Basement Remodeling: Maximizing Your Payback

By: Allison Millar, Contributing Writer
In: Necessary home improvements
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Basement remodeling is a great way to expand your living space without going through the expense and timing of a room addition. Basements are not always counted as full fledged rooms on real estate listing sheets, however, making their value somewhat intangible.

According to Remodeling Magazine, you can recoup about 72 percent of your costs with basement remodeling. Depending on the extent of the plans, basement remodeling can range from $5,000 for a quick fix up of one area to $30,000 or more for adding bedrooms or a bathroom.

Here’s how to maximize your investment in this important home improvement project:

  • Find the right contractor who has experience with basement remodeling and can provide a realistic estimate. That way you won’t be caught with extra charges at the end of the project. Check out these tips from ReliableRemodeler on drainage issues.
  • Shop carefully for materials. Flooring that is a dollar per square foot cheaper can make a big different when you’re talking about a 1,200 square foot area.
  • Take advantage of special “no interest” financing from home improvement stores and spread out the cost. Just make sure you pay it off by the expiration date or you’ll owe interest charges.
  • Do some of the non-technical work yourself like demolition, cleaning, and product selection. This saves you money and saves the contractor’s time for the real home improvement.
  • Avoid major structural changes, such as digging down to get a higher ceiling.
  • Don’t add to the project list once you start because it can dramatically increase costs.

Before starting a basement remodeling, evaluate the space for structural features, such as a tall ceiling and where necessary plumbing will go. Once you have the plan in place, it’s time to forge ahead…with a little caution, of course.

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  1. 2 Responses to “Basement Remodeling: Maximizing Your Payback”

  2. Alan
    Sep 2, 2010

    Basement remodeling is easy if you take a few steps to ensure the job comes out right. Thanks for providing good tips on basement remodeling.

    Alan,

  3. Sep 29, 2010

    Allison, those tips for maximizing your investment are very useful. Homeowners should consider adding temperature control ideas for basements. Since most basements are underground, they are cooled by the soil’s naturally lower temperatures. In order to transform a basement into a true living space, a homeowner may need to consider adding another heat source or additional ducts. If the floor is concrete, installing carpet can make it feel warmer underfoot.

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