Do you know that you are literally sitting on a potential home improvement goldmine? And this wellspring that can significantly increase the value of your home with about 70{0769f9e165250301569ce67f54c3b81bedf5c586a0e9647f6b8ae1e655ecebb0} return is your ugly abandoned basement! Remodeling a basement into a liveable space ranks among the top 10 remodeling projects. According to the data, in 2017 homeowners could recoup almost two-thirds of their costs for a finished basement conversion. Basement renovation project can transform it into a large, beautiful subterranean living area, making your home more versatile and expanding the usable square footage. However, finished basement project can turn to be a serious and expensive undertaking. On average, the cost to finish a basement and transform into a livable space varies from $6,500 to $18,500. Basement remodeling projects that aimed to replace or improve existing features are pricier – between $10,000 and $30,000.
To save your time and money it is essential to get ready for your basement renovation project wisely.So, what steps should be taken to start out?
- Set realistic project goals that won’t bust your budget. The way you’ll use your finished basement dictates how extensive improvements need to be.
- Hire a respectful contractor with enough experience in basement renovations who would save money decreasing the risk of having to redo or tear it out.
- Engage professionals for a thorough inspection of the basement area. Stains, white powder, cracks and water leaks on the foundation walls and floor should be eliminated.
- Plan your project. Prepare design and quote of your finished basement with your contractor. Choose standard materials and fixtures, avoiding premium prices.
- Check the codes
- Renovations that are not bound by codes typically include painting and woodwork, installing trim and basement floor installation.
- Framing, plumbing, HVAC, insulation/fire stopping, and electrical work must be inspected by local municipalities and building
- Get required permits
- Detect required works
– Waterproof your basement, add a drain
-Account for outlets and windows
– Plan electrical works
– Check rough plumbing and fix water leakage
– Seal a basement floor
– Install basement flooring and ceiling
– Installdoors, trims or windows
– Renovate basement stairs
Keep in mind that you require a lot of technical inputs from contractors and even city officials. Besides, fixing mistakes may cost you a huge sum of money. Ensure that as a homeowner you establish good communication with the contractor.
Rolland is a dedicated writer and storyteller with a passion for exploring diverse themes through his work. With a background in literature and creative writing, Rolland has contributed to various publications, offering insightful perspectives on a wide range of topics.