Just because a home has an unfinished basement doesn’t mean that you can’t make an offer. Here is a quick glimpse at just a few of the benefits of buying a house that has an unfinished basement and some steps that you can take to fully utilize that space.
Lower Asking Price
Before you ever make an offer on a home, you should always speak with a real estate agent about any potential issues that might affect the value of that property. For an unfinished basement, you might be able to lower your offer by thousands of dollars. The current owner probably doesn’t want to spend extra money on finishing the basement, and that could mean that they are willing to take the first decent offer that comes their way.
Ability to Expand Your Living Space
As long as the basement isn’t severely damaged or unkempt, you should be able to finish it in a relatively short period of time. Adding a few basic amenities will quickly turn an unfinished room into an acceptable living space, and that could increase the resale value of the house by a substantial amount. You can make it a mother in law apartment with a kitchen, bathroom and making sure you have water heat pump installation and AC in the newly finished basement. In some cases, you might even be able to create a separate rental unit, and that is going to give you a passive income for many years to come.
Create Your Own Getaway
Practically everyone dreams of creating their own private getaway, and an unfinished basement is the perfect place to turn that dream into a reality. From a lavish home theater to a cutting-edge gaming room, the sky is going to be the limit with your basement. All you will need to add are a few extra outlets, a little bit of insulation, and some finishing touches.
Easier Inspections
After a basement has been finished, it will be very difficult to inspect that area of the home. You might need to rip up carpet or even pull down siding in order to get a better look at the foundation. As long as the basement is unfinished, the inspector should easily be able to catch common issues such as slab leaks, water damage, and mold.
Finishing a basement doesn’t need to be an expensive project, and that is why you should think of an unfinished basement as a blank canvas. With a little money, you will be able to turn that area of your home into a bedroom, an office, or your own private getaway.
