A basement is the foundation of the home, and for some reason or another, we seem to neglect this part of the house the most when it
comes to renovation and maintenance. Your basement should be a place you can enjoy, not one that you are afraid to enter. Think of an unfinished basement as a blank canvas, and the possibilities are endless. Toronto basement renovations are becoming increasingly popular, especially to those looking to buy a home and increase its potential and value. Whether you simply want to ensure that the basement of your home is well maintained, or you wish to turn your basement into a relaxation and/or entertainment area, renovating your home can yield numerous benefits.
1. A Blank Canvas
Adding a bedroom, playroom, or art room to the ground or top levels of your home can be risky business, especially if structural modification is required. When thinking about your basement renovation, you can let your creative mind run wild without compromising the structure and efficiency of other areas in your home. Your basement provides the open space and supported structure to allow flexibility of design in order to maximize its potential to suit your needs. You can create something wide open and opulent or more modest and comfortable with purpose-built rooms and areas, depending on your intended use and budget.
2. The Resale Value
Not everyone plans to buy another home, but in the event that you one day desire or need to move, a nicely renovated basement is a high selling point. Beyond making your house more attractive to potential buyers, a basement renovation has a good monetary rate of return at the time of sale and can give your home a competitive resale advantage, which is especially important in a “slow” time of year or in a buyers market.
3. The Best Initial Value
When considering cost vs. value, no other space expansion or renovation project is as cost efficient. Why? Because most expansion projects require building or modifying the infrastructure, and that can greatly increase costs and the ability to obtain permits for the work to be done. With a basement renovation, the structure is normally in tact and sound, so that the owner can proceed directly to their detailed “wants” list to create the appropriate atmosphere and feel for their purpose, without incurring initial basic and fundamental expenses.
4. Space and Order
Most basements are neglected caves with collections of all our seldom used or long-forgotten belongings, boxes or magazines stacked everywhere; clutter against various walls and walkways; in other words, a hoarders delight. Renovating your basement allows the opportunity to define and maximize storage space to keep everything well organized and available for use. Instead of tripping over junk and pushing cobwebs and spiders out of the way as you hit your head on a lone light bulb dangling from a swinging socket, your renovated basement can utilize the right shelving, storage and lighting options to make the area efficient and inviting.
Not all basement renovations are practical, but selecting the right renovation ideas come with practical benefits and positive return on your investment. As you move forward, make sure that you choose a basement finishing contractor that is accredited, insured and honest. Get several quotes and do your homework and research to find the right contractor, and check their references and their work to ensure you are using a well established business that can deliver the goods.
Contract details should include costs, materials, timelines and a guarantee of satisfaction. It’s a big decision and for a brief time, can be a big mess but don’t be intimidated! With proper research and attention to detail, you can be well on your way to improving your living space, maximizing the value of your house and opening up a brand new area of your home to create new memories.