Will an Attic or Basement Renovation Add Value to Your Home?

by | May 24, 2024 | Basement, Cool Spaces & Ideas

An attic renovation that adds a loft, bathroom, and bright windows

 

Will an Attic or Basement Renovation Add Value to Your Home?

The right renovations can help elevate the comfort and function of any space – as well as raise the value of your home when it’s time to sell.

Two of the most approachable home improvement efforts are an attic and basement renovation. Both renovation ideas can add value to your home, giving you extra living space and higher resale value. 

This post briefly explores how an attic or basement renovation can increase the value – as well as some ideas of what you can do with the extra square footage!

The Value of Livable Space

A 2022 report by the National Association of Realtors shared that renovating your basement (for any use) gave homeowners an 86% return on their investment. The same report also shared that a finished attic recoups about 70% of its cost in resale value. Of course, that value only matters if you plan to sell – there are plenty of other ways to value the extra space in your home. 

For instance, you can utilize that extra space for:

  • Adding bedrooms
  • Building out more storage space
  • Adding bathrooms (or completing a bathroom remodel)
  • Adding a home office 
  • Creating entertainment spaces

The list goes on and on. The real question is: what will make that space the most valuable for your life? No matter how you choose to proceed with a finished basement or attic conversion, you’ll have plenty of ways to enjoy that new space. 

What Adds The Most Value To My Home?

If you’re looking for the simplest way to add extra value to your attic and basement areas, here are the top aspects you should consider:

#1: Bathrooms Add Value

One key factor home appraisers look at when evaluating home value is the number of bathrooms. If you are choosing between remodeling your basement or attic, consider which could fit a bathroom. 

It may be more difficult to include a bathroom in an unfinished attic, but by adding a dormer you can create a comfortable amount of extra space for a full or half bath. As with any other living space, you’ll want to make sure that you add proper insulation, moisture control, and have all the right permits in place!

Curious to learn more about adding more space? L Evans Design specializes in home additions in Portland.

#2: Closets Are What Constitute a Bedroom

When you remodel your attic or basement, consider including a closet. Even if you have no immediate use for a closet in those spaces, that addition generally turns a regular room into what Realtors consider a legal bedroom (so long as it also meets square footage requirements dictated by building code). Adding bedrooms will always boost the value of a home.

Thankfully, in order to qualify as a closet you won’t need to do very much. 

A shallow coat closet can suffice, but if you can create a walk-in closet you’ll have an even stronger bargaining chip for a future sale. Even if it’s just a bit of extra storage space, it’s worth it in the long term!

#3: Heated Space

Once you have decided to finish out your basement space or attic for that new room, don’t forget to insulate and properly heat the space. Not only will this make your spaces more comfortable, but they will also legally increase the total square footage of your home. 

It’s pretty straightforward to run ductwork into these areas so that they qualify as heated space. You might want to consider air conditioning too, depending on where you live and how hot is gets. 

Make sure that there are several vents in each room in the space, just in case you subdivide the square footage into separate rooms in the future.

#4: Minimum Ceiling Height

When you choose between an attic or basement renovation, you’ll also want to consider which has higher ceilings. 

In general, 7-foot-high ceilings are the minimum of what you’ll need to qualify your attic or basement as a truly livable space along with a legal stairway to these areas. Building codes may vary between cities and states, so when in doubt, consult with home remodeling professionals to get answers first.

Boost The Value of Your Space

Your home should feel that way, and renovating your attic and basement are wonderful ways to improve your living space and get more value when you sell your home. 

If you’re looking for a partner to help design an unfinished basement or dusty old attic, get in touch with L Evans Design. Let us help you with your next full home, kitchen, bathroom, custom addition, or aging-in-place redesign project today!

Get in Touch!

Let us help you with your next full home, kitchen, bathroom, custom addition, or aging-in-place redesign project today! 

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