After explaining the impact of finishing your basement, it's time to take a look at the end result. As YNN's Solomon Syed reports, the finished project can help the resale value of your home.
"Having a finished basement is very attractive to buyers because it's some place they can put the kids, put their extra stuff. It definitely does add to the value of the home considerably," said Kevin Koval, Adirondack Basement Systems President.
If a finished basement is something you are considering, there are building requirements you must meet first.
"There are special requirements when finishing a basement. Some houses don't have the proper ceiling height for a basement to properly qualify as living space, the main ceiling has to be at a minimum of six foot eight inches above the finished floor, whereas duct work can be a minimum of six foot four inches above the finished floor," explained Koval. "There's also egress codes, meaning you have to have a second means of escape to get out of the basement in case of a fire. If you have an entrance to the basement that comes from a garage, generally speaking that doesn't qualify. It has to be an escape directly to the outside of the home as well as a set of stairs up to the house."
If your house doesn't meet those requirements, that does not mean you can't make it more than just a basement.
Koval suggested, "You can make it a usable space where it's dry, usable for storage, for a laundry room things of that nature. You just wouldn't be able to make it a full finished basement with a ceiling and a floor, but you could do something with the walls and still utilize the space."
How you choose to finish your basement is up to you and your budget, but there are certain products to consider.
"You want to use products that will not support mold growth and that will not rot. You could have a concrete floor that's perfectly dry, but the ground underneath still had moisture in it and that moisture transfers through the concrete. You don't want to trap that with a carpet that can get moldy or rot on you," said Koval.
Price is based primarily on the square footage, and what you want to have done.