According to many realtors, finishing a basement, or unused space within a dwelling, adds to its value on the real estate market. Turning unused space into a comfortable usable space, adds significant value. For the most part, the unused space is usually a basement, and the basement finishing options are really extensive and varied. The costs of refinishing a basement, however, are usually recoverable upon sale of the property.
There are many reasons individuals choose basement refinishing. Some simply want to prevent water from entering from the outside, and exterior and interior water prevention are some of the basement finishing options. A wet basement can cause cracks in the basement walls, mold, exterior damage, dampness, foul odors, fungus, and peeling basement paint. Even when considering a total basement finishing option, making sure the basement is waterproofed is a vital first step. Most traditional basement finishing options are wallboard or fiberglass, and waterproofing first is necessary. Newer materials however, have been developed and do prevent water from seeping into or around the finished basement walls. Whether a full basement finishing system will return as much as is spent can be very localized depending on the surrounding real estate market. However, finishing a basement is always a bonus in adding additional, comfortable living space to any home, and homeowners rarely if ever regret this decision.
Although most basements are just viewed as bleak, cold spaces for storing items that a homeowner generally is reluctant to part with, this portion of any home can become a stunningly beautiful addition with the proper basement finishing options. The transformations can be almost miraculous and the family members for the most part are always thrilled with the results. Whether it becomes a “man cave” or family room, utilization of this portion of a home, outside of mere storage, tends to delight everyone that does decide to totally refinish their basement.
Some preparation is needed to totally refinish or remodel a basement. As noted above, the water seepage problem must be addressed and solved. Pipes must be covered, and wall materials considered. Headroom also comes into play as does the overall square footage of the basement area. There is no shortage of ideas or plans that can be used to turn a catchall basement space into a beautiful and wondrous extra family living area. If enough space exists, some homeowners even go so far as to make this addition into a rental space and then recover costs through rental income. Interlocking stud walls and insulated wall panels are just two of the dozens of choices for homeowners. Some homeowners even do this all themselves if they are handy enough to understand and implement a good basement finishing option.
The costs can also vary for basement finishing options from contractor to contractor and supplier of materials to other suppliers of materials. This mostly reflects the area in which the property is located. Usage of the room space also plays an important factor in costs, as it can be just a minimalistic approach or an elaborate home theatre room, which will drive up the costs. It’s all totally up to the homeowner and their own ideas and needs.
Especially if a basement is to be finished and remodeled into a rental, good materials and a solid foundation for the walls are a must in order to ensure compliance with all local codes and also happy tenants who will choose to stay. A warm and welcoming space that is well insulated and maintained will lead to a great deal of extra rental income for years to come. Although most homeowners when considering converting a basement into a rental space look for the most cost-effective methods, renters on the lookout for a good rental are more prone to rent spaces that look inviting, and that have a warm, welcoming feel. A good basement finishing option can lend that warm and welcoming feel.
In addition, many basements have some sort of pole or column within the basement, and basement finishing options exist for these in pole wraps and other types of column wraps. These wraps can lend themselves to the overall scheme of the basement and are a good basement finishing option when they exist. Last but not least, since many basements have concrete or other types of stone flooring, including dirt, this issue must also be addressed. Dirt flooring requires subflooring and then additional flooring placed over that. Concrete and other types of stone can be covered up with good types of traditional flooring, or ultimately, even with carpeting. There is a process in place for all selections and types of flooring. Any type of flooring used elsewhere can usually be applied to a basement finishing option.
Remember, when choosing basement finishing options, keep in mind as a property owner what you want the space to look like, what its usage will be, and of course costs in selecting basement finishing options.