Unused basement space tends to get filled with old and unwanted items and unfortunately, this is allowing for precious square footage to go to waste. The basement is the perfect space to be transformed into a warm and welcoming area for family and friends. Anyone can convert a boring storage space into a liveable area with the help of a wide variety of basement finishing ideas to choose from. With appropriate planning and excellent design techniques, the basement can be just as cosy, comfy and inviting as any other room. And it seems like now is the right time for Canadians to start giving their residences a makeover, considering renovation projects in the country have reached a massive $72 billion.
The 2018 HOUZZ & HOME which surveyed over 14,200 Canadian homeowners, has revealed that 2017 was the year people started renovating their homes and the main reason was because they always wanted to do it and they finally have found the time to do so (38%). Looking at the future, the top planned activities Canadian homeowners have for 2018 and beyond involve renovating (50%), decorating (47%) and repairing (29%). Regarding professionals hired, general contractors (24%) and builders (9%) were at first on the list when kicking off a reno project. When it comes to home maintenance or remodelling however, basement renovations come last on homeowners’ list of things they frequently delay work on.
Eliminating the cost and inconvenience aspects, a finished basement does offer a great return on investment of 60 to 75% should and if the homeowner decides to sell at some point. Easily put, if $10,000 are invested in the project, then the value of the property is expected to get bumped by at least $7,000. And if this is not motivation enough to start calling a basement renovation company, there are other aspects equally attractive.
Upgraded lifestyles and more convenience are also very good reasons. Say one of the people living in the house is very keen on arts and crafts. What is usually a messy hobby can benefit from a space where creativity can be unleashed and encouraged. It can just as well serve as an exhibition for that. For people who are into being physically active, turning a basement into a personal gym might just be the way to go. Besides the convenience factor of not having to go to the local gym for exercise, one can also save money on memberships and commute. And these are just two of the endless list of things that a basement could be, from home cinema, wine cellar, play room or just an extra room to welcome in laws and out of town friends.
Before going ahead with remodelling the basement, homeowners should consider the future use of the room short and long term. By keeping a flexible space, the basement can end up having a different use as time goes by.