Dry basements can greatly increase home value. For some homeowners, a basement is simply a place for storage and utilities. In other houses, a basement is an extension of the home’s living space – whether it is used as a playroom, an office, an extra bedroom, a home gym, or all of the above.
Whatever a basement is used for in a home, if it is properly maintained, it can increase home value significantly. The key to a using a basement to increase home value, however, is making sure it is in good condition. It must be dry. A basement will actually decrease home value if it shows signs of neglect – especially moisture, dampness, or mold (which, as we noted in a past blog, can be a dangerous hazard for health.)
So if you are thinking about selling your house, the first place to focus is your basement. You can increase home value with either a finished basement, an unfinished basement, or a combination of both.
Finished Basements for Living Space
According to recent reports from HGTV and Remodeling magazine, it costs just over $61,000 on average to fully remodel a basement. However, the ROI on a basement remodel is more than 70%, making it one of the most valuable investments a homeowner can make in a house.
In this report, they list 13 tips for making the most out of a basement remodel so that a home has the most value when it comes time for re-sale. High on this list, all the way at number three, is making sure the basement level of a home shows no signs of moisture or water damage before the remodel begins. This includes foundation cracks, water seepage, and humidity concerns. They recommend solving these problems with a French drain, sump pump, or whatever is needed to resolve moisture issues.
Unfinished Basements for Storage and Utilities
If your basement is currently used only for storage and utilities, it is still important to maintain it properly. Even unfinished, well-maintained (and organized) basements increase home value. Why? The answer is simple. Homeowners need a dry place for storage, laundry, or perhaps a workshop. If the basement is large enough, a potential buyer of the home may decide to remodel it eventually.
Another report from HGTV on expert tips for increasing home value advises to keep up with regular home maintenance and repairs and to have the home inspected by a professional before you put it on the market. According to the report, a professional can find small problems that you don’t normally see – such as hidden water leaks – and solve them before they become big, expensive problems.
At Affordable Waterproofing, we offer free basement inspections. If you are thinking about selling your house, and you would like your home’s finished or unfinished basement inspected before you put place it in the real estate market, contact us.
We would be happy to inspect your basement and provide a complimentary quote for any waterproofing improvements that can increase your home’s value.