Basements Add Living Space, Increase Property Values

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We all know that a good, well-built house begins with a good foundation. But what if you could gain some added value out excavation-framed-lgof that foundation?

You can! It’s called a “basement.”

Yes, the basement … For some of us, the basement was the epicenter of our teen years; for others, it’s the designated home office space. For homes of high style and fashion, it’s where family and friends gather in the home theatre.

When I talk with future homeowners about building their house, the subject of a basement is often part of the conversation. And here’s what I advise: The basement is the most cost-effective addition of living space you can achieve.

Every house must have a foundation with which there is a minimum amount of associated cost. With a comparatively minimal additional investment (an average of $15 a square foot depending on basement layout, grade, etc.) you gain additional living space as well as a substantial increase in property value. An added perk: according to the U.S. Department of Energy, a well-insulated basement can gain the average homeowner between $200 and $400 a year in heating and cooling costs. Read more