Is it Worthwhile to Finish a Basement?

When owning a house there is always focus placed on the upper levels of the home. Now we’re turning the tables and talking about the lower floor, the basement! There’s a lot of considerations you need to take when considering fixing up the basement.

In an urban environment like Toronto, every square foot is so expensive from a land value perspective. It’s a way to add living space to the main house. Before you start any renovation or home project it is always good practice to start from basement!

Why do you want to finish your basement?

When finishing your basement it’s easy to get lost on Pinterest or in a design magazine when looking for inspiration. It’s in your best interest to take a step back and really think about what finishing this basement would do for you. Here are some reasons we discussed with Brendan:

-A second income: finish the basement and rent it out! This helps with affording property in the city that might otherwise be too expensive.

-An extra bedroom: whether it is for kids when they come home from university, a live in nanny, or extra space to host guests, it’s a definite bonus.

-Create a separate entrance: having more entrances will make the basement more private. You won’t have to go through the main living area to access it.

-More recreational space: kids play time, or movie time might disrupt the main living space. Placing this all downstairs will keep your main rooms less hectic.

-Need an at home office: separate your living space from your working space.

-More wine storage: impress your guests with the latest vintages in your very own wine cellar.

-Extra livable space = increase in house value!



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