I recently met with lovely clients who we helped buy their first home 10 years ago. Since then two kids have come along and the house is feeling a bit small. We’ve been working with them to help them decide whether a major renovation or a move makes more sense. Diane and I love talking renovations! Both of us have been involved in major projects on our own homes, several times over, so we have a lot of experience. We’ve also helped many clients over the years with making decisions about what are the best investments for upgrades and additions. With these particular clients the question of the basement came up and it was an interesting one! Additions can be built on piers, crawlspaces or full foundations. There are cost savings to going with something that doesn’t have a useable basement space and when embarking on a major project, people need to be budget conscious – it’s important. I suggested to these folks that even though they don’t need a full basement, it might actually be better in the long run for re-sale. Even if the space isn’t needed right away, it’s always nice to have the option in the future and once it’s built you can’t really change your mind. What might be a little bit extra now will result in a lot more value later. Every situation is different and house and neighbourhood is different. We love helping our clients work through these decisions and transitions!
To Basement Or Not To Basement…
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