Feeling crowded in your small home? Dying to do something with that unfinished portion of your basement? The extra space and function offered by building an addition to your home might be the solution to your problem. Chances are, you’re already considering one.
A basement renovation can take any number of forms, from the relatively minor framing of a couple of walls for a spare bedroom to a full-on remake of the lower level of the home for luxury living and entertainment space. Because of the multitude of options a basement can provide, the cost of a basement remodel in Portland will vary greatly. Below, we've compiled average figures based on our experiences, and figures from Remodeling magazine’s Cost vs. Value Report.
Most home improvements don’t earn you deductions or credits on your federal or Oregon income taxes, although there are some exceptions. Take a look at the home-related spending that you can claim to help reduce your income taxes.
Most people don’t have enough cash sitting around to pay for a major home addition or remodel — although that’s probably the best way to finance such a project — so they need to study the options available in home renovation loans.