4 Great Ways to Save on Your Basement Remodeling Costs
If you’ve made the decision to take on a basement finishing or basement remodel project, chances are you’re spending time with your budget to find out how you can save on your overall costs. Basement remodeling can be a costly endeavor, but many homeowners find that the increase in home value and the improvement to their lifestyle within the home are well worth the cost.
For affordable basement finishing, keep a few key aspects in mind.
1. Prioritize Your Needs
If you’re working with an unfinished basement as a jumping-off point, prioritizing what you want to include in your basement finishing project can be overwhelming, especially from the lens of the total basement finishing cost.
Taking the time to consider your motivations for your basement remodel can help you identify your must-haves and prevent you from allocating precious budget to aspects you won’t get much use out of.
Common motivations for basement renovation include the need for:
- A home office
- A guest bedroom
- A home gym
- Additional living and hosting space
For example, if your upstairs living area isn’t large enough for you to host the movie nights you’ve been dreaming of, it makes sense to factor a comfortable living area into your basement remodel. Perhaps you’ll want to include a basement fireplace and surround sound, or built-in shelving for your entertainment system.
In a similar vein, if you don’t find yourself hosting guests overnight very often, it doesn’t make sense to dedicate budget and space to adding an extra bedroom. While some people choose to add bedrooms simply for the resale value increase, it’s important to consider elements like egress windows and closet space if you’re hoping to add official bedrooms.
Finally, as you sort through your basement remodel ideas to determine how to stay within your budget, consider whether you need to finish the entire space. If all you need is a home gym, does it make sense to finish the whole basement? Being intentional about how much space you’re finishing will help avoid unnecessary costs.
2. Choose Flooring Strategically
Basement flooring can be tricky because basements are notorious for moisture issues. Before beginning your basement remodel, have your basement foundations checked for any signs of moisture and treat any existing concerns. Once drywall and flooring are installed, any level of moisture can pose a large risk of mold.
Common flooring options for basement finishing include:
- Gym flooring
If you live in a place that does see a fair amount of moisture or have experienced water issues in your basement before, it may be easiest to stay away from carpet. Vinyl flooring has come a long way: luxury vinyl plank (LVP) flooring is very attractive while also offering durability, making it a popular choice for basement finishing.
If you plan to convert an area of your basement into a home gym, you can save on flooring costs by opting for gym flooring like foam tiles, which won’t need professional installation and tend to be less expensive.
3. Keep It Open
As you come up with basement remodel ideas for the overall layout, keep in mind that the most affordable basement finishing floor plans are quite open. Keeping your space open means paying for fewer walls, meaning fewer studs, electrical wires, doors, drywall, and more.
For aspects like bedrooms and bathrooms, walls will of course be necessary. However, can your workspace, gym, and rec room coexist without a wall separating them? Leaving your basement more open will also allow for more flexibility for whomever purchases your home later on.
4. Hire the Right Team
Above all, the best way to make the most of your budget for your basement remodel is to work with the right team. As you research professionals in your area, consider the public reviews of their past services, any available customer referrals, and whether they are bonded, licensed, and insured.
From there, request estimates from your top options for professional services and take note of how well they communicate, their customer service, and the estimate itself. Choosing the best team for your needs is a crucial step to creating the basement of your dreams, within your budget.
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