Finishing up the basement is the most cost-effective home improvement project you can undertake as a homeowner. While you already have a ceiling, floor and walls, so that’s a massive chunk of your expenses already taken care of. Besides, the options are practically endless for what you can do in a basement finishing project.

Sure, an unfinished basement is useful too, but the most it can be is extra storage space – this doesn’t add much value to your home. On the other hand, a renovated basement can be a place to relax, work, play, entertain, cook or hold parties – these are just a few of the popular basement renovation ideas

There is absolutely no reason why you shouldn’t take on this remodelling project and plenty of reasons why you should. 

Let’s learn more!

 

Pros Of A Basement Finishing

Unfinished Basement

A finished basement is not just the perfect family space, but it also helps increase the value of your property in the long run. But those aren’t the only reasons why Canadians love finished basements.

We face almost six months of winters in most parts of Canada including Toronto, Markham, Mississauga, etc. – the other six months are spent battling even more extreme weather. Basements are a great place to spend time because of how cozy they are in winters and cool during summers; this also helps reduce your energy bills.

Turning the basement into a viable living space is also great for millennials desiring to return to their homes. With a third of Toronto’s young adults living with parents, it is time to ensure that existing houses can give them their personal spaces in the form of finished basements. 

Here are some more reasons to call in a basement renovation expert:

  • Usable Space For Everyone!

A dedicated family room is a perfect place for everyone to come together away from their busy lives. 

Think about it; wouldn’t it be nice to have a big room where you can hang out with your spouse, have a conversation with the kids and watch some Disney+ together? 

A finished basement would also make for a great home office – you could sound-proof it, install a split AC down there and tell the kids that it’s off-limits when you are working.

If you often host guests or family members from all over the country love to visit you, then adding an extra bedroom down there would be a great idea. Again, this could also be used by a nanny or a child coming back from college. 

  • Basements Make For Energy Efficient Homes

EnergyStar states that a well-insulated basement is second only to a well-insulated attic. A finished basement is well-insulated with the gaps around pipes, electrical lines etc. closed off the property.

While many homeowners don’t consider insulating the crawlspace and basement, it can certainly lower your energy costs and maximize your savings. 

  • Increase Your Home’s Value

Basement renovations in Toronto and surrounding areas are becoming increasingly popular because now is a great time to invest in your home.

Newly finished basements can add some serious value to your property by adding extra space, thus potentially increasing your returns when you sell it off. Research shows that, on average, finishing a basement will give you a profit of 50% – 75% of your investment. 

  • Finished Basements Make For Profitable Income Properties

Whether it’s a live-in property or an investment that you want to flip quickly, finishing the basement can allow you to add a rental unit to it. Of course, you will have to get approval from the zoning department in your town, but chances are that you will get the permission if other homes in your area also have finished basements. 

If you are planning on turning it into a living space, it will have to conform to the local fire codes and you’ll have to build an additional parking space for each rental unit. 

As your local basement design and construction experts, we can help you understand the requirements for finishing the perfect rental basement apartment.  

Even if you aren’t planning to sell your home in the short term, at some point you may need to unload the property – that’s when a finished basement will help you ask for top dollar from buyers. Until then, you can take advantage of the positive cash flow generated from turning your home into a rental property. 

 

Are You Ready For Your Basement Renovation?

Beautiful BasementIt’s tempting to DIY basement renovation instead of hiring a basement renovation contractor – but doing the former could cost you a lot of money, especially if you don’t have knowledge of the various building codes.

Additionally, only a qualified contractor can bring your basement renovation ideas to life. They understand how to install electricity, lighting and plumbing while waterproofing and soundproofing the area to perfection.

Here at Reno Compass, we take the size of your basement and the scope of your project into consideration before designing a space that you will love. You might move in there yourself and give the upstairs bedroom to the guests! 

In Conclusion

Avoid the headache and frustration that usually results from working with amateur technicians and DIYing your way through a renovation. Give us a call.

When you choose Reno Compass for basement renovation in Toronto, you will get the benefit of our highly-competitive pricing and financing solutions. We also deploy the most elegant design elements and quality craftsmanship for all our projects to ensure that you’ve got a winning deal at your hands.

Ready to become a part of our unique building process that will give you the finished basement of your dreams?

Getting started is as easy as giving us a call at +1 905-597-8566, so get in touch today and let’s begin finishing your basement.