If you’re looking to update your home, you are most certainly not alone. As a matter of fact, home renovations are so commonplace that up to two thirds of all people found all throughout the United States are planning at least one for the near future. For a great many people, updating the home is beneficial for a whole host of reasons, from simply updating it to enjoy the space more to getting it ready to be put up on the market for sale (as newly updated homes are much more likely to go for more money than an older home that has not had recent updates, especially since new homes are currently so sought after).
But deciding what room to renovate can be difficult. For many people, a kitchen or bathroom renovation is a must, but basement renovations are also growing in popularity. After all, there are a great many benefits to conducting a basement renovation on your home. For one thing, you can increase the usable space in your home, which is ideal if your home is on the smaller side. For while the typical home of today is now double the size of the typical American home from the 1950s, this does not mean that all homes reach the average 2,500 square feet. Some are much smaller, but have basements that can be renovated into functional living spaces.
If you’re looking to save some money but get more space in your home, a basement remodel is very much the way to go. This is due to the fact that a basement remodel is going to be much less intensive and expensive than the purchase of a brand new home with more space already. As a matter of fact, going through the process of a basement remodel instead is actually something that is likely to save you up to 80%. And the new living space that a basement remodel gives you can be used for a great array of different things.
For instance, you might use your basement remodel to create a basement family room. You might also decide to incorporate some more fancy items, like that of the wet bar or even a fireplace. Of course, your basement remodel can transform your unfinished basement into a fully finished bedroom as well. For those who have more family members than the house in question can currently hold, such a basement remodel is likely to be more than ideal. And what teenager doesn’t love the idea of having a basement bedroom that allows them a bit more privacy and seclusion away from the rest of their family? For a great many teenagers, this is most certainly nothing short of a dream come true, to say the very least.
Of course, turning your basement into a full basement apartment through the course of a basement remodel is something that many people also decide to do. After all, choosing to rent out your basement apartment is something that can be quite lucrative indeed. The data gathered on the subject more than backs this up, showing that up to 75% of the monthly mortgage for your home can be covered simply through renting out your basement. Therefore, renting out your basement once a basement remodel has been conducted is something that is likely to be well worth it indeed.
Of course, going through the process of a basement remodel is also quite ideal if you are looking to sell your home. The return on investment for the average basement remodel is a high one, currently sitting at, on average, just over 77%. And for many a prospective home buyer, a recent basement remodel is likely to be quite compelling indeed when looking at a home. At the end of the day, investing money in your basement remodel is something that is highly likely to pay off at the end of the day. Whether or not you choose to sell your home, there is nearly no doubt in the slightest that a basement remodel will benefit not just you, but everyone else who lives in your home as well. Basement remodeling projects are growing very popular.