ArticlesIs a Basement Renovation Worth It?

November 26, 2021
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With winter (and the Calgary winter weather that comes with it) fast approaching, now’s a great time to think about how you can better use your indoor space. Home and kitchen renovations can re-configure rooms to make them feel larger, but you still might not get enough room out of it. That’s where a basement renovation can come in handy – especially if you weren’t fully using your basement in the first place.

For a lot of people basements are an afterthought. Typically they’re used for storage, laundry, and house your furnace and hot water tank. Some basements might be partially finished with a family or rec room. Usually they’re on the colder side, have concrete floors, and might not have a lot of natural light.

Is a Basement Renovation Worth It?

A basement renovation can take that previously unused (or underutilized) space and turn it into additional living space. It’s usually a lot cheaper to finish or update a basement than it is to build an addition of similar size, too. If you’re thinking of moving for more room but would rather stay in your current home, a home renovation is a great way to make your existing space work for you.

In terms of resale value, a finished basement is usually worth a smaller amount per square foot than when you renovate a main level. Still, they can add to your home’s value, especially if the basement renovation is done well.

Some other common reasons people finish their basement is to add extra bedrooms when more kids come along, to create cozy rec rooms or movie theatre rooms, home office space, playrooms, space for the grandkids, or even rental suites.

Renovation basement family room and play room

Above: A basement renovation we completed that includes a family room and play area for the kids.

How Much Living Space Can a Basement Renovation Add?

It depends on your home’s square footage, the existing floor plan (including stair placement, where appliance sit, etc.), and what your storage needs are. But when you think about the square footage of each floor in your home, then subtract the wasted space and room you need for laundry or mechanical rooms, you can roughly estimate how much living area your finished basement will add.

Types of rooms you can put in your basement:

  • Bedrooms (an egress window is required)
  • Home office
  • Family/rec room
  • Playroom
  • Laundry facilities
  • Storage room
  • Craft and hobby spaces
  • Additional bathroom
  • Space for guests
  • Wet bars and other entertaining areas
  • Rental suites (can even include a kitchen)
  • And more!

If you’re short on windows or don’t have rough-ins for plumbing it will add a bit to your renovation cost, but they’re not impossible to overcome. So don’t let that be the final say if you want something specific for your basement renovation!

What Can Artisan Kitchens & Renovations Do For You?

Our design team and contractors can work with you to solve problems and utilize your space better. Whether it’s an update to an existing basement or completing an unfinished basement, we can help you create a practical and luxurious space you want to spend time in. Learn more about our process here.

 

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