Basement Remodel: Is It Time to Do Yours?
Basements remodelling has been among the most popular renovation projects in the past twenty years. The two most common renovations are the kitchen and bathroom, and according to the reports of about 30% of contractors, they are followed by basement remodelling. The reason why so many people opt for basement remodelling is that it allows them to expand their living space. Also, home additions usually cost double and usually have a lower return on investment.
If you’re considering renovating your basement, think about hiring a certified contractor to inspect your heating and plumbing systems, spot any alarming issues and help you with the ballpark estimate. As things can get quite complicated and intimidating, here are several steps to take in order to make the most out of your basement project.
Firstly, make sure you do the research and go through all the steps of the renovation project before you start. Almost any house remodelling requires a permit, which is why you need to get to know the local building codes and regulations. Sometimes the process of obtaining the permits can last a while, so knowing all the legal aspects can help you set a realistic timeline.
If your plan includes renting out your basement in near future, be prepared for a separate set of requirements, which usually include a separate entry/exit and bathroom. The difference in cost is enormous, especially when you take into consideration how prospective tenants affect your taxes, mortgage rate, and regular maintenance.
A fully-renovated and furnished basement won't only provide you and your family with an extra living space, but it will also add significant value to your property, which will come in handy if you ever decide to resell. That’s why details matter and there’s no room for mistakes. For many homes, basements are weak and sensitive parts of the house, so make sure that when renovating, you turn it into a space able to withstand wear and tear.
Consequently, having water-resistant flooring is a must. Apart from concrete floor treated with epoxy flooring solutions that will give you a durable, easy-to-clean, corrosion-resistant surface, you can also choose ceramic tiles, engineered wood, laminate or vinyl flooring. No matter the choice you make, be sure you install a moisture and vapour barrier, so that the floor doesn’t become a haven for mould.
The need for more space
One of the main reasons why many homeowners decide to remodel their basements is the lack of space for their growing families. The basement makes for a perfect place for extra bedrooms, another family room, a home office, a media room, a home gym or a playroom. Playrooms are a great out-of-the-way place for the little ones to have fun but it can also incorporate some elements for older members to have a good time as well, such as a foosball table, air hockey or a pool table.
Very often, it becomes a partial storage space that takes the burden off of the garage and cluttered closets upstairs. If it’s nicely tucked away in hidden wall storage, it will leave enough room to convert the rest of the space into a secondary suite for an elderly parent or just visiting relatives. In either case, it will add significantly to the overall value of your home.
Even though the basement is the lowest point in your home, it probably hides great potential. If you give it the same treatment as any of the rooms upstairs, fix all the cracks and leaks, brighten it up and give it a facelift, you just might end up creating the most popular room in the house, and probably for a lot less money than if you were to add a new room or a second floor.