When you decide to finish a basement there is more to consider than just the fun space for that pool table you have always wanted. There is a value in the other rooms that you can add as well that will support the investment.
1. Additional bedroom
When you add a bedroom to a house then you are immediately creating value. The investment of adding the egress window and designating framing and drywall for that separate room is worth it especially when you are already framing and finishing the other areas in the basement. It is a great selling feature to be able to market this area as a “junior or guest suite.”
2. Additional bathroom
Anytime we are finishing a basement we also add a bathroom. This is a necessity especially when you are adding a bedroom. Can you imagine having to go trek up to the main floor to use a restroom in the middle of the night? The good news is that this bathroom can be a budget friendly version by including a sink, shower and toilet rather than a full bath. I also like to use this space for a fun graphic tile or dark wall color to mix up the design amongst the bathroom spaces.
3. Add space for entertaining
Aside from the lounging TV areas that you will want to have in the lower level, if the layout allows, you may want to segment other spaces for use. A couple of my favorites include a game table area where I install a high top bar table and a couple of stools. To make the most of all the space in the lower level I have been installing a type of mini bar area. Since I know many basement areas may be used by kids I’ve been including a mini fridge which can easily be stocked with sparkling waters and sodas along with a counter, some open shelves and a couple of cabinets for game storage.
4. Laundry area
If you have to take on this chore I believe the space should be as accommodating as possible. By installing flooring (usually a rolled vinyl in a neutral pattern), a sink cabinet and maybe some shelving you can create a laundry room that is not only functional but isn’t creepy. A bonus I like to add if space allows is a counter for sorting and folding.
While you always need to be mindful of the budget for your flip I have found that the cost to finish the basement while the rest of the house is being renovated is 30-40 percent lower than if a homeowner was to have the space finished on their own. The added convenience for a homebuyer of a move in ready lower level with the added details is well worth considering.
Want to buy a property and renovate it?
I have a freebie checklist that will help you — 8 Things I look for When Purchasing a Home. Just click here to download it.
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