People tend to neglect their basements, so they turn damp, moldy, and unusable. But there are plenty of reasons why you’ll want to start looking for a qualified contractor for basement renovations in Toronto. Here’s why your basement should be your next home improvement project.
Increase property value
If you plan on selling the home a few years later, a finished basement will boost property values. Also, basement remodels often provide a big return on your investment, with some homeowners earning as much as a 100% return or more when they sell the house.
Add more space
If you have a big family or you need more room, transforming your basement with a remodel will get you an entire floor of usable space. You can put in a playroom for your kids, a workroom, home gym, or even a guest room for when friends and relatives come over.
Get rental income
Rent out a basement apartment. That will give you a monthly rental income, which you can use to offset the costs of the remodel. Make sure you talk to your contractor about that. Put in a separate entrance or exit, so your tenant can come and go to the apartment conveniently.
Create a storage space
If you have a lot of furniture that you seasonally rotate, use your basement for storage. You can do the same for the ton of books, old clothing, and other items you can’t bear to throw away. Finishing the basement will ensure that your belongings are protected from moisture and humidity.
Save energy
Lots of people lock up their basements to save on energy. But if the insulation leaks, that’s bad for your property in the long term. The damage could extend to other areas in your home. Create an energy-saving space by remodeling your basement.