It’s time for another Diaries of a Contractor! This time Mario shares about a recent basement remodel we completed. We took an unfinished basement that was being used for storage and created a beautiful living space – including a living room and kitchen area! Let’s take a look at the design the homeowner’s goal and what we did to help accomplish that!
The Goal
The homeowner came to us with the goal to transform their basement space to add square footage to their home with the intention to increase the value of the home as well as to have more space to entertain.
The Project
This particular homeowner had a walk-out basement that leads to a hot tub and they have been considering adding a pool to the space as well. But, with an unfinished basement, it was not a very guest or entertainment friendly space to lead to the hot tub and backyard entertainment space. We worked with the homeowner to conceptualize a space that would enhance the entrance to the backyard and create even more of an entertainment are in their home.
We built an open living and entertainment space which includes a sitting area that opens up to a kitchen area with a bar counter for sitting and serving food. There is also a finished basement bathroom for guests. Essentially, it is an all-encompassing area for them to enjoy with guests. And it now is an ideal space for them to put in a pool.
The Result
In our experience, basement remodels usually add approximately 1000 sq ft to a house. This adds incredible value to a home in the event of a refinance or sale. After the initial investment on the project, we estimate that the value you add to your home ends up being twice the amount that you spend on the actual remodel of your space.
The Statistics
According to these statistics, you can see how much the different types of remodeling projects can increase the value of your home in comparison to how much you would typically spend on the projects. Let’s break down the projects completed on this particular project:
- Major Kitchen Remodel: $40,000 increase on home value – a 52.8% recoup of the expense
- Bath Remodel: $20,000 increase on home value – a 52% recoup of the expense
If you were to add a bedroom this would be a $75,000 increase on home value – a 47.2% recoup of the expense for the remodel project. (These are statistics for the Midwest region and not a direct reflection of the actual cost of one of Houston Remodeling’s projects.)
Need Help with Your Basement Remodel?
Houston Remodel Service is your local basement remodel specialist! When it comes to renovating the basement of your home, we know that choosing the right contractor is key. If you need more help deciding how to make your basement the coolest hangout in the neighborhood, Houston Remodel Service can lend a helping hand.
Contact Houston today to learn more!