How Much Value Does a Finished Basement Add to Your Home in the Twin Cities?
Remodeling your home interior is a great way to add value – in terms of both how much you enjoy the space and how much you can resell the home for. While home remodeling projects often focus on kitchens and bathrooms, there’s another space that it may be even more beneficial to upgrade: the basement.
If you have an unfinished basement in your home, finishing the space with high-end features is a great way to increase the value of your property. In the Twin Cities metro area, finished basements are in high demand, particularly if they include spaces such as a guest bedroom or home office. Continue reading to learn more about how finishing your basement can add value to your home.
Why Finishing Your Basement is a Good Investment
In some housing markets, finished basements are a luxury feature that few homes have. However, in the Twin Cities metro area, a finished basement is the norm, and something that most homebuyers will expect. A home with a high-end finished basement will be more competitive in the market.
Depending on the quality of the work and the amenities included, a finished basement can add up to $150 of value per square foot. Keep in mind that this is only true of finished basements with desirable features such as a full spare bedroom, a home gym or theater, or a wet bar. Basements that are only partially finished or have a more basic finish will add less value.
Maximizing the Value of a Finished Basement
Consider these key factors if you choose to hire a basement remodeling company in the Twin Cities to finish your basement. These things may have a significant impact on the value added by the project.
- Quality of Work
Finishing a basement is a challenging, multi-stage job that should only be completed by an experienced home interior remodeling company in the Twin Cities. It’s crucial to hire a reputable, experienced contractor that prioritizes quality work.
Your finished basement should feel finished; if it’s poorly insulated, badly designed, lacks any unique features, or otherwise misses the mark, then it won’t add much if any value to your home. For the best return on your investment, take the time to choose a basement remodeling contractor with a proven record of completing successful basement finishing projects.
- New Spaces Added
One of the best things about a basement finishing project is that there are so many different ways to transform this space. Some of the luxurious features you can add during a basement finishing and remodeling project in the Twin Cities include:
- A guest suite
- A home office
- A home gym
- A home theater or gaming room
- A wine cellar
- A sauna and/or indoor spa
- A wet bar
Any of these premium amenities can add a lot of value to your home and may even be major selling points. In the meantime, these spaces will add functionality to your finished basement, making the space more enjoyable for your family and guests.
- Code Compliance
It’s important for your finished basement to be up to the standards of local building codes. If your finished basement isn’t in compliance, it could actually reduce the value of your Twin Cities home rather than adding to it. Furthermore, a finished basement must meet building code standards to be counted as part of a home’s square footage during appraisals. Make sure that your basement finishing contractor obtains proper permits and is committed to performing work that’s up to code.
Get Started on Your Basement Finishing Project Today
Are you ready to increase the value and functionality of your home by finishing your basement? Connect with Excel Renovation today if you’re interested in working with us on a basement finishing and remodeling project in the Twin Cities metro area!
