High – End Basement Upgrades
When you want to add value to your home, adding insulation, drywall, and flooring to finish a basement is one of the best investments you can make. That being said, merely ‘finishing’ a basement almost isn’t enough anymore. Well, that’s not true – but homeowners are realizing how much more enjoyment and market price they are recouping when they convert the below grade portion of their home into a high end basement.
Is There Value in a High End Basement?
On the average basement remodel you can expect to recoup about $.75 on the dollar for everything you spend. This is actually pretty good in terms of home renovation projects. That being said, high end basements attract a special kind of buyer and real estate agents would have no problem adding 100% of the project costs into the market price – because of course they get a cut too!
Another thing to consider is that basements aren’t included in the base square footage calculation of the home. They are a separate category so any high end improvements you make to this area is basically making (a lot of) money out of nothing.
So, What Exactly is a High End Basement in Ontario?
A standard finished basement is ‘just a room’ but a high end basement has a distinct functionality. Some examples include theater rooms, basement bars or wine cellars, or even game rooms, sports themed areas, and personal gyms which could all fall under the distinction of a high end basement.
Obviously the main reason that you’d put a feature like this in your basement is for personal enjoyment. We’ll be honest, standard renovations such as a basement bedroom are going to be easier to sell down the line. That being said, these specialized basements often attract a unique type of buyer that is willing to pay more since a renovation they had planned down the line is already in place. High end basements can even be a selling point, “Should we go with blue shutter house or the wine cellar basement house?” Easy choice.
High End Basement Upgrades For Improved Quality of Living
Many of our clients tell us that any potential value earned at resale is just icing on the cake. The real reason they turn their basement into a high end luxury room is for personal enjoyment. The fulfillment of a lifelong dream of having a sauna in your home, for example.
These are some things you need to consider as you take the next steps in planning high end basement upgrades. If you plan on living in the property for awhile you’ll more than recoup your investment in personal enjoyment alone. If you end up selling soon, your real estate agent may give you a, “what were you thinking?”
A high end basement upgrade in Ontario gives you a relaxing place where you can unwind or entertain. Bottom line, they’re fun – and you can’t put a resale price on that. Give us a call for more details. See just how we can turn your musty, dark, room into the basement of your dreams.