Each year, various sources set out to calculate the cost versus added value of home remodeling projects. Finishing and/or remodeling a basement is consistently on the top of the projects list that many homeowners carry out. One of the main influencers that pushes a homeowner to complete a project is the cost of the project and the added benefits that project will bring. A basement remodel or finishing project offers many benefits and in 2014, a large jump in percentage of costs recouped was seen across the board.
Basement Remodeling Projects Gain 10.4% in Cost to Value Ratio
According to Remodeling Magazine, a Basement Remodel, with an average cost of $62,834, gained 10.4% over 2013 to reach a 77.6% cost-to-value ratio. This gain moved the basement remodel project from the 13th to the 12th best project to do, in terms of cost to value ratio. In an overall comparison, remodeling and finishing projects in New England came in 3rd when it comes to best cost to value ration.
Remodeling and finishing a basement is cheaper, more cost effective than building an addition onto an existing home.
We like to let our customers and homeowners know that the cost to add an addition to an existing home is far more than the cost to finish a basement. The survey that Remodel Magazine completed shows this as well. The magazine notes that “Both (Attic and Basement) of these projects have been trending upward in recent years, possibly because, compared with building an addition, they represent an inexpensive way to add living space to an existing home.”
There are many different remodel and finishing projects you can do in your basement that will add value as well as function. Whether you are looking to turn your basement into a playroom for the children, a media room, an office, an inlaw apartment or even a workout room, Rescon Basement Solutions can do it for you.
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Rescon Basement Solutions has 3 departments providing services across New England. Rescon offers a complete line of products and services for all your basement projects, including Basement Finishing, Basement Waterproofing and Basement Air Quality.
Read our Learn about the cost to finish a basement article for more information