Every homeowner and resident of Illinois wants a modern makeover that not only increases the living space but also enhances the return on investment value. When deciding between renovating a basement and making home additions, several factors come into play, including cost, potential return on investment (ROI), design flexibility, and the specific needs of your household. So, if you are one of the Illinois’s homeowners who also wants extra living space but is confused to decide which remodeling service will be beneficial for you, then read on this blog to know the answer of this question.
Factors That Will Help You Decide The Best Remodeling Choice
1. Cost Considerations
Basement Renovation
In Illinois, finishing a basement is comparatively less expensive than building a home addition. This is because the foundational structure is already in place, which reduces material and labor costs. However, if the basement requires significant work to address moisture issues or height adjustments, costs can escalate.
Home Addition
Building an addition typically incurs higher costs due to the need for new foundations, roofing, and potentially additional structural support. The price per square foot for additions is often significantly higher than for basement renovations.
2. Return on Investment
Basement Renovation
Renovating a basement can increase usable living space. However, it may not add as much value to the home as compared to home additions. This is because below-ground space is often not considered in total square footage for real estate listings.
Home Addition
An addition usually provides a higher ROI as compared to the basement finishing, especially if it increases the home’s above-ground square footage. Buyers often find added living space above the basement area more appealing, which can translate into a better resale value.
3. Construction Process
Basement Renovation
Basement renovations are typically less disruptive which allows homeowners to continue living in their homes during the renovation project. The construction process tends to be quicker as it involves working within existing walls as compared to the home additions.
Home Addition
The construction of the home addition process can take a longer time to complete due to the complexity of building new structures and may require homeowners to temporarily relocate during construction. Additionally, obtaining permits for additions can be more challenging due to zoning laws and property lines.
4. Design Flexibility
Basement Renovation
The design options for basements can be limited due to natural light constraints and existing structural elements. However, they can be ideal for specific uses like home theaters or game rooms where natural light is less critical.
Home Addition
Additions offer greater design flexibility and access to natural light, making them suitable for a wider range of living spaces. Homeowners can create entirely new layouts that better meet their needs.
Conclusion
Ultimately, the choice between renovating a basement and adding a home addition depends on individual circumstances such as budget constraints, desired outcomes, and existing home conditions. For those looking for a cost-effective solution with less disruption, finishing a basement may be a good choice. Conversely, if increasing property value and creating a bright, welcoming space are priorities, a home addition could be the better option.