Finished Basement: Is the Cost Worth the Rewards?
A finished basement offers homeowners numerous advantages and rewards. When deciding to finish a basement, though, homeowners should be aware of the costs associated with the project and how to save money. This way you are more prepared for what kind of investment you are getting.
Basements Give a Home More Livable Space
A finished basement will add more living space to a home. A well-designed basement can become a safe and warm play area for children. It can free up space in the home, including the main floor and second story of a home. Toys can be safely stored and played with in a basement. Older children will find a finished basement ideal as a computer and TV room. Dad can build a workshop where all the tools and machinery are always available and easy to use. Basements can be finished to provide space for guests who stay the weekend. Bathroom facilities and bedrooms can be built in a basement. Extra income can be realized by renting out a basement apartment to students or family members. It can even be built in a way that offers private and separate entrances for renters.
Consult a Professional Contractor
If the goal of a basement remodel is as an entertainment center or living quarters, homeowners should first consult a professional TC home builder and contractor before starting. Having a plan designed by professional will save money. The homeowner will also know how much money each phase of the remodeling will cost. By setting a budget and sticking to it, unwelcome cost overruns will be avoided.
A Basement Remodel Cost
Building a family recreation center will cost $50,000 to $75,000. This will include wiring, flooring, insulation, windows and doors, painted ceilings and walls, moisture-proofing, a full bath and a wet bar. Mechanical devices that run the home would be partitioned off. Building a legal and comfortable rental unit will cost between $30,000 and $50,000. Always remember that county and state building codes must be followed. Looking at New Home Designs in Edina, you’ll see how just little touches can really make or break a room and a houses value. Adding a finished basement to a new home under construction will cost about $20 to $35 per square foot.
Adding Value to a Home
Although the initial cost of a finished basement can appear daunting, that effort will increase the value of a home. A finished basement adds living and play space for the entire family. By consulting with a professional contractor, money will be saved. The ultimate cost of a finished basement will be determined by the material used, building drainage and adding amenities like a bathroom.
A finished has all kinds of potential for homeowners. From added property value, to a possible source of income, finishing a basement is an investment everyone can appreciate. If you aren’t sure the cost is worth the end benefits, look over your building plan and see where you can cut back and save money.