If you’re thinking about finishing your basement, it can be a great way to upgrade the functionality of your home while still getting a decent return on investment down the road. In this blog, we’ll cover a few creative directions that can take your basement to the next level as a part of your living space.
If you’re looking for a fun way to revamp your basement, consider adding a home theatre. Immerse yourself in movies, cheer on your favourite sports teams, or binge whatever series has left you wanting more.
In terms of budget, it all depends on how immersive you want your home theatre experience to be. It could be decorated from top to bottom with recliner seats, movie memorabilia, and luxury upgrades, or simply a dark room with a few comfy chairs and a large projector screen. Consider layouts with many individual seats or longer extended couches for social gatherings. The possibilities are endless and what’s in store is completely up to you!
Another fun way to use your space is by creating a games room. Add a pool table, dart board, arcade machine, mini-bar, or whatever else fits your style and budget. Depending on what you add, game rooms can become rather expensive, so keep that in mind if you’re operating under a lower budget.
A home bar and lounge area can be a great addition to any home. It adds a living space that can be used for social gatherings, family get-togethers, or celebratory occasions.
An indoor gym can carry great functional purposes while potentially saving you some money in the long run. Gym memberships can get expensive over time, and this way you’re only paying for the equipment you'll want or need. You can start small and slowly upgrade your gym as you go — avoiding large immediate costs like those needed to build a home bar, for example.
This renovation can be a great way to take your gardening hobby indoors, especially during the colder months. Not to mention, indoor plants can increase the air quality in your basement where it can sometimes struggle. Because this often requires a damp or humid environment, make sure to take precautions against mold and mildew.
If you’re looking for a good way to get a solid return on investment, consider renovating the space into a rental apartment. This way, the rent paid by the tenant can go towards recouping the costs of the finished basement. Rent payments can help you with mortgage payments and other finances, but do keep in mind that there are many major responsibilities associated with being a landlord.
Of course, if you’re just looking to freshen up the space with a nice floor and finished walls, that’s always a great choice. You can always use it as storage space and decide its purpose down the road. The endless possibilities of a multipurpose space can also make your home look more appealing when it’s time to sell.
Although the number of possibilities for a finished basement is vast, we hope that this article can serve as inspiration — and we hope you enjoy your new space!
If you have any questions about buying, selling, or anything about the Ottawa real estate market, feel free to reach out and we’ll be glad to help.