Most homeowners tend to neglect the basement and use it as a storage space instead of realizing its full potential. They fail to understand that a well-designed space can help enhance the overall value of their property. As a leading basement renovation contractor, we know that opting for basement remodelling can help you utilize the space in the best possible way.
Top Reasons to Consider Basement Renovations for Your Home
- Utilize the Extra Space
Adding a new room to your home can be expensive and time-consuming. Remodelling the basement not only requires less work and time but is a great way to utilize the available space. You could convert it into a bedroom with all the desired amenities or use it for a variety of purposes such as a gaming room, theatre room, an office, a playroom for the kids, and more.
- Increase the Value of Your Home
If you are looking to sell your property, remember that an unfinished and cluttered basement does not appeal to prospective buyers. However, you can grow the pool of interested buyers with a renovated basement that is organized and clutter-free. This will also help increase the value of your home.
- Cut Down on Energy Bills
An unfinished basement without proper insulation and ventilation can be an energy drain and become a cause of increased utility bills. A remodelled basement with adequate insulation, however, helps to maintain a moderate temperature in your home and contributes towards reducing the air leaks and energy inefficiencies.
- Guest Room and Rental Space
Opting for custom basement renovations can turn your basement into a perfect place for a guest room. The quiet and isolated space is also ideal for renting out as the renters will appreciate the added privacy. Moreover, it’s an easy and effective way for an additional source of income.
- Entertainment Space
Basements have excellent acoustic properties, which is why they are perfect for an entertainment room or a personal theatre. You can install comfortable seating and a home theatre system equipped with state-of-the-art technology and host parties or enjoy quiet movie time with friends and family. It comes with the added advantage of not having to worry about disturbing the neighbours with the noise.
- Improve Safety
By choosing to renovate your basement, you can reduce many problems such as water leaks, mould growth, and gas leaks that can damage the structure and integrity of a house. This is a wise way to avoid dealing with severe damage to your basement and the associated expenses.
Now that you know the benefits of basement remodelling, let’s look at a few easy ways to make it more appealing for potential tenants.
How to Make Your Basement Rent-Ready
When it comes to renting out a property, many people feel the basement is not an option. With a little groundwork and guidance from our experts and a custom basement renovation, you can make the space liveable and attract the right kind of tenants to rent out your basement. However, before you make the changes, consider the trends in your area, identify your potential tenants and start renovating accordingly. Read on to learn what else you should keep in mind.
Things to Consider When Renting Out Your Basement
- Keep Moisture at Bay
Since basements are more prone to leaking, be sure to check for the signs of moisture. Smell test your basement, and if you detect something musty and stale, you may have a leak. Invest in high-quality waterproofing as part of your basement remodelling plans to avoid leakages in the future.
- Check for Mould Growth and Pests
Basements are also more prone to mould. This is why you should often take a look and address any affected areas. Also, schedule pest control to avoid any bug problems.
- Install the Right Basement Flooring
When it comes to custom basement renovations, choose the flooring material wisely because basements tend to get cold quickly. This can help you keep the space warmer for longer. You should use an adequate ratio of carpet and vinyl for the desired results.
- Create Additional Storage
Storage space is a crucial aspect for basement remodelling in Toronto because tenants in the city typically prefer basement apartments that offer adequate storage areas. Declutter your basement and make changes accordingly to ensure there is enough space for them to live comfortably.
- Install Quality Lighting Fixtures
Since you do not get sufficient natural light in a basement, it helps to opt for modifications that can make it brighter. It’s a good idea to choose brighter lighting and paint the walls a light shade as part of your basement renovation. You could also add string lights, tall floor lamps, bedside lights, and more to make the space look chic and bright.
- Consider Fireproofing and Soundproofing the Basement
Along with safe fire escapes, consider other fireproofing elements such as fire-rated doors, alarms, and more. Learn your municipality’s regulations and stipulations and act accordingly. In addition to fireproofing, soundproof the basement to ensure you and your tenants have privacy. Also, install security locks as part of your custom basement renovation tasks to ensure their safety.
We Provide Extensive Basement Renovations in Toronto
renoWoW! is a licensed, insured, and reputable basement renovation contractor with over 25 years of experience in the industry. We believe that every renovation project is unique, and work towards creating a great space as per your needs. We have a customer-focused approach and can come up with the best possible solutions to transform your basement into an organized and beautiful room within the given deadline. We offer a back-to-back warranty for two years on all our basement renovation projects.