You have just purchased a low-rise pre-construction home. And while it may be tempting to create an additional living space in the basement, I want to advise you why it's a good idea to wait at least a year before finishing it.

Give the time to Uncover Deficiencies 
Moving into a new house can be overwhelming, and there are likely many things you still need to learn about your home. By waiting to finish the basement, you can get to know your home better and understand how it functions. You may discover things like water leaks in plumbing pipes or cracks in the foundation that need to be addressed before finishing the basement. If you finish the basement it might be difficult to get to the root cause of the problems in case they arise. It also, would mean the repair and diagnose cost would be much higher for such. 

Understand Moisture and Humidity Levels
Basements are notorious for being damp and humid, and finishing them right away can trap moisture and cause problems down the road. By waiting a year, you'll have a better understanding of how your basement handles moisture and humidity. You can take steps to mitigate any moisture issues before finishing the space, such as installing a dehumidifier or improving ventilation.

Identify Needs
Finishing the basement is a significant investment specially after the increased prices of labour and material after covid era. By holding off on finishing your basement, you can take the time to figure out how you want to use the space and whether it makes sense to finish it at all. You may discover that you don't need the extra living space, or that the space would be better used for storage or as a workshop.
You might only want to improve part of the area, just enough to take care of your needs. The wait also allows to to more accurately conceive and design the floor plan for the basement. The more time you spend on prepare an efficient layout on the paper, the more better the basement would look and appeal.

Climate Adjustments
The weather can have a significant impact on a home's foundation, especially during the first year. Waiting to finish the basement can help you adjust to changes in weather and understand how your home handles things like heavy rain or snow. Letting the house deal with one full year of seasonal weather cycle helps to validate the solidarity of the home and its elements. 

Closing:
So, those are my reasons why I recommend waiting at least a year before finishing the basement in a new home. Take the time to get to know your home and correct any faults, accurately plan your needs, let the house adjust to changes in weather, and remain forward thinking in your design. 

Wish you all the very best! Reach out to our dedicated team at Elixir for any queries you have in Real Estate and we will do our best to help.


Mudit Mehta 
Broker of Record
ELIXIR REAL ESTATE INC.
Off: 416-816-6001 | [email protected]