Basement Renovation Tips That Dramatically Increase Your Return on Investment

If you have been seeking the motivation to start a basement renovation project, this may just be it. According to research done by Remodeling Magazine, refinishing a basement is more profitable than a kitchen or bathroom renovation. In fact, updating a basement can yield a 72% return on investment. With the current GTA real estate market, a professional basement renovation is a smart way to significantly increase the value of your home and create more space for enjoyment.

No matter how dark or dingy your current basement may be, provided that the ceilings are a decent height and there are several windows, there are a variety of options that you can use to design a refreshed and vibrant space to suit your lifestyle. Before launching into any project, you should have a professional access its potential and recommended what some of the most suitable options can be along with an estimated budget to remodel the layout you have.

Whether you are looking to design a recreation room, additional bedroom or an office, there are several basement renovation tips to keep in mind and incorporate to help drive a dramatic return on investment.

Eliminate Mold

The complaint that most people have about basements is the ‘musty’ smell. With any underground space, there is always a chance that water will seep in.  The frequently used sheetrock walls in basements, unfortunately, provide a hospitable environment for mold spores to flourish between the wall and exterior layer, keeping mold concealed and difficult to remove. By choosing materials such as fiberglass or PVC, water will not become trapped and grow mildew. Fiberglass may sound very industrial, but there are a variety of options including Teflon coated linens that can be placed on top of the walls to create any type of finished look that you can imagine.

Flooring

Ditch the dismal concrete or gray utility carpeting. Provided that your basement space has no moisture problems, plush carpeting can create a lush, warm look and is relatively easy to install. If you are concerned about moisture problems, there are other great alternatives to carpet. Most basements have concrete floors which can be stained and finished to create a stunning and inviting look, and even can be created to appear like hardwood flooring.

Lighting

By maximizing natural light, suddenly your basement will not feel like being in a cave. A great option is installing egress windows, which are larger as they are partially dug underground and almost appear like a well from the outside of your home. These windows let the light pour in and also double as a fire exit. Solar tubes can also be used to funnel natural light into your basement. By placing on the roof or exterior walls, a series of tiny mirrors guide light to travel through the tube and can be positioned to shine in dimly lit corners where light from an egress window cannot reach.

Bathroom

Installing a basement bathroom is another surefire way to increase your home’s value. Not only does it add another bathroom, but offers the convenience of not having to go back and forth upstairs.  Different options can be considered to maintain your renovation budget, such as ‘upflush’ toilets which do not require new pipes to be installed under the concrete and can be placed on top of a finished surface. With these toilets, the water flows through the back and pumps upwards to your sewer line, plus they save on installation costs.

Impactful basement renovations are ones that provide flexible areas for family activities and entertaining guests. By creating a combination of open living space in addition to a guest bedroom or office will significantly add value to your home and appeal to buyers. If you are looking for an immediate return on investment, consider renting your basement space as an apartment or the additional room on Airbnb when not being used for guests.

By following these guidelines during a basement renovation you can not only increase your enjoyment from the new space and rooms in your home but also be confident that your return on investment will be well worth the effort.