If you build it, will they come? If you take the time and effort to remodel your basement, will it pay for itself? Will it cover your costs and then some?
A basement remodel is not the time to channel your inner (or perceived) Bob Villa. Unless you have attempted many other home remodeling projects and have the patience and time, a basement remodel is best left to professionals. However, a professional price can reap many benefits when it comes time to sell your home.
According to a report by Remodeling Magazine, a $62,000 basement remodel recaptures 79% of its investment in the Denver area. More than recouping one’s costs, a basement remodel has the potential to appeal to a wide range of buyers. If you include a kitchenette, you can reel in families looking for a mother-in-law to live up to its name or bring in extra rental income. If you appeal to families, your basement remodel might include a recreation room for the kiddos and a large entertainment area for the adult set.
However, any type of finishing is not necessarily better than the unfinished basement you currently own. A badly refinished basement can harbor mold and deter potential buyers who can only see your shoddy attempts as an eyesore they will inherit, rather than an area to relax in and enjoy.
Even in dry, arid Denver, moisture can be a problem and is best left to the experts. My husband and I looked at a house near Sloan’s Lake in Edgewater. The basement had been remodeled by the homeowner and there was no record or video to record how it was completed. Why was this an issue? The home lay in a flood zone. Flood zones seemed more germane to Missouri, near the Mississippi River than in landlocked Colorado, but one month later, September 2013, fourteen counties were declared disaster zones when floodwaters saturated an area 200 miles wide and included the very spot where our potential home lay. We walked away from that home, not knowing how the basement remodel was completed. If the homeowner had chosen a professional company to do the job, we would have put in an offer on the home.
The extra square footage is an attractive selling point, especially when your basement is anything but a cave.
Here are 5 tips to brighten your basement!
- Embrace an open floor plan. Spaciousness is your friend and will entice potential buyers.
- Get rid of the clutter. Do not let you basement become “where once useful objects go to die.”
- Use recessed lighting. It’s soft and inviting and track lights are so 1990’s.
- Incorporate mirrors. It’s not cheating, it’s enhancement.
- Maintain the look of the rest of the house so your basement doesn’t look like an afterthought.
Contact Castle Builds about a basement remodel today!