Basements have come a long way since the days of wood paneling, shag carpet and that distinct smell of mold and mildew. A well-finished modern basement is dry, warm and just as beautiful as the home’s main floor. When purchasing an Ironstone home you will have the option of finishing your basement* and while the added expense might be something you want to put off, there are several benefits to including it at the time of purchase.
1. Increase your home value
You just bought a new home so you might not be thinking about resale value, but finishing your basement can be a great way to add equity. By adding practical square footage you’re adding to the value of your investment.
2. You’re going to want extra space sooner or later
Your three-bedroom home might seem large enough for your family but we all know that over time we end up needing more space. Instead of dealing with contractors and renovators down the road, finish your basement at the time of purchase and have space for a gym, home office, guest room, storage, or a play room.
3. It’ll cost less to finish your basement when you buy
If you choose to finish your basement after moving in it can cost up to 40 per cent more and you have to deal with trades people coming in and out of your home while you live there.
4. Safety of investment
If you choose to finish your basement at the time of purchase all the work will be covered under Tarion (formerly the Ontario New Home Warranty Program). This regulatory body was created by the government to administer the Ontario New Home Warranties Plan Act. Tarion protects new-home buyers by ensuring that builders abide by provincial legislation. That means Ironstone is legally required to provide a warranty that covers defects in work and materials, electrical, plumbing and more. Visit the Tarion website for more information.
5. Reduce heating costs
The winters are long and cold and hydro bills reflect that. Concrete floors and unfinished walls can add to your heating costs, but you can reduce the loss of warm air from your home by finishing your basement.
6. A comfy place to hangout
Anyone who grew up with a basement knows how nice it can be to cuddle up with your family in the basement to watch a movie or play games. It also doubles as a great entertainment area.
*Some models come with a finished basement included in the base price.