Adding Value, Features, and Function to Your Home through Basement Remodeling

by Joe Cooper

With the housing market still struggling, homeowners are searching for ways to add value to their homes while avoiding major remodels.

A Remodeling Online assessment from 2006 revealed an average cost of remodeling a basement at around $51,000. It also reported a 90 percent return on investment, among the highest for home remodeling projects.

Remodeling your basement can add great new features to your home and increase its value during a weak economy and slow housing market. Here are a few things to keep in mind before you start.

Finished Basements Mean Selling Features
Remodeling companies say that there are four major areas of unused space on which homeowners can capitalize--decks, garages, attics, and basements. Like a garage, a basement offers a variety of options for new spaces:

• Family room. Some carpeting, insulation, and furniture, and your basement can become an extra room where your family can read, play, and watch TV.
• Home office. One of the most popular remodeling options, a basement can become a functional home office with the right wiring and furnishing solutions.
• Gym.Turning your basement into a gym carries some extra costs for fitness equipment and ventilation, but can save you hundreds in gym fees every year.