Options For Your Basement Remodel

Turn Your Unfinished Space into a Place

Let’s talk about your unfinished space, a blank canvas to devise your own floor design. Like the common noun, your basement can be transformed for a person, place or thing. First, a person. Remodeling your basement will provide you with more living space for family, guests or tenants.  Next, a place. Depending upon the available square footage, your basement can be remodeled into a room for rent or a standalone Accessory Dwelling Unit. If square footage is an issue, think about adding an organized storage space. Last, a thing. Your newly remodeled basement can become lots of different things:  A home office, game room or children’s playroom, home theater, or even a den for entertaining.

Add Financial Value to Your Home

There are many great financial incentives for remodeling your basement.  Benefits for a person include having more space for dependent family members to live, or gaining rental income from a tenant. For a place, your newly remodeled basement will add value to your home. More livable square footage leads to a higher asking price when you decide to sell your home. As far as things go, updating your space to match your desires will improve your quality of living. Feel proud of your home.

Costs and Considerations

Before you remodel, it is important to consider the above three components.  Is your remodel to benefit a person, to add value to your place or provide you with an additional thing? Know what you want to gain from your remodel and plan out a strategy for achieving your goal.  Things to take into consideration:

How You Can Save Money

What is my available budget?

Are there any energy efficient upgrades I can make to my basement?

Does it make sense to hire a contractor or do it myself?

Maximizing Your Available Space

Is there enough headroom?

How much artificial lighting will I need to install?

How will I divide the space?

Is there an egress window or escape route?

Will the finished look of the basement be consistent with the rest of the house?

The Construction Process

Will I need any building codes, permits or legal permission?

Will I need to hire a contractor, electrician or plumber?

What building materials will I need?

How do I go about testing for radon?

Once you have taken into consideration the above questions and decide to go along with your remodel, Options Financial can help you achieve your goals by providing you with financial options for remodeling your basement.

How Options Financial Can Help

Many people feel as though moving is the only option for achieving the home value they desire.  If you love your location, there’s no need to move.  Through our Dream Home Renovation program, you can update your current property to match your desired home values. With the help of Options Financial, you can acquire the financing to renovate, remodel, repair, rebuild or simply update. Start a conversation with us today about your basement remodel options.

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