Cost Benefit Analysis of Finishing your Basement
Potential benefits of finishing your basement
- Increase the resale value of your home by finishing your basement – Converting unused space into usable space is one of the biggest benefits of finishing your basement. A finished room in a basement is often sequestered away from the rest of the house. You get a real sense of privacy and seclusion in a finished basement room. If you have a smaller home, you may reap larger benefits from a finished basement room than someone with a much bigger house. A finished basement in a smaller home makes it seem much bigger than it really is. In addition, where the livingroom may seem too much a part of the kitchen or dining room, the finished basement room will give a real sense of separateness from other rooms in the house.Double your living space by finishing your basement – Make your home more comforable by increasing the space that you can stretch out in, or sometimes the novelty of a new room in previously unused space can make an old tired home come to life. If you do make a living room out of your finished basement space then make sure and convert your former living room into a library, office, reading room, etc. Don’t finish one space and abandon another.
Waterproofing your basement will protect your home – One of the initial steps in finishing a basement is to waterproof it. This pays dividends for your basement and your entire home since the basement serves as the foundation for your home. Protect your foundation and you will protect your entire home.
Potential costs of finishing your basement
- Water damage to your potential basement – If you fail to completely waterproof your basement then you risk damage to your finished basement. Water damage can come from the exterior of your home as well as the interior in the form of leaky drains, toilets, sinks, baths, etc. Of if you decide to drywall your basement and you suffer water damage through the basement block walls then tearing out the drywall to repair the problem can be an expensive proposition.Mold issues – Drywalling your basement block walls can also lead to mold issues down the road. Once you drywall over a cement block wall, you’ve ended your ability to seal the wall with dry lok, xypex or other products on a regular basis. You may want to consider a wall system that is removable and allows access to the cement block wall behind.
To lay down carpet or not – Cement basement floors have a tendency to sweat water. If you use a material such as carpetting on the floors, you may develop further mold issues. Carefully consider the flooring you use to avoid such problems down the road.