| The American family is requiring more and more | | | | projects yourself, eg, hanging sheetrock and drywall |
| space to spread out. Basements fill this need and add | | | | (if your basement is unfinished); painting; and installing |
| value at the same time. If you're lucky enough to | | | | basic cabinetry and sinks. |
| have one, you are ahead of the game in terms of | | | | You can call in professionals to handle things like |
| resale value. | | | | electricity, waterproofing and plumbing. |
| But, what if it's unfinished or you want to remodel it? | | | | When you are contacting basement remodeling |
| Following are four things to consider when taking on | | | | contractors for quotes, make a list of things you |
| a basement remodeling project to get the most | | | | absolutely want them to handle. Each one is different, |
| value for your money. | | | | so check several for the best price. |
| Basement Remodeling: | | | | You may want to get quotes on things like electrical |
| The Proper Use of the Space One of the very first | | | | wiring, plumbing, painting, ventilation systems, |
| things you want to consider is what kind of | | | | insulation, waterproofing, floor installation choices, etc. |
| basement remodeling project it's going to be. Are | | | | Basement Remodeling and Resell Value |
| you putting in a home gym, a media room, an in-law | | | | According to a 2006 annual cost vs. value report by |
| suite, a game room, etc.? | | | | RemodelingOnline, the average cost for finishing a |
| To properly answer this question, it's important to | | | | basement ran about $51,000. But, you recoup 90% |
| figure out your family dynamic, eg: | | | | of that upon resale. So, it's an investment worth |
| - Do you often have stay-over visitors who have to | | | | making. |
| sleep on the pull-out couch (in-law suite); or | | | | Basement Remodeling and Length of Time in the |
| - Do you work out a lot and wish you could give up | | | | Home |
| the commute and the membership fees to your gym | | | | As cited above, basement remodeling is not cheap, |
| (home gym); or | | | | but is well worth the investment. This comes with |
| - Are you starting a new business and need a home | | | | one major caveat: how long you plan to stay in the |
| office separate from the rest of the house (media | | | | home. |
| room/office). | | | | If you plan to sell, make sure you will recoup the |
| This is what is meant by figuring out your family | | | | money you spent on your basement remodeling |
| dynamic. | | | | project. While it's easy to recoup $1,000 spent on |
| Basement Remodeling Costs | | | | landscaping, it takes a steady, strong real estate |
| Once you decide on the use of the space, figuring | | | | market to recoup $50,000 (if you spend the |
| out how much your basement remodeling project is | | | | average). |
| going to cost is a simply matter of getting quotes | | | | If you plan to move within the next 3, 5 or 7 years, |
| from several contractors. | | | | ask yourself is a basement remodeling project is |
| When remodeling your basement, you can save | | | | financially prudent. |
| some money by tackling some of the simpler | | | | |