A remodeled basement yields a pretty impressive ROI of 70-75%. It’s well worth the effort, but the question is, what kind of effort are we talking about?
Renovating a basement isn’t as difficult as you might expect, but there are a lot of moving parts. Most of the time, you’re going to have to start with basement damage control before you can start thinking about wall colors and carpet vs hardwood flooring.
We’re here to give you the scoop on finishing a basement without any unexpected snags.
Read on for five of the best tips for your big basement remodel.
1. Assess Any Existing Damage
The absolute first thing that you will need to do is assess (and address) any existing damage. If you’ve ever experienced basement flooding or your foundation is starting to go south, you’ll need to take care of these things, first. We also recommend conducting a moisture test and investing in dehumidifiers if necessary–no one wants a moldy finished basement.
2. Put Together a Remodel Budget
Once you’ve paid the bills on any damage control measures, you can put together a remodel budget. If you have to choose between hiring less help or using lower-quality materials, we recommend trying to find the sweet spot. For example, paint the walls yourself if it means that you can opt for better flooring.
3. Check Local Codes and Regulations
You probably have an idea of what you want your finished basement to look like. Before you break ground, make sure that it’s a workable change. Local codes and regulations tend to determine what you can and can’t do with a basement, and staying compliant is crucial if you want your home to sell in the future.
4. Get the Structural Stuff Out of the Way
Now, it’s time to deal with the not-so-fun stuff: building the structure needed to make your basement functional and inviting. This includes:
- increasing insulation
- fixing, updating, or expanding electrical wiring and plumbing
- adding new walls
- installing a ceiling
- putting in flooring
Naturally, this is going to take the most time and, depending on the current state of your basement, eat up most of your budget.
5. Enjoy the Finishing Touches
Once the contractors are down and the basement is ready to go, it’s time to add the finishing touches. This includes painting if you haven’t already done so. It also includes the fun stuff: furnishing and decorating to your heart’s delight.
Renovating a Basement Isn’t Hard When You Know What to Expect
If you’re thinking about renovating a basement, it’s important to take it step by step. Start by assessing basement damage and adding structural details before you move on to the enjoyable shopping and decorating phase. The better you plan, the further your money will go.
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