What is Better: basement finishing or home addition?

House market in Toronto and GTA is unpredictable. That is why more and more homeowners decide to increase their living space with the help of finishing their basements, or constructing home addition, instead of selling their house and buying a new bigger house.  Customers always hesitate which way they should go. This question is answered in different ways to different homeowners, depending on their financial situation, municipality, square footage, etc. Let’s take a deeper look into each of these ways of increasing the living space.

Basement finishing.

Generally speaking, finishing basement is cheaper that constructing a new home addition. This is because you it requires much less building permits, much less time, much less labour involved in the process.  Technically the process if finishing the basement does not lead to increase of your square footage, but at the same time provides you with additional living space. This is also cheaper when we talking about property taxes. While finishing basement you could gain a separate dwelling unit with separate entrance, kitchen, bathroom, bedroom, living room, etc.; which could potentially lead to additional income, ones the homeowner decides to rent the basement out. If customer decides to go with this way, it is always a very smart idea to perform professional water proofing in order to keep basement dry and pleasant to live in.

Home addition.

Talking about home additions, there is no doubt that they are more expensive to build, rather than finishing basement. This is because massive amount of work has to be done to the foundation, structural/non-structural framing, windows/doors, roofing, exterior finishing, waterproofing, landscaping, etc. In addition to this, you have to make sure, that your backyard will allow you to do it. Of course this is only when we are talking about home addition which has to be constructed at the back/side of your house.  When we talking about adding another storey, some of the points are not necessary. For example, foundation, waterproofing, landscaping, etc.  At the same time, you have to be sure, that the structure of your house will be able to handle the additional weight of the added storey. This was is cheaper, but again, depending on the municipality, sometimes impossible to perform.

No matter which way you decide to go, you are always welcome to contact us for a free consultation and a piece of mind. In Acon Renovation we will give you valuable advices, depending on your particular situation.

Useful Information About Renovations:

1. Why choose Acon Renovations?
2. Should you do it yourself or should you hire a professional renovator?
3. Is it worth to buy cheap building materials for your renovation project yourself, or better authorize renovation experts?
4. What areas Acon Renovation provide its services?
5. What is the best time to start your Renovation project?
6. 5 advices on how to choose a renovator contractor?
7. 5 tips to increase your property value?
8. How much it could be possibly cost to renovate your house?
9. Should I renovate my home before selling it?
10. What should you avoid when buying property?
11. What is better: basement finishing or home addition?
12. Why should you hire a pro-painters?
13. Update vs Renovate
14. When you need building permit and when not?
15. Modern trends in home renovations
16. We work you relax
17. Useful tips for those who plan renovate