5 Reasons Why Basement Renovations in Oakville are Worth the Investment
Posted on March 21, 2024
When it comes to an Oakville basement renovation, there’s plenty of things to keep in mind. Differentiating between which changes are absolutely necessary and which are just nice to have. Deciding what purpose the space will serve in your daily routine. And of course, analyzing if it’s worth the investment. That value can be both financial and experiential. For example, what is the value of a quiet home office, or a private gym? Financially, it can save you money on a commute or membership, but experientially, it can help you to get more enjoyment from your day-to-day life.
When you work with experienced renovation contractors like those at Rose Building Group, you get expert advice on how you can get the best return on investment for your upgrade. Read on!
Increased Living Space
Having a renovated basement area that you actually enjoy spending time in is a game changer. It can almost double the usable square footage of your home and give you more space for the things you love to do. Film fans can have a dedicated movie room, bookworms can have their cozy reading nooks and weight lifters can have their own private gym. The best part of a basement renovation is that you can make it your own. Unlike a kitchen, bathroom or bedroom upgrade, your basement can serve whatever functionality your home may need.
When you work with experienced renovation contractors, like those at Rose Building Group, you can rest assured that your basement will fit your unique living needs. With no commitment required for inquiries and site visits, the Rose Building Group team can help you see the potential in your new living space and bring your dream to life.
Increased Home Value
A top factor in analyzing the return on investment of any home renovation is assessing how it will affect your home's resale value. While most renovations have a net positive impact on the home’s value, basement renovations specifically can recoup an estimated 70 percent of their initial costs. It can also make your home easier to sell. Newly renovated homes tend to spend significantly less time on the market since potential buyers can be confident that the home is up to date.
Whether you’re looking to renovate and sell quickly, or you plan to make a few more memories in your home before moving out, a quality basement renovation can still be helpful. With the expert renovation contractors at Rose Building Group, you can find guidance on how to make the most fiscally sound choices throughout the renovation process.
Additional Rental Income
If you’re looking for a more immediate financial gain and your family doesn’t need the increased living space, then creating a legal rental suite might be the way to go. Having a rental unit is one of the top ways to earn passive income. The rental income can help you off-set any other expenses you and your family have, including paying your mortgage.
The expert renovation contractors at Rose Building Group have years of experience helping homeowners turn their basements into apartments for rent. When these renovations are done correctly, they can give you a regularly flowing supplementary income that can help pay off the renovations quickly. Having a secondary suite can also be a benefit when it comes time to resell your home as it can pass on earnings to the next owner.
Improved Energy Efficiency
Every year energy efficient technology becomes more accessible and affordable, which means there’s a constant flow of new and better ways to save. Though you clearly won’t be investing in renovations with every new advancement that comes along, it is worth considering, when was the last time you renovated? How much advancement have you missed out on? What can you do to renew your energy efficiency?
Energy efficiency can cover a lot of things. It can easily swap out appliances including laundry machines that use less water or light fixtures that work on a timer to conserve more energy. However, it can also include more complicated work such as updated insulation, tightly sealed windows and upgraded plumbing. Though these require a professional renovation contractor, they can lead to huge savings over time. Contact the team at Rose Building Group today to find out how your home can become more energy efficient.
Enhanced Home Functionality
For most homeowners, getting the most functionality out of your home is a constant struggle. As the years go by, your family, and your family’s needs change, your definition of functionality changes too. By working with Rose Building Group, you can take time to assess your family’s needs and create a game plan on how your Oakville basement renovation can transform your home’s functionality.
Adding areas specific to your family like a kids playroom, a home office or a yoga studio can reinvigorate your space. You can also include more practical additions that make sense for your home. Giving your basement a three-piece bathroom, kitchenette, or a family room can help move traffic downstairs and alleviate some of the congestion in the rest of your home. With advice from the professionals at Rose Building Group you can find a design for your basement that transforms your home’s functionality.
Transform Your Basement with Rose Building Group
While a basement renovation can be a significant financial investment, it can cost you more to not update your space. Energy inefficiencies, lowered home value and a less functional space can all cost you more in the long run. Whether you’re looking for a new source of passive income, or you just want to make sure the resale value of your home goes up, a well-done basement renovation in Oakville can be a great investment. Getting in touch with the Rose Building Group team of experts is a sure fire way of assuring your renovation is in good hands. With years of contractor experience on projects of all sizes and designers ready to work with any style you’re passionate about, they can help you make the home renovation process easier. Contact us today for an inquiry to get started on your next big investment: your home.