If you’re thinking about remodeling your basement, the first question to ask is: How much does it cost to remodel a basement? The average cost of a basement remodel in Georgia runs between $6,500 and $30,000.
That’s a massive range! And we understand if those numbers are more confusing than clarifying. So, let’s dig a little deeper into how much a basement remodel costs.
Basement Finishing vs. Remodeling
If you’re looking to add space and value to your home, adding a finished basement is one of the best ways to do it. You’ll find that finished basements are not only practical but also beautiful. It’s easy to see why they’re such a great investment for homeowners on the market!
But how much value does a finished basement actually add? Here are the facts to keep in mind when thinking about the value of a finished basement.
First, Not all Value Is Monetary
Does finishing a basement increase home value? Absolutely. But unless you are looking to sell in the very near future, this shouldn’t be the driving factor in your project. Instead, it should be adding value to your life.
Before you jump into your finishing project, ask yourself how your plans are going to make your life easier or give you more enjoyment when at home. Make certain they will add value to your life in addition to boosting that of your home.
Second, Look at Return on Investment
Too many homeowners approach this by asking how much value does a finished basement adds. This is fine if you are looking to understand the overall value of your home were it to go to market in the next several months. But what most homeowners want to know is if their investment in finishing their basement is going to see a return that makes it worth it.
Very few home projects will deliver a 100 percent or greater return on investment, so don’t expect those kinds of numbers. However, finishing your basement gets closer than most home improvement efforts. In most cases, you should see somewhere between 75 and 80 percent return on investment.
In general, simpler finishing projects will see a greater return on investment than more lavish ones. However, those projects tend to offer more of that non-monetary value. So, don’t make your decisions purely based on how much finishing a basement increases value.
If you’re looking to increase the value of your home, basement finishing in Cumming, GA can be an excellent way to do so. It’s also easier than many people think; with the right design and construction team, transforming unused space into something functional is possible for anyone. We would love to chat about how we can help make this happen for you! Contact us today if you want more information on finishing or renovating your basement.
Still undecided? Read: Is Finishing Your Basement Worth It?