If you’re looking to add living space to your home without breaking the bank on a costly addition or renovation, finishing your basement is a great option. Not only does it add value to your home, it provides a space separated from the rest of your house to be anything you and your family needs it to be. Playroom, bar, a space to gather, or all of the above – anything goes! Below, we offer some simple tips on how to start and finish your basement with cost and timeline in mind.
Scope Out Your Project
While doing things as you go can be tempting, tackling a medium to large basement project can get away from you pretty easily if you don’t have a plan in place. Determine your budget and timeline first. Once you have that established, you determine if you want to do a full or partial refinish, what materials fit in your budget, and which parts of your project require a professional – as well as help you stick to that predetermined timeline.
Flooring
Flooring can be costly, especially if you’re dealing with a large area. To keep costs down, consider going with luxury vinyl tile (LVT) or or plank (LVP) over a traditional tile or hardwood. Not only is there a large range of options at varying styles and price points, LVT/LVP is also water resistant which makes it perfect for a basement space. If you’re looking to create some dimension and warmth, adding large high-pile area rugs in living spaces or play areas are a great way to do just that.
Some other great and cost-friendly options for flooring are carpet tiles, or cleaning up and painting your concrete floors with epoxy or acrylic latex.
Ceiling
There are a few options to consider if you need to finish out your basement ceiling – sheetrock, ceiling tiles, or paint. Sheetrock is more affordable than ceiling tiles, but can make accessing areas that may be in need of repair or updates in the future difficult. The most cost-effective option that doesn’t restrict any access points is paint. If you’re comfortable with a more open, industrial feel this is also a great DIY option. If you don’t have a paint sprayer, you can rent one from stores such as Home Depot or Lowe’s – just make sure to check which locations near you offer tool rental.
Bathroom
If you’re looking to incorporate a bathroom into your basement budget, the first tip to save big is to position your basement bathroom directly below an upstairs bathroom. This will limit the amount of piping your plumber has to install. If you’re installing a full bath with a shower, opt for simple and classic tile and hardware that won’t require frequent updates.
Get DIY Savvy
When it comes to items such as framing, electrical, insulation, HVAC, and plumbing work we highly suggest you work with a local professional to ensure your basement is done to code. However, for other items such as trim, shelving, cabinetry, painting, or even flooring, there are many resources available such as DIY books and videos that can assist you with cutting costs and doing these things yourself. Don’t take on more than you can chew, though! DIY can be time consuming, so do some research first to determine the cost vs. benefit of hiring a professional for each item on your to-do list.
The Finishing Touches
Since the basement is removed from the rest of the home, it’s the perfect spot to take some creative liberties and have fun! Don’t hesitate to do some bargain hunting to make your space exactly what you’ve envisioned. Hit thrift stores or local markets, cruise the clearance section of your favorite retailers and furniture outlets, or have your kids help you with some crafty DIY decor. The possibilities are endless!
Looking for more budget friendly renovation ideas?
Check out some of our previous posts sharing tips on how to update your home while keeping it on budget.