Basement Transformation Tips
One of the most often overlooked spaces in a home is the basement. Here in this article we are going to mention some basement transformation tips for many homeowners. A home’s basement is merely a functional area to store laundry, heating equipment, and holiday decorations. But these homeowners are missing out because the basement space in their home represents untapped square footage and endless possibilities.
Your basement is probably the most underused space in your home. But that doesn’t have to be the case. It has valuable square footage that you can renovate to add tremendous functionality — and value — to your home with some attention, time and money.
If you’ve got a basement you haven’t optimized yet. You could have the opportunity to add functionality like a home office, guest suite, home theatre, or fitness room, and value to your home. According to Remodeling magazine. The average basement remodel has a return on investment of 70%, meaning you’ll increase your home value on average by 70% of what you spend on a basement remodel.
Renovating your basement doesn’t have to be expensive. Many basement renovation projects are easy to complete on a small budget. Here are our top budget-conscious basement renovations.
What are the best basement transformation tips for a smaller budget?
#1. Extra living room
One of the most basic ways to finish your basement is to turn the main space into a second living room. If you have children or a large family, you’ll appreciate this extra space to spread out and unwind. In addition, living rooms are not sleeping areas, so you won’t have to worry about ensuring any windows meet the fire code for sleeping spaces. And you won’t need to do any complex plumbing or electrical work.
Depending on the finishes you choose, finishing your basement into a living room should cost anywhere from mid to high single digits.
#2. Home office space
Working from home has become the norm for many Canadians. And with that comes the need for a dedicated workspace where you can comfortably focus on your work without distractions. Adding a home office to an unfinished basement will require some insulation, drywall, and electrical work but is accessible for those on a budget.
If your profession requires high concentration levels, consider adding noise-deadening insulation, drywall, or ceiling panels to help you work in silence.
#3. Guest room or suite
Is your teenager craving more privacy, or do you frequently host family members for days at a time? If this is the case, a guest room in your basement or even a guest suite that includes a bathroom could make your guests or other family members much more comfortable in your home. A guest bedroom in the basement benefits privacy since it is far removed from the rest of the house. But it’s subject to some restrictions.
For example, sleeping quarters typically need to have large enough windows for “egress,” which means they must be large enough to use as an escape during a fire. Unfortunately, many basement windows are too small for egress, which means you’ll need to install a larger window and possibly a window well to satisfy code requirements.
Bathrooms are expensive additions to a home, especially in the basement, since you’ll likely need to excavate the existing concrete. Still, they can add significant value to your home and make your guests or family members sleeping in the basement much more comfortable.
#4. Home gym
If you’re looking for a basic basement renovation that will suit a small budget. You can’t go wrong with a home gym. Home gyms are by nature utilitarian, so even if your basement is completely unfinished, you can add a home gym by placing rubber mats, adding electrical outlets for music or television, improving the lighting, and adding a heat source.
#5. Wet bar
Finally, if you’re looking for a safe and comfortable place to spend an evening with friends, a basement with a wet bar will supply everything you need for a fun “night in.” Wet bars get their name from the sink and running water they usually feature, which means they’ll require some plumbing to accomplish. Wet bars typically also have cabinetry and appliances. So this project is one of the more expensive and more impressive ones on this list.
Budget-friendly basement transformation tips:
There tends to be a wide range in the suitability of a basement for home renovation projects. Depending on the quality of your basement. You may be able to dive right into your project, or you may have to address some key issues first – which can add to your total basement renovation cost.
Here’s what you need to consider when renovating your basement:
- Moisture – A wet or humid basement will reduce the lifespan of your renovation project. Assess the dryness of your basement and add a dehumidifier or drainage system if necessary.
- Windows – Small windows are fine for some projects, but sleeping spaces need windows big enough to use as an escape route during a fire. Check your window sizes and plan accordingly.
- Existing Finishing – Your basement may be partly or finished already, which will significantly impact the scope and cost of your project. Budget your basement renovation cost to include insulation, framing, and drywall if necessary.
- Entrances – Does your basement have its own entrance, or are the access stairs in good condition? Separate entrances compliment guest suites, while interior access is ideal for a second living room.
In most Canadian real estate markets, square footage is at a premium. Many homeowners have considered purchasing a new home to have more space to accommodate family, working from home, and virtual classes. If your home has an unfinished or underutilized basement, you could add hundreds of square feet of usable space to your home without having to sell and move to a new space.
Buying or selling a home is the biggest transaction most of us will ever go through! For more tips, information and free evaluation to help you sell your current home or buy a new one contact:
CANADA GEM REALTY Inc., Brokerage Office: 416 888 9494Website: www.CanadaGemRealty.ca