In many homes, the basement is often a neglected area that serves as a dark and oversized storage closet. From old garden furniture and last year’s Christmas decorations to exercise equipment, your basement might help to keep your home clutter-free, but is it living up to its full potential?
Most basements are under-utilized areas that humbly disguise the prime piece of real estate below their owners’ feet. If you are looking to enlarge your living space or add another functional area to your home making better use of your basement could be the answer.
Converting the basement of your home into a usable living space requires digging beneath the ground through a process known as basement underpinning. As part of this work, the longevity and health of your home can also be improved. Read on to learn about some of the benefits of converting your basement through basement underpinning.
1. Extra Living Space
Whether you have a growing family to accommodate or would like your own home music studio, converting your basement into an additional space increases the utility of your home and saves you from having to move to another one. From game rooms and home gyms to swimming pools and entertainment areas, a basement conversion gives you the chance to expand your living space and create an area customized to your preference. Other ideas for a basement conversion include:
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2. Improve Your Home Health
Basements are known to be dark, dingy and damp places making them ideal breeding grounds for mold and fungi. Many basements contain excess moisture which causes the musty smell produced by mold and mildew and which can contribute to allergic reactions and respiratory problems for householders.
Having a space in your home that is potentially causing harm to your health by polluting your indoor environment can be a cause for concern. By renovating your basement and making it more liveable you can address these concerns. It will also allow you to deal with matters that can affect the structural integrity of your property such as cracks, leaks and pests.
3. Return on Investment
On average, a completed basement conversion in the United States gives homeowners a return of 70% to 75% of their investment. This translates to an increase in property value of $7,000 to 7,500 for every $10,000 spent.
4. Rental Income
By converting your basement into a livable space with all the facilities required for a basement apartment also known as an accessory dwelling unit (ADU), you can generate an extra income stream through renting it out to tenants. Such apartments are built with separate entrances and contain their own self-contained kitchen and bathroom facilities allowing you to rent out part of your home without noticing someone else is there.
Having a revenue-producing asset just below your feet which you can easily access in case of emergencies or tenant issues is a convenience many landlords would cherish.
With all of the benefits outlined in this article, perhaps it's time you consider basement underpinning for your home.
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