When buying a home, most people don’t have any idea how their lives will change during the time they’ll live in the new place. That’s why many buy to fit their current needs, with or without giving thought to performing a basement renovation at some point in the future.
But basements are an often overlooked source of living, entertaining and working space—or some combination of those uses. So rather than moving on to a bigger or better home within just a few years of purchase, why not consider a basement refinishing instead? By taking your lifestyle and future life plans into consideration, you can purchase the home that’ll fit your needs for years to come—without having to move!
Sometimes it’s hard to know what to do with a basement. Before they’re converted to usable space, many lack natural light, and feel cold and unwelcoming.
But that basement of yours has a lot of potential you may not be aware of. For instance, by adding surround sound, high-quality speakers and comfortable seating, you could be enjoying your evenings watching movies with your family in your new home theatre. If you’re a budding photographer who needs a place to develop pictures and store specialized camera equipment, your basement renovation may best be served with the installation of a dark room in your concrete jungle.
Maybe you’ve been thinking of starting a home business and need a place you can spread out, do your books and order supplies. By considering these needs before they occur, your basement can meet your changing needs, while providing a beautiful space you can be proud of.
Some people try to cut corners on basement renovation by using poor quality materials and cheap labor. But as with anything else, you get what you pay for. If your contractor uses substandard construction materials, like wood framing that promotes mold and mildew growth or fiberglass batt insulation that loses its insulation value when wet, you may end up redoing what should have been done correctly the first time—and spending additional money to make things right.
On the other hand, if you’re concerned about the environment and want to do your part to support a green planet, you might want to include some environmentally friendly items when finishing your basement. Fluorescent lighting can be one choice pick, using much less energy than incandescent lighting. Recycled glass makes a beautiful backsplash in a basement kitchen or bathroom. And double-pane windows keep you from leaking excess energy and wasting additional money on heating and cooling bills.
Though your home can be remodeled to fit your needs as time goes by, most people eventually decide to move on, whether due to job relocation or some other life situation. And when that time comes, you don’t want to lose the money you’ve invested in your basement renovation by having overbuilt your home for the neighborhood. If that happens, you may not be able to recoup the cost of your basement renovation, and you may end up sacrificing the finances that go toward your next home.
To avoid making that mistake, talk to a professional realtor in your area before proceeding with your basement plans. By knowing average and top-dollar values in your area, you’ll have a better idea how much you should spend on your basement remodel.
Penny M. Hagerman is a communications expert and marketing professional living in Denver, Colorado. Penny lends her talents to businesses nationwide and enjoys helping them grow and prosper.