If you are looking for additional living space in your home, the most obvious may be finishing the basement. But like any home improvement project, there are both pros and cons to take into consideration before writing that big check.

Let's walk through the pros and cons to see if a finished basement is the right choice for you.

PROS

• Increased Living Space. One of the biggest reasons one would choose to finish their basement is the obvious...to gain additional living space. This space could serve as a home office, a playroom, an entertainment room or maybe a home gym. The space offers versatility.
• Increased Property Value. If you choose to sell your home later, a finished basement adds an appeal to future buyers. They will appreciate the additional living space, without the hassle and expense of completing the work themselves. That aside, a finished basement adds 70-75% to the initial value of your home. This is a good return on investment.
• Offers Privacy.The basement is a great way to keep louder activities separate from the rest of the home. Being underground, a basement naturally muffles sounds that could disturb your neighbors or others in the home.

CONS

• High Initial Cost. Despite the final payoff, the initial investment in finishing a basement can be a substantial investment.
• Less Storage Space. One of the great benefits of an unfinished basement is the abundance of storage space. Finishing the space decreases this valuable space.
• Moisture. Basements are known for the dreaded dampness, that could cause mold and a musty smell. Waterproofing measures should be explored when considering a finished basement.

A finished basement can surely be an invaluable addition to your home. But like I said, make sure you weigh the pros and cons carefully, before making such a significant investment in your home. You'll be glad you did.