Value of Finished and Furnished Basement

Either you have planned to sell your house right now or in future, the decision to renovate and furnish your basement is highly lucrative. Of course, while making new investments in your house for selling, you look into return on investment for each penny; the investment in basement is worth it. As per multiple surveys, immediate return on investment for basement is estimated at least 30% of total investment.

Though these are conservative figures, still these speak highly about the potential for investment in your basement. Why do basements yield greater ROI?

Offer greater living space

Along with increase in overall value of property, the basements offer greater living space. Basement can have additional bed-rooms, bathrooms, dining hall, kitchen, storage room, recreational room and lounge area. In short, basements offer an additional floor within same area. Basements are perfect areas to be used as storage space where precious and non-perishable items can be safely placed. This notably reduces the cluttering in your house.

Facilitate energy conservation
The temperature in basements is mostly moderate especially if it is insulated or conditioned. In summer, it is less warm inside basement while in winters it is less cold. Such temperature ensures the lesser energy consumption which in turn significantly reduces the electricity and gas bills. But as basements sometimes turn to be more humid, therefore adding a good humidifier is equally important. That is why open basements are in greater trend now.

Great source of rental income
As basements can facilitate a house set-up, therefore these are great source of rental income as well. A well furnished basement fetches higher price than a non-furnished one. Furthermore, until the potential buyer for your property is unavailable and you are still living within the property, this investment in basement can still bear fruit. The contract can be short term depending upon your selling plans.

Offers great privacy and safety
In western countries, due to cyclones and hurricanes, basements are treated as safe havens. Under such weather conditions staying inside the basement is safe. While on the other hand, these are not directly located on ground floor, rather have side entrance, so basements also facilitate greater level of privacy. Especially, if you are hosting special guests for few days, their stay at basement can offer them greater level of comfort and privacy. Living in a basement for them would be as if they are living in their own space.