How Renovating Your Basement Can Add A Value to Your Property
3 min read
Are you one of those guys who consider their basement as a forgotten place and overlook it? If yes, you must be shocked to know that a perfect basement can add value to your property.
However, you can turn your basement into a fun living space with a renovation. So if you also want to add usable space in your house, this article will show you how you can add value to your property with basement renovation Toronto.
1. No need for high-end materials
Most of the homeowners think that a basement renovation can be an expensive idea. So you can use a material that fits in your budget while having basement renovation.
If your basement is having any moisture issue, you can use hardwood material to wrap up the problems.
So we can say that if you want to save some money, you can take an in-depth look at the quality of the material you are using in the basement.
Make sure that the material you use in basement match with the rest of your house. Moreover, after a renovation, your basement will become more functional with heat, light and flooring.
2. Do-it-yourself
Do you believe in your do-it-yourself skills? If yes, basement renovation is a simple task that you can do-it-yourself. However, you can save a lot of money if you are renovating your basement by yourself.
If your basement has some severe issues like plumbing and electrical work, you have to call the professional to do so. But if you can handle these severe problems by yourself, go on.
Many other things come into the basement renovation project such as flooring, painting and putting up drywall. So if you can do all these things by yourself, it will save a lot of money for you.
3. Additional bedroom
A basement renovation project can help to increase the size of your house. You can turn your dull basement into a new bedroom of your home.
Most of the homeowners considered their basement as a way to exit the property. However, you can add windows or a closet in your basement that supposed to be a bedroom.
Adding these ways of exit will make your house more functional. However, the forms of egress can break down the walls of the property and increase your house’s living space.
So we can say that having bathroom renovation Toronto project can increase the property value of your house. It will attract a lot of buyers to your home.
4. Bathroom addition
Having a basement renovation can help you to add a bathroom in your basement. However, it is a better option to have two bathrooms in your house instead of one.
You must know that adding a bathroom can be expensive than putting drywall. You have to call a plumber to do the water work and replace the fixtures.
But if you can do the water by yourself, it will save you a lot of money. Moreover, tiling your bathroom can also put some burden in your pocket.
But you need to understand that turning your basement into a bathroom is an invaluable investment that can increase your property’s value.
5. Great ROI
Not only renovating your basement will add valuable living space to your house, but it also has a great return on investment.
A study shows that remodelling your basement can give you 70-75% of your investment return.
Suppose you are spending $2000 in your basement renovation project, you will get $1400 of your investment return.
6. Income property
You can turn your dull looking basement into an ample investment space with a basement renovation. In other words, we can say that you can convert your basement into a rental unit.
However, this rental unit can attract a lot of buyers who are looking to decrease their debts. The rent coming from the basement will let you pay off your debts more efficiently.
On the other hand, basement renovation Toronto project can make a perfect flow of your property.
Lastly, we can say that adding a rental unit can create a specific income for you from which you can pay off all your debts.
Wrapping up
We hope you understand how a basement renovation Toronto project can increase your house’s property value. However, renovating your basement has a great return on investment and can add valuable living space to your home as well.
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