29. Create an Extra Bedroom
One of the most common renovations in a finished basement is to add a new bedroom for your growing family. An extra bedroom could completely changed the dynamic of your home. If you have several kids, this could mean that they all now have their own room to sleep in. Or, it could provide a guest area for anyone who comes to stay.
The more bedrooms you have in a house, the more valuable it becomes. The value-per square footage changes depending on how many bedrooms you start out with. For example, if you are upgrading a two-bedroom home to three, you can expect to add a value of $214 per square foot. But making a four bedroom into five would only bring it up $175 per square foot. As we mentioned in the introduction of this article, having an underground living space is only going to increase the value of your home 50% compared to above-ground. So an extra basement bedroom would only be worth $106 to $87.50 per square foot.