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Home » Home & Garden » Remodeling, Maintenance & Home Decor » Finished Basement: The Pros And Cons Of Doing A Basement Remodel

Finished Basement: The Pros And Cons Of Doing A Basement Remodel

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When I was growing up, the large house we lived in had a full basement. It was basically one large open room.

Today, basements have become valued resources. They are often used as full-fledged living spaces, with additional bedrooms, bathrooms, and home entertainment features.

This brings to mind one important question if you’re considering investing in an extensive basement makeover:

Is A Finished Basement A Good Investment?

basement-remodel-before basement-remodel-after

Generally speaking, when it comes time to sell your home, the average return on your investment for a basement remodel is about 75%.

Whether it is a good investment or not ultimately depends on what your motivation is for remodeling your basement.

For instance, do you plan to live in your home for many more years, or are you intending to sell in a year or two?

 

Pros And Cons Of A Finished Basement

Here are some things to think about before you begin a basement remodel…

Pros

1 – Your home will be much more comfortable and enjoyable for the entire family since you will now have space for things like additional bedrooms, bathrooms, or maybe even a home theater or large family room.

2 – The useful square footage of your home will increase significantly. This added living space is very attractive to prospective buyers.

3 – You will have the added space without affecting the actual footprint of the house. No messy additions to worry about.

4 – If your local zoning ordinances or property lines prevent you from expanding either up or out, a finished basement may be the perfect solution.

5 – Improved access may be gained with a basement remodel in the form of a walkout basement, access to backyard space, and the ability to make better use of your property.

 

Cons

1 – When it comes time to sell your home, you may be pricing yourself out of the market, if the neighborhood doesn’t have homes with similar improvements.

2 – Moisture is always an issue in basements. Dampness creates mildew and mold. Basements are notorious for always having high humidity.

3 –  Will you really use the space enough to justify the expense? Often people find they truly don’t want to go all the way downstairs or to an area of the home that seems isolated from the rest of the house.

4 – You may actually experience a loss of storage space. Yes, basements can quickly become a catch-all for things (or junk). Be sure to consider where you will store all of the things that are in your unfinished basement right now if you decide to go through with the basement remodel.

5 – Higher utility bills and taxes are an unavoidable side-effect of basement remodels. Now that you’re actually going to use that space, you will have to heat, light, and possibly cool it as well. Plus the tax man is going to learn of your now higher resale value and penalize you accordingly.

Before you start calling contractors and getting estimates for a basement remodel, take some time to look at the big picture.

These are only some of the obvious pros and cons to finishing your basement. I bet if you stop to think about it, you can double this list with very little effort.

In this video, you can follow along with the construction process as this basement transitions from an empty space into a beautiful living space:

 

More Tips For Your Basement Remodel

  • How To Build A Basement On A Budget
  • Helpful Tips For Your Basement Remodel
  • Important: Know Your Egress Codes Before Finishing The Basement!
Curtis
Curtis

I’ve been involved in RVing for 50 years now — including camping, building, repairing, and even selling RVs. I’ve owned, used, and repaired almost every class and style of RV ever made. I do all of my own repair work. My other interests include cooking, living with an aging dog, and dealing with diabetic issues. If you can combine a grease monkey with a computer geek, throw in a touch of information nut and organization freak, combined with a little bit of storyteller, you’ve got a good idea of who I am.

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Filed Under: Home & Garden, Remodeling, Maintenance & Home Decor Tagged With: Basements, Bedrooms, Remodeling

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RandyI started as a home-stalker... visiting brand new homes under construction in the neighborhoods near my house. That inspired me to write about home building and home renovation projects -- chronicling homes during different phases of construction from a consumer's point-of-view. Basically, the tips you'll find in my articles are a collection of checklists for what I think should (and should not) go into building or remodeling a quality home.

Randy: View My Blog Posts

LynnetteMy husband and I have been through the home building process... from scratch... more than once! (And we still have a few pieces of property that we might build on in the future.) So we definitely have some helpful tips to share when it comes to designing your dream home and building a house from the ground up. We've also learned that the 'fun' doesn't end once the house is built. Our clever home maintenance hacks will save you time and money each year that you live in the home. And... since everyone's house eventually needs a little remodeling (as has ours), we've got some ridiculously helpful home renovation tips as well! Whenever I’m not DIYing something around the house or adding to my Dream Home Wish List, you can find me at the corner of Good News & Fun Times as publisher of The Fun Times Guide (32 fun & helpful websites).

Lynnette: View My Blog Posts

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