Can a Man Cave Really Boost Resale Value?
Basement builders are seeing rising popularity in “the man cave.” In fact, more basement renovations in Edmonton include transforming the home’s lower level into a room custom-built for recreation than ever before. And although it’s named for "the man" in the house, it’s typically used by the whole family. After all, a man cave can provide prime space for entertaining, socializing, relaxation, and personal time. It can certainly make your home more enjoyable for yourself while you’re living in it.
But can a man cave increase property value? What happens if you decide to sell your house?
That's what we're going to talk about in today's post. Not only will we talk about what a man cave will or won't do to your home's resale value, but we'll also share some tips for making your man cave more enjoyable and more valuable.
The Truth About Man Caves & Resale Value
Basement renovations do have value and a decent return on investment. But a man cave that's too personal or too specific to an individual’s or family’s taste can turn off some buyers.
For example, if you’re a passionate sports fan and do a custom renovation dedicated to one team. In that case, someone who isn’t into sports, or a fan of that team, will not be a fan of your man cave.
(Speaking of resale value, take a look at this post next: Tips for Energy Efficiency & Adding Value to Your Home)
There is a market for a man cave and having a space for entertaining and relaxing is an attractive selling feature. Just don’t go overboard with it.
How to Create a Man Cave That's Enjoyable & Boosts Resale Value
If you’re not too personal, bold, and specific, there is a resale market for man caves. So, how can you create the man cave of your dreams without diminishing your home’s resale value?
(Here are five other upgrades to consider carefully during home renovations: Remodeling a House? 5 Upgrades That Might Not Add Resale Value)
If you want to cover your man cave with eccentric or you-specific décor, make sure it's all something that can be removed if you choose to list your house for sale.
For example, maybe don’t paint your team’s logo on the wall or have it embossed on the floor.
Instead, put up banners, posters and décor that can be removed. When buyers come to look at your home, they can see what the place looks like with that type of décor but won’t have to worry about repainting the wall if it doesn’t match their taste.
(Are you considering adding concrete countertops in your home? Perhaps for the bar in your man cave? Read this first to find out if they are worth the investment)
Remember: an extravagant man cave is a luxury.
So, make sure your basement renovations are within an acceptable budget. Some luxury items won’t recoup costs at resale, so only splurge if you can afford it. Going overboard on your man cave renovation might create a stressful financial burden, and this reno is supposed to be enjoyable and relaxing. Not to mention, if you go too far out of your budget creating your man cave, anything you might gain in resale value will be lost!
Are you looking for more inspiration for your man cave? Start here.
Did you enjoy this post? Here are three more to read next:
- Tips For Buying A Home In Edmonton
- The Only Moving Checklist You Need in Edmonton
- 3 Signs You are Overpaying for a House