Basement Finishing on a Budget

One of the biggest trends of the 21st century has been to maintain the homes we live in and refinish the basement to expand our living space. Much of this has been caused by the state of the economy and the fact that the housing market has stagnated. Homeowners, faced with mortgages that now exceed the appraised value of their homes, are looking for ways to increase the value of those homes, as well as add living space. Expansion into basement areas is a natural thing. The cost of finishing the basement is much less than building an addition to your home, and your expenses can dramatically increase the value of your home.

The first thing to consider when deciding to renovate your basement is what function you want the extra space to serve. Looking for a playroom for the kids, extra bedroom space, or a cozy family room? Do you want a bathroom in the basement area? A laundry area? All of these items are considerations to think about before making any decisions about floor coverings or paint colors. You can take measurements of the space you have to work with and transfer them to graph paper to come up with a design that meets your needs.

Second, you need to assess the condition of the space you are seeking for your basement finish. If some finishing work has already been done and all you need to do is update the area, the cost of finishing the basement won’t be as high as if you were starting with a totally undeveloped space. Will you be able to just lay new carpet or will you need a special underlay underneath? What about the walls? Is the stud already in place or will you have to build your own? All of these questions will give you the answers you need to successfully plan your basement finish.

Once you’ve decided what you want and what it will take to get to that point, you can start doing some research online or at your local home improvement store to determine the types of products and materials you should choose. of. There will even be remodeling classes you can take at nearby stores that will help you develop the skills you need to do your own remodeling and will keep the cost of basement finishing at a level that fits your budget.