How to Finish a Basement Without Finishing off Your bank account

Posted on September 11th, 2010 by admin in Basement Remodeling Resources, Basement Remodeling Tips

No matter how big your home is, you know it could always be a little bit bigger. Whether you’re in the throes of parenthood and trying to find spaces to stash your kid’s toys, or you’re starting a home business, you could probably use an extra room or two. One way to get more space is to buy a whole new house. For those of us in the real world, though, a far more economical and practical solution is to finish the basement.

Yes, that creepy, crawly dungeon can be turned into a playroom for your children, a home office for your bustling new business, or an entertainment room for the weekend’s big game. You’ll just need to cover over the cold concrete floors and the gray foundation walls. Then there’s the pipes hanging from the ceiling that you’ll want to hide, and the washer, dryer, and storage boxes that you might want to section off.

OK, maybe this project isn’t sounding so practical or economical anymore. But actually, despite the time and effort that goes into it, finishing your basement is basically easy and cheap,if you know how to go about it the right way. There are eight key considerations you ought to make if you’re down with finishing your basement. They’ll help you figure out how to go about it, as well as help you decide if you really want to go about it in the first place.

1: Just how much value will the basement add to your home. Chances are, a finished basement will make a buyer want to offer more to buy your home. But by how much? To be worthwhile, make sure the increase in your home’s value will over-compensate what you spent to finish your basement. Talk to neighbors who have finished their basement, or do research online or with your real-estate agent to see what houses are worth in your area, with and without finished basements.

2: Have a good sense how long you will be in your home after you finish the basement. Sure, a finished basement will bump up the value of your house, but you also want to be sure you will get some value yourself out of all that new space.

3: Be realistic about costs and work time. Depending on your basement, finishing it could be more intensive than you first imagine. Can you really spend $10,000 at this time? Do you want contractors in your home for two weeks?

4: Local laws may have something to say, too. Hiring a contractor or doing it yourself, whatever way you decide, you may have to comply with local or state codes for such construction. Again, a neighbor who has recently done a similar home renovation could be a wealth of information, as well as municipal or state Web sites. Following such regulations may seem like a pain, but they may help you prevent real pain that comes from injuries if you carry out your project without safety codes in mind.

5: Ok now you decided its a good idea to finish the basement. Once you determine that it will be worth going through with the project, you need to figure out what sort of room you want. Will the theme be a spare bedroom, a playroom, a gym, office, home theater, etc.?

6. Time to start shopping around for all your necessary appliances and furniture. Do your research on price and selection and get your best value. In many cases,such as with office furniture or fitness equipment, buying used is the way to go. Used stuff can be none the worse for wear, and at online classifieds or auction sites, you can get great deals on it.

One Comment on “How to Finish a Basement Without Finishing off Your bank account”

  1. Medical School Admissions

    hello!, thanks for the info, this post was really nice.

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