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Building a bar in the basement will likely add value to your home, although it’s unlikely that you’ll see a significant return on investment (ROI) unless you plan on using the space for you and your guests. If you think you’ll use the area frequently, though, it’s probably worth the investment, and you should see a bump in value if or when you sell your property.
Renovations that add functionality or more comfortable floor space generally add the most value when remodeling your home. Attic or basement finishing can add floor space without altering the home's structure, saving you renovation money while adding valuable space. Smaller improvements, such as installing smart-home components or replacing entry doors and windows, also experience high ROIs.
Adding a bathroom to your basement can increase your home value since homes with multiple bathrooms sell for more. The return on investment (ROI) for a basement bathroom is 50% to 75%. The actual return varies with your home and location. Adding a half bath to your home increases the value by 2.9% while finishing a basement increases the home value by 6.6%.
Unless you have extensive experience in construction work, remodeling a basement is best left to a professional. There are several tasks associated with this project that require exact precision, including:
Replacing insulation
Replacing carpet or other flooring
Adding heating and cooling
Adjusting or adding walls and doors
Altering or adding plumbing elements
If any of these elements is done incorrectly, it could severely impact the quality of your basement remodel and be dangerous. Changing a basement often comes with code safety requirements, like egress windows and proper ventilation. Therefore, leaving it up to a professional is often the best decision.
A finished basement does not always count as square footage, as this varies by state regulations. In areas that allow below-grade spaces to be included in a home's official square footage, the basement must typically meet certain conditions. These conditions often include having a functional egress and being a livable space with flooring, finished walls, and temperature control. To be certain, contact your local assessor to confirm your area's specific policies regarding basement square footage.
The Houck, AZ homeowners’ guide to basement remodels
From average costs to expert advice, get all the answers you need to get your job done.
An unfinished basement has a lot of potential for a family room or guest suite. So how much does it cost to finish a basement? Read on for all cost factors.
Hiring a bad basement remodeler can wreak havoc on the look and longevity of your unfinished space. Here are red flags to look for as you vet basement contractors.
