If you have an unfinished basement, then you may struggle with the decision about whether or not to remodel. Of course, on the one hand, having a beautifully finished basement can add comfort and value to your home, but is it worth the often extensive process (and cost)? This review discusses the pros and cons of an unfinished basement to help you decide if finishing your basement is worth the effort and cost.
The Advantages Of An Unfinished Basement
The advantages to leaving your basement unfinished (or purchasing a home with an unfinished basement) are that you save time and money and reduce the risk of making matters worse by attempting to finish the basement yourself. An unfinished basement also provides additional storage space as well.
Finishing Your Basement Costs Time And Money
Many leave their basement unfinished due to fears of high costs. While finishing your basement is not cheap, it does largely pay for itself with home resale value. However, for those who prefer to leave their basement unfinished and keep money in their pocket in the short-term, then a home remodel may not be the best choice.
An Improper Basement Finish Can Be Disastrous
Perhaps the biggest mistake one can make is attempting a basement finish or remodel by themselves. DIY basement finishes rarely go smoothly, and most homeowners are not able to deal with the range of obstacles that can present themselves along the way. Therefore, it is best to work with a basement remodeling contractor if you do decide to finish your home basement.
Homes With Unfinished Basements Are More Affordable
If you are a home buyer, then you may prefer an unfinished basement as it is more affordable, particularly if you have the desire to create your own basement space at a later time. For home buyers, an unfinished basement provides the opportunity to create whatever you desire, such as a home theatre, additional bedrooms, a game room, a bar or a downstairs living room. While you can renovate a finished basement as well, it is often more affordable (and easier) to work from scratch with an unfinished basement, especially if the home is more affordable as a result.
The Disadvantages Of An Unfinished Basement
The disadvantages of an unfinished basement is wasted potential, a lack of comfort in your home and reduced home value. Often, finishing your basement is worth it from a cost, comfort and convenience perspective, adding practical space and substantially increasing the appraised value and appeal of your home.
Wasted Square Footage
You can never have too much space inside your home, and the extra space you can gain by finishing your basement is incredibly valuable. Whether you have children and want to add an extra bedroom or play area or the kids have finally moved out and you want to use your savings on a personal area for yourself, using unfinished basement space is a clever way to transform your home into something that is far more fun and practical for you and your family.
Limits The Comfort Of Your Home
A crowded home is often far less comfortable. In addition, simply having a cozy basement area can make being inside your home much warmer and more inviting. You can turn the basement area into whatever you desire (see below) and create the perfect place to go and escape after a long and hard day. On the other hand, there is not the added level of privacy if your basement is unfinished as it is typically used for storage, rather than for spending time.
Reduces Your Home Value
As mentioned, a finished home basement adds home value. Of course, the opposite is true as well. Leaving your home basement unfinished limits your home’s appraised value and overall appeal to prospective buyers. Often, the majority of the cost for finishing your basement is returned to you in added home value once you sell your home.
Useful Ideas For A Finished Home Basement
The possibilities of a finished home basement are endless. From adding a stylish guest bedroom to creating a large homework area, there are many fun ideas you can choose from. Several ideas to consider for your finished basement include:
- Add a studio apartment
- Add bedrooms for your kids
- Create your own wine bar
- Build an extra living room
- Install a home office
Consider your needs and preferences before deciding on what to do with your unfinished basement area, and have fun with whatever project you choose.
Are You Ready To Finish Your Home Basement?
If you are interested in finishing your basement in a cost-effective manner and with high-quality results, then call the professionals at Monumental Contractors today. We are glad to answer your questions about the pros and cons of finishing your basement to allow you to make an educated and informed decision.