Does a Basement Renovation Add Value to a Home?

With Calgary's housing market slow at the moment, should homeowners move or renovate? Will finishing or updating your basement change the home's value?

Instead of moving, why not finish your basement? Basement development adds more useable space for you and your family to enjoy your home. Add a bathroom, bedroom, workspace/craft room, entertainment area for you or the kids. If you love your community - schools, businesses, neighbours, adding a finished living space is beneficial.

Realtors in Calgary state "40% of the cost to finish a basement - This is a great way to gain added living space without building a costly addition. If the basement has an access door to the outdoors, the project becomes more valuable". Of course, adding value will depend on other factors. For example, was there too little spent on basement development, or, was there too much spent to develop or renovate the basement? There is no guarantee the financial cost will be recovered. A finished basement may attract more interest should you ever decide to sell your home. Working with a professional licensed Calgary basement renovation company to develop plans, quote on cost, is very important.

Sometimes it's good to hear from the professionals. A few professionals you may have heard of are a good sources for opinions on the question of basement renovation value are:

• HGTV - "Finished Basements Add Space and Home Value"
• Mike Holmes (National Post) - "Mike Holmes: Finished basements raise house values"
• The Nest - From a mortgagor perspective

Once the decision to finish your  basement has been made, choosing a reputable company, like Econo Basements, to assist with planning and provide a cost quote is the next step. You want to avoid mistakes and have a professional company behind you. Econo Basements:

• Is a licensed, bonded, WCB, insured company in Calgary area. BBB approved with A+ rating
• "Design is Everything" - Econo Basements works with you to plan start to finish
• "Get Approvals with $0 Down" - financing arrangements are available
• "First Year Inspection" - After the first year, the project is inspected.
• "We stand firmly behind what we build" - warranty on all work - labour and materials

It is also important you check out reviews and testimonials for your chosen contractor and review work completed for other clients. Econo Basements is ready to do a free consultation.

With a plan in place to do a basement development, the fun begins! What style will you choose? A family theatre, kids playroom, room for grandparents to visit, mother-in-law suite, or workout room? Maybe a rental property? Your Calgary basement renovation company will work with you for the perfect solution.