage. Build a secondary suite below and rent it out. Again, apart from raising the resale value of your home, you stand to earn an additional handy income from this.
  • It can be a health hazard: Basements can be notoriously damp. Leaks and floods can occur when left unattended. Basements can also become a breeding ground for mold and mildew. Replacing drywall, changing the insulation, and taking care of the flooring can give your basement a fresh lease of life and ensure you and your family don’t have any health problems, gas leaks, or water issues on your hands.
  • Save up on power bills: If your basement is not adequately insulated and ventilated, it can become an additional drain on your electricity bills. You can save on this through a basement renovation and reduce energy inefficiencies and air leaks.
  • Host guests and family who need their own space: Turning your basement into a guest room can give you an additional comfortable space to host family and friends without needing to put yourself out or interrupt your routine while also providing the other party their privacy. Another option is to create an in-law suite with the same benefits. You can build an entire suite or even a self-contained apartment and set it up to suit whoever stays in it. This works exceptionally well if you frequent weekend visitors, kids staying over from college, or elderly parents who could do with the extra space while being close by.
  • Entertainment den: If you’ve ever dreamed of having a home theatre, watching a ball game in peace, or even a space where you can play music without worrying about bothering your neighbors, the basement makes an ideal choice to house state-of-the-art sound and video equipment and large-screen TVs. You’d save on entertainment expenses if the home becomes a cooler place to hang out than trips to a cinema or club.
  • Set up a home gym: A home gym is perfect for those who struggle to find time to get themselves to a gym. The next best thing is to set it up at home, and if you have ready space in the form of a basement, it’s easy to convert it into a functional gym with the equipment of your choice.
  • Family rooms: If you have children, a basement becomes the perfect space to turn into a family room. One of the reasons for this is that it allows you to create a transition between the outdoors and indoors by adding a patio door. This can also give you easy access to a grill, making hosting backyard cookouts convenient. The other advantage for kids is that basements tend to stay cooler during the summer, and you can easily add a gas fireplace to make it cozy for when the weather turns cooler. And, of course, converting it into a bedroom can be an advantage for kids and adults alike. It can even serve double duty as a handy home office or allow you to install a luxe bathroom replete with all the space you need for a sink-in tub with an attached wardrobe.


Contact Us Today

A basement renovation is an ambitious project. It comes with a significant investment, and when you put in this kind of time and effort, you want to be sure that the end result looks fabulous. This means having the right set of experts onboard.

At Owings Brothers, we are committed to remodeling your basement into the space you envision, right from the design to the planning and execution.

Contact us today to see how we can redo your lower level to make it warm, inviting, comfortable, and functional.