Most people who finish their basement do so for the enjoyment of themselves or their family.

They might need an extra bedroom or a mother-in-law suite. Perhaps a home office or a playroom for the kids is the goal. Or maybe they are cramped and just need more livable space.

Should the time ever come to sell, however, they will find a nice bonus. Finishing a basement ranks as one of the best ways to add value to your home.

Realtors Say Return On Investment High

According to the National Association of Realtors’ 2022 remodeling impact report, converting a basement into living space gives the fourth best return on investment of any of the tracked remodeling projects. Simply put, finished basements raise home values.

Considering the top three were refinishing wood floors, adding wood floors and improving insulation, finishing a basement ranks atop the list of major home renovation projects.

Realtors anticipate an 86% return on investment for sellers who have finished their basements. That is also up compared to past years. The 2019 and 2017 reports ranked it at 64% and 63% respectively.

Basically, more livable space will make a house more attractive to potential buyers.

Basement Finishing Adds Enjoyment as Well

The same report also discussed the joy that homeowners got from the renovations. Of those who finished their basements, 83% report feeling a greater desire to be home since completing the project.

The reasons are clear. If your house is beginning to feel cramped, the added space will allow you to spread out. More living space, especially when you have helped customize it to its intended use, can make your home a more enjoyable place to be as well as increasing your home’s value.

Let Vermillion Builders Finish Your Basement

At Vermillion Builders, we don’t believe in promising the world. You need a contractor who will be upfront about what is possible and what projects will cost – a partner you can trust. If you are interested in remodeling or finishing your basement contact us and we will set up a call to discuss your project.