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Remodeling your basement yields an average ROI of about 70%, so you will typically get $700 back for every $1,000 spent. But not all remodels are created equal, so what options make the most sense?
Here’s some ideas to help you get the most out of your basement while you live in your home as well as when it’s time to move.
Keep It Clean
More than anything cleanliness is most important. In fact, a finished but minimal basement is often the most recommended option for the most return. Give the new owners a blank slate to create their own space.
Avoid Permanent Personalizations
While you live there, hey, go nuts. Paint the walls with your visions of space viking warlords riding dragons across a rainbow sea of kaleidoscope gumdrops – after all you can paint over that when you get ready to move. You might want to avoid more permanent changes like built-in bars, hot tubs, and other things that will potentially change the structure of the house and cause a remodeling nightmare for the new owner when they claim their dream home.
Wired and Plumbed
It’s one of the bigger things you can do but adding all the connections for your basement to easily become a media room, or having light plumbing added so you have an accessible bar sink or half-bath can really take your value for space over the top. Not everyone has this in the budget, but if you do it’s one of the upgrades that will almost make you reconsider selling.
Speaking of Paint
Even if you’re happy with the color of your walls in the basement it might not be a bad idea to give it a fresh coat – even if it’s just to touch up dings. Try to keep things neutral but don’t be afraid to follow up on current trends as well.
Improve the Lighting
One of the best things to invest a little time and money in is lighting. Adding a few lights, or half-windows can really brighten what can be an otherwise dark and confining basement space.
Still not sure? Need to sell and want to get the most value for your home?
Talk with a qualified REALTOR® to find out what the market is doing as well as to get great ideas on what you can do to maximize your returns.