Unless you are in the business of flipping homes, chances are if you are finishing your basement, you are doing so for your and your family’s enjoyment.
However, it is good to know that if the time to sell ever does come, you will see most of the project cost recouped in a higher sale price.
The National Association of Realtors releases a remodeling impact report every two or three years.
In these, the association uses statistics from home sales to estimate the percent return on investment of different remodeling projects.
For a finished basement, 86% of the cost would be returned in the form of a higher sale price.
That figure ranks fourth, behind only refinishing wood floors, adding wood floors, and improving insulation. Of the significant remodeling projects, finishing your basement ranks No. 1.
The figure is also rising. The two previous reports, in 2019 and 2017, showed a return on investment of 63-64%.
The report from the Realtors Association also surveyed homeowners on the amount of joy they thought different remodeling projects added to their lives.
A whopping 83% experienced a greater desire to be home since finishing their basement.
It makes sense. A finished basement adds more living space if your house is feeling cramped.
They can also be customized to your needs. You can create a playroom, office, home gym, or cozy family room.
Are you interested in finishing your basement? If so, Midwest Builders is an experienced basement remodeling contractor, and our technicians can offer advice based on years of experience.
Contact us today for a free estimate.
Also, read some of our tips for finishing your basement.
