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Basement Ideas on a Budget

Whether you are running out of room in your current home due to a growing family or you would simply like to make the most of the available space in your property, finishing your basement could prove to be an excellent investment. In addition to helping people make the most of their homes, well-executed basement renovations often increase the value of properties too. Many homeowners are reluctant to renovate their basement owing to the fact that such home improvement projects are notorious for going way over budget and taking too long to complete but this needn’t be the case: with careful planning and the right general contractor, it is quite easy to complete a basement renovation on time and within budget.

Home Renovations that Make Sense: Top Tips for Budget-Friendly Basement Renovations

Rather than simply present you with a list of cool ideas for what you could do with your basement – games room, home theatre room etcetera – we decided to provide you with some handy tips that will help you to complete your renovation project without spending more than you planned. Follow the suggestions below and you can ensure that your project is finished on budget and on time.

  • Decide Exactly What You Want to Do with Your Finished Basement This first tip might seem a little obvious but you would be surprised at the number of homeowners whose renovation projects go over budget because they start them without a clear idea of what they are trying to achieve. If you are not sure what you want to use your new space for, you will find it very difficult to obtain accurate quotations for the work involved.
  • Fix a Budget – Once you are clear on what you want to do with your basement, decide on an amount that you are comfortable spending on the renovation project. Only when you have done this should you move on to the next step.
  • Obtain Several Quotations – Contact 2 or 3 local companies that specialize in home renovations and request detailed quotations for the work that needs to be completed. Make sure that each quotation covers all the labour and materials that will be needed, so you are comparing like for like. Once you have checked each company’s credentials, you can then choose the one that submitted the most attractive quotation and move forward with your project.

  • Avoid Feature Creep – Once you have picked a general contractor and the project is underway, avoid the temptation to keep adding to the scope of work because this is one of the most common reasons that basement conversions go over budget. When you are at the planning stage, make sure that your plans include everything you want and you will be less likely to fall prey to feature creep.

Follow the above suggestions and you will vastly improve the odds of your basement renovation being completed within the agreed budget.

Inexpensive Basement Renovations

If you are having problems coming up with good ideas for your basement conversion project, you may like to consider the following relatively inexpensive options:

  • Music Room – Whether you play an instrument for fun or you are in a band, a partially-finished basement is a great place to rehearse and practise. Leaving the joists exposed and keeping the cement floor will reduce the overall cost of your project and provide a great atmosphere for writing and playing music.
  • Basement Kitchen – If you have always wanted a large kitchen like the celebrity chefs have in their homes but just don’t have the space, now is a great time to realize your dreams. Rather than laying a new floor, you can paint the concrete floor your basement already has, and you won’t need to finish the walls where your kitchen cabinets are going to be hung.

  • Laundry Room – Perhaps not the most exciting idea but a practical one that doesn’t require you to spend too much on finishing your basement.

Whether you decide to go for an idea that utilizes a partially-finished space or one that requires you to completely finish your basement, your home renovations should go more smoothly once you start to follow the tips in this article.

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