Your basement is like an IRA-- by putting money into it, you are going to get a good return on your investment.
Most newer houses are sold with an unfinished basement, and after 2-5 years people are able to afford to finish them. They also have lived in the house long enough to decide what their house is lacking.
COST
Depending on how many rooms you want in your basement will decide your cost. A very basic finish could be as low as $50 square foot, but on average you will need to budget at least $90 square foot.
Here are some of the things we have done for our clients:
- Home office(s)
- Home school room
- Home theater
- Guest suite
- Rec room
- Workout area
- More bedrooms & bathrooms
- Storage, Storage & more Storage
We always recommend reserving some space for storage. If the storage areas are not finished you save some construction cost, and you have an area to store items indoors.
ROI
On average, you will see a 75% return on investment by finishing your basement.
Example:
Basement size: 650 sq ft
Rooms added: rec room, 3/4 bathroom, bedroom or office
Project cost: $65,000
ROI: $48,750
That ROI is the financial return, but you also have the value of more finished space in your home while you are living there.
This basement is ready for rough inspection.