When looking for ways to add value to your home, consider finishing your basement, rather than adding on another room. Especially in Colorado, this is a great way to gain the additional space you need, while recouping nearly 100 percent of your investment—and spending 50 percent less doing it.
Before you start to finish your basement, there are several things you should think about to ensure you get the space you need—and one you can be proud of. One of the best ways to do this is to develop a plan based on the amount of money you want to spend.
Planning on taking out a home equity loan to pay for your finished basement? First make sure you hold enough value in your home that you can reinvest some money back into it. Is a second mortgage in the works? That provides another way to boost value, while investing in your home and future. Additionally, if you’ve saved up some money for your basement renovations, that’s another means of getting the space you need, without having to make monthly payments.
Once you have a financial plan in place, it’s time to hire a contractor. Doing business with a professional with the proper experience ensures that construction is done legally, up to code, and with the proper permits. It also results in a high quality, seamless product you can enjoy for many years afterward.
When considering working with a particular professional, like those here at Basements and Beyond, it’s wise to ask plenty of questions. For example, how long have they been in the business? Can they provide recent and reliable references? Do they have any areas of specialty that might benefit you in your basement refinishing? Do they provide a warranty for the work they do? And perhaps most importantly, are they licensed and insured?
The answers to these questions help protect you and your home while construction is in-process.
Before he begins work, your contractor will need to know several things:
A good way to make sure that you and your contractor are on the same page is to have architectural plans drawn up, and then go over all the details together before the work starts. Talk about the placement of walls, closets, plumbing, support columns or beams and vent ducts.
If you have any questions or don’t like something you see, now is the time to ask for changes. You don’t want to end up with a space that doesn’t work and have to face wasting the cost of labor and materials in order to start over.
Now that you’ve developed a financial plan, hired a contractor and opened the lines of communication, it’s time to finish your basement.
So get started today by requesting a free estimate, and move ahead with your plans. You’ll get the additional space and quality workmanship you need—along with a great investment!
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.