When you look for your next home, you may come across properties with both finished and unfinished basements. Each has pluses and minuses. Your family’s needs and goals, as well as your budget, can impact your choice.
Pros and Cons of a Finished Basement
If you select a house with a finished basement, that area will have walls and flooring and may also be equipped with an HVAC system. If that’s the case, you won’t have to worry about the work and expense involved with making upgrades after you move in. You’ll be able to immediately put the space to use as a family room, a home gym, a bedroom, or a playroom.
If you buy a house with a finished basement, it might not be laid out in a way that’s appropriate for your family’s needs. For instance, the basement may be divided into multiple rooms. If you envision having a large, open family room, you will have to hire a contractor to tear down walls. If you want to install a home entertainment system and the basement doesn’t currently have the necessary wiring, a contractor will have to open up walls to install it. Those types of projects can be expensive.
Benefits and Drawbacks of an Unfinished Basement
All else being equal, a house with an unfinished basement will most likely be cheaper than a home with a finished basement. If you’re on a tight budget, you may decide to buy a house with an unfinished basement, then make changes later, when you have more money available. Upgrades that you make can increase your home’s resale value.
If you purchase a house with an unfinished basement, you’ll have plenty of flexibility when it comes to design. You will be able to renovate the space to perfectly suit your family’s needs and preferences. You may decide to create a spacious family room, or you may prefer to section off the basement and turn it into one or more bedrooms, a kitchen, a bathroom, a laundry room or some combination of these. If you need to have a contractor install electrical wiring, it will be easier and less expensive if workers won’t have to open up and then repair walls.
An unfinished basement may be uninsulated and may not have an HVAC system. It may be expensive to add insulation, heat and air conditioning to make the space suitable to use as a living area. A basement that’s unfinished may be susceptible to leaks and mold, but it will be easy to spot problems and make repairs if issues aren’t hidden behind walls.
Consider the Merits of Each Property
You may think that a house with a finished basement is ideal. While it can provide valuable living space, there are downsides to buying a house with a finished basement, as well as benefits to purchasing a home with an unfinished basement. Carefully consider the features and cost of each property before you decide.
