One strong trend in remodeling is the conversion of basements into living space. Many newer homes in Tennessee do not have full basements, but this is a relatively common feature in older houses. Millennial real estate buyers may choose an old house because it costs less than a newer one. They’ll hire a Basement Finishing Contractor in Suffield CT to finish the basement and do other renovations.
Millennials as New Homeowners
Contractors have reported that this trend is especially prevalent among the younger homeowners. Those of Generation X might be looking to move into a larger, newer place than they have previously lived in, while the millennials are appreciating buying a house for the first time. A survey from Home Advisor found that first-time homeowners between the ages of 20 and 40 are substantially more likely to remodel a basement than older homeowners are.
These younger adults can save a significant amount of money by purchasing a modest three-bedroom home and hiring a general contractor in Suffield CT to add a family room, bathroom and other features to the basement. This could also be a place for a home office or a wet bar area for entertaining.
Expanding the Living Space
Hiring a remodeling professional like Basement Finish Pros to convert a basement to living space is a very cost-effective strategy to expand the home’s usable square footage. In many houses, much of the basement is wasted space. The household uses it for a laundry area and workshop, and appliances like the furnace, a water heater and a water softener are placed there. The rest might be used for storage or sit empty. A finished basement also greatly boosts the resale value of the home.
Future Uses for the Basement
Once the children are grown up and have moved out, if the parents decide to continue living here, they have new options for the basement. This can be a place where the adult children and the grandchildren can come to visit and stay overnight. They might expand the home office into a home business if zoning allows.
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