Improving your home is the right of any homeowner. It can increase your quality of life and the return on your investment. In fact, according to Scotiabank, over half of all Canadian homeowners are planning to renovate their homes post-pandemic. While basements are common in the GTA, they may not be the first room under consideration when planning an upgrade. Focus Construction wants to dispel some myths about renovating a basement that may be leading some homeowners to avoid this remodel.
There isn’t much return on investment from a basement renovation. A common misconception, since other rooms often come to mind first when it comes to immediate ROI from selling your home. A finished basement can actually raise the value of your home by up to 77%. A fully renovated basement can also be used for a number of utilities, from entertainment to an additional living space. In the Greater Toronto Area, basement apartments are still quite popular and can be an extra source of income for many homeowners who rent out their basement.
Basements are too dark to be worth the effort. Basements typically have smaller windows, and when combined with Toronto’s longer winter, GTA homeowners may feel that the basement is too dark to warrant renovating. However, a well-designed basement renovation can be transformed from dark and spooky to a well-lit living area. By choosing lighter colours for your design and spaced-out recessed lighting, you’ll find the right ambiance and forget that you are in a basement altogether. And, if you are working with a professional design team and general contractor, they can make sure your basement has a similar aesthetic to the rest of your home.
Basements don’t require building permits. It is well known that adding an additional floor or an extension to your home requires a building permit. While the basement may be the lowest level of the home, it still requires a permit to ensure the build is up to code. At Focus Construction, we help our clients with procuring the right permits that they will need for all of their renovation projects. If you are working with a design team and another contractor, make sure you have the right permits in place.
There is a risk of flooding. Flooding is a well-known and common issue in Toronto, especially in older homes. While some homeowners may feel it is best to leave the basement alone when renovating a property, basement flooding could cause more issues to your remodelled home than if you had never looked at it. Out of sight, out of mind. When completing a basement remodel, installing a proper waterproof system will leave you with less to worry about with your home in the future.
Focus Construction would be happy to help you design and convert your basement into a livable space. We’ve helped hundreds of homeowners update and renovate their homes to meet their changing needs. Book a call to get started.