Kitchen and bathroom remodels have always been popular, but recently, homeowners have shown more interest in remodeling their basements as well. Denver basement finishing projects are a great way to update a dark and crowded basement. But, why are so many homeowners suddenly starting to take interest in this type of remodeling project?
Many of the homeowners who have chosen to remodel their basements in the last several years are Millennials. In fact, Millennials are 89% more likely to remodel a basement than any other generation. Why? Many people within the Millennial generation are struggling with student debt and low wages, which means buying a home can be challenging. As a result, Millennials often have to settle for smaller, older homes that need a decent amount of work. When choosing which areas to remodel first, they often go with the basement or the garage. This is because remodeling one of these areas means increasing the amount of living space or storage space within the home. Learn why so many Millennial homeowners are remodeling their basements
Some Millennials look at a remodeled basement as an opportunity to earn cash on the side. Once the remodel is complete, Millennial homeowners can rent this additional space out using websites such as Airbnb to earn extra money. This cash can go towards mortgage payments, student loans, or even the cost of the remodel. Even if Millennials don’t recoup the cost of the remodel right away, remodeling a basement typically adds value to the home. Therefore, Millennials will eventually see a return on their investment when they decide to sell their home.
Millennials may be more likely to remodel than other generations, but this does not mean they are the only homeowners who decide to remodel their basements. Homeowners from all generations have embraced this trend, partly due to the fact that remodeling a basement is easier than moving to a new home. Families that need more space may decide to remodel the basement to create a second living room, extra bedroom, or play area instead of going through the hassle of finding a new home.
Homeowners who are hoping to sell in the near future may see remodeling their basements as a way to attract buyers on the real estate market. The market can be very competitive, so sellers will need to think of a way to get buyers’ attention. One way to draw buyers in is with a finished basement that will be sure to set your home apart from other listings on the market.
Now that you know why these finishing projects are becoming increasingly popular, are you ready to finally remodel your basement? If so, get in touch with our team of experts today. In addition to finishing basements, our team can also help clients remodel their kitchens and build stunning outdoor decks and gathering spaces. Let us help you bring your vision of a finished basement to life! Contact Ridgeline Design and Build in Colorado
today for your free consultation at 303-346-6100.