Should I Finish My Basement? Points to Ponder Before Starting Your Basement Remodel
Posted Nov 10, 2008 @ 11:20 am, Viewed by 997 Visitors, Read 1020 Times.A finished basement can be a nice investment for your St. Johns County property, depending on your choices. That dingy, dark abyss filled with boxes, Christmas decorations and baby items (even though your baby is 18 years old) can be put to good use.
Creating usable living space can bode well for you in terms of resale value on your St. Johns County property, and the enjoyment and use you can get out of the extra space is certainly always a plus for families.
Before you begin your basement remodel, however, you should first contact a local real estate agent to get an accurate assessment on your home; both with an unfinished basement and with a finished basement. If finishing your basement increases the value of your home by at least as much as you plan on putting into the remodel, then consider yourself ahead of the game. Otherwise, you’ll need to weigh your options.
If you plan on staying in your home for at least a few years, chances are that you’ll get your money out of your basement remodel. If you plan on moving sooner, you may want to get a qualified realtor’s opinion before you decide to finish your basement.
Next, you’ll need to call in the services of at least three contractors who have experience in basement remodeling. Get at least three, written quotes and research your options and challenges regarding your basement space. Many basements have moisture issues, as well as foundation issues that must be addressed before a remodel can begin.
Finally, take into consideration the rest of your home before making choices regarding your basement remodel. You’ll want to continue the finishes and trends found throughout the rest of your home into your basement area to make sure it remains a cohesive part of your home. For example, an intricately finished basement, complete with woodwork and expense finishes, will look out of place – and will likely not bring a return on your investment – if the rest of your home does not reflect that style.
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Social Bookmarking2 Responses to “Should I Finish My Basement? Points to Ponder Before Starting Your Basement Remodel”
madlina
Hi,
Thanks for writing such an interesting article. It’s really good to know about the real estate and home decoration and renovation in detail. Everybody's doing it. Remodeling their homes that is, or so it would seem. Even though the housing market may be in a downtrend, Jacksonville remodeling continues to thrive as homeowners are staying put and deciding to remodel and renovate their homes as opposed to moving. Some Jacksonville remodeling projects are becoming a necessity as the average age of homes in America reach just over 30 years old. Regardless the age of their homes, Americans are refurbishing, remodeling and adding on in larger numbers than ever experienced in the past. Jacksonville remodeling is a big part of over 25 million U.S. homeowners undertaking some sort of home improvement project annually. Large remodeling projects from complete kitchen remodeling to the addition of several rooms, make up a major part of the home improvement dollar invested by homeowners.
Thanks,
- <Madlina Francis>
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Great post.
Let me add this:
Recently released Remodeling Magazine's Cost vs. Value report, shows that basement remodels are still among the investments with the best return in terms of property sales value.
You can recoup at least 72% of the cost when you sell the property.
Add to that the fact that you will have extra living space, sometimes a whole floor's worth of it for about 50% percent of the cost of building an addition, and the savings of about in utility bills, because insulated and finished basements make your home more energy efficient, and you will see that basement remodel, done right, more than pays for itself.