Finishing a Basement on a Budget
One of the main reasons why people take on this home improvement project is to boost resale value if you intend to put your home on the market. According to a recent National Association of the Remodeling Industry (NARI) report, homeowners can recoup up to two-thirds of their costs for basement conservation.
While a finished basement costs about $40,000, a DIY version can cost a lot less if you are creative with some of the basics. The last thing you want is an overpriced finished basement, and it is important to consult a home improvement expert for help. If you are looking for cost-effective solutions to finishing a basement on a budget, here are some tips to help you get started on the right foot.
Start with One Area of the Basement
Some features recommended for a basement include a big-screen TV or a wet bar or making aesthetic upgrades with stone and brick. These might look like ordinary enhancements, but they can enhance a finished basement and greatly increase the resale value.
Check the Basement for Unwanted Moisture
If there’s a leaky pipe beneath your concrete floor, it can be difficult to detect the cause of the problem until it is too late. Moisture can deter your efforts to finish a basement on a budget because of the related costs of water repair.
Basement Flooring on a Budget
Basement remodels can easily be side-tracked by emerging costs, especially when installing a floor on a budget: the more reason to hire a professional home contractor to help keep the project on track.
Paint the Basement Yourself
The Basement usually lacks sufficient natural light, and painting it with a light color can offset this imbalance, giving life and brightness to the room. The color you choose for your basement can create a huge difference in aesthetics and design, turning it into a well-designed living space.
Find Unique Items to Decorate the Basement
Whether you want your basement space to feel like a farmhouse, ski lodge, or football fan zone, a bargain store has good deals that will help you stick to your budget and help you channel your inner designer without breaking the bank.
Choosing Your Ceiling and Staying Within Your Budget
Most experts recommend ceiling tiles because of the easy access, but you risk incurring challenges during installation since you need to ensure they are perfectly square and done right. On the other hand, sheetrock is cheaper, but it poses a problem when cutting into it for repairs. The simplest solution for your finished basement is painting; you can do it yourself if you don’t mind a rehabbed industrial look.
Clean Out the Musty Basement Air
An air purifier goes a long way in ensuring your indoor air quality is not compromised with musty odors, and you can find a cheap air purifier at a local store for less than $100. If left unchecked, musty odors from your basement can spread to other rooms, rendering your indoor space uninviting.
Use Professionals to Meet Code in the Basement
If you want to turn these projects into DIYs, you risk a lot of headaches and stress trying to acquire the permits needed to complete an unfinished basement remodel. A professional home contractor is licensed and has the experience to handle projects bound by code, ensuring everything is done the right way, adding value to your home.
Benefits of a Finished Basement
A finished basement is a common home improvement project among home and property owners that has the potential to attract more buyers in the future.
An unfinished basement prevents you from fully utilizing your indoor space, and it can affect the overall value of your property when looking for a buyer. A finished basement is a common home improvement project among home and property owners that has the potential to attract more buyers in the future. Here are some benefits of conducting a space upgrade for your home.
A finished basement provides numerous ways to use the space, from turning it into a home office or game room to a home gym or hobby room, among many others.
Most homeowners prefer adding a full bathroom and turning the basement into a spare bedroom. Regardless of how you want to use the extra basement space, having it finished can help. A professional contractor can help with the design and additions needed to enhance its function based on your preferences.
Increase Home Value
One of the reasons why a finished basement is enticing is the fact that it adds value to your home. This is often a benefit that comes with any home improvement project, and it is estimated to have an average of 70% return on investment (ROI). This means that if you spend $15,000 on a finished basement, your home’s appraised value can increase by %10,500.
However, other factors, such as the local real estate market, might affect these values. Undoubtedly, an added living space in your home may attract more buyers than an unfinished basement, which is an excellent strategy if you are staring at resale in the future.
Another benefit of finishing your basement is to enhance energy efficiency. Most basements that are not renovated lack sufficient insulation, allowing air to escape, and compromising your home’s efficiency. A finished basement has added layers of insulation and drywall, which helps maintain a consistent temperature and reduce the loss of energy required to cool or heat your home. If you want to reduce your carbon footprint, or you are struggling with high energy bills, it might be time you considered finishing your home’s basement.
Storage and Organization
Most of the time, the available living spaces in our homes tend to feel disorganized or cluttered, and finishing a basement on a budget might solve the problem. The Basement provides additional storage space for exercise equipment, holiday decorations, and many more. With smart storage solutions like built-in shelving or cabinets, a finished basement allows you to store items securely and safely.
From additional living space to added value, there are numerous advantages to a finished basement. As the leading property management company, we work with reputable local contractors to ensure everything is done with the utmost professionalism. Contact us today and start upgrading your basement without breaking the bank.