It’s no secret that generally speaking, homes with unfinished basements sell for less than homes with finished basements. It’s a factor that many homeowners with Markham houses for sale are concerned about. They are worried that they may not get as many and/or as high bids because their basements aren’t finished.
However, what most people with unfinished basements don’t consider is that homeowners who have finished basements spent a lot of money to renovate the basement. On average, a 1,000 sq.ft. basement can cost $35,000 to $50,000 to finish.
The cost to finish your basement means that you will probably not get your entire investment back from a higher price for the home. But there are still lots of less costly, relatively fast and easy things you can do to sell your house for more.
3 Ways to Get More For Your Home if Your Basement is Unfinished
- Clean & Tidy – If you do nothing else, make your basement as clean and tidy as possible. Unfinished basements can become unorganized dumping grounds for seasonal clothing, packaging, hockey equipment and who knows what else. You may have become used to it, but it can be a huge turn-off for potential buyers – even if the rest of your home is stunning. You may have to go to the extent of renting a storage unit. But the more you can unclutter, clean and tidy your basement, the less of a problem it will be.
- Paint – Just like in the rest of your home, a good coat of paint offers as high a return on investment as any basement renovation. Try to paint as many surfaces, including the basement floor and walls, as you can. If you can completely empty your basement and paint the entire space – all the better. Be sure to use specific concrete floor paint or epoxy for the floors. You may get a lot of traffic during viewings of your home and you don’t want the paint to chip or peel. It’ll be easier to clean too.
- Create a Basement Laundry Room – If your clothes washer and dryer are in your basement, use them as a focal point for the otherwise unfinished basement. Consider using metal shelving in the laundry area for detergent and cleaners. You can also add an area rug in front of the machines for a bit of décor. If the shelving idea works for you, consider adding more to store anything you can’t remove from the basement. This will help you organize the clutter and highlight the storage space the basement offers.
Want to learn about more ways you can renovate your home to increase its value? Check out our article “5 of the Best Home Improvements for Resale Value”.