IMPROVE THE EXISTING SPACE
The key to building the best basement is to create useable space. You don’t want to spend thousands of dollars on a
home gym or theatre project if you don’t have the room to
move around, stretch, set up the equipment or properly
position speakers. So be aware that a full-scale basement
renovation will likely require the moving or taking down of
existing walls. Should the space be unfinished, you may
need to box immovable items like basement support posts.
CEILINGS
Ceiling height must be a prime consideration. Most new
subdivision homes have ceilings at least seven feet high, however older homes do not. In cases where the ceiling is
low, some owners will need to dig out concrete floors and repour
new ones to give their basements more height. 82
inches is the ideal minimum for a basement ceiling;
anything less and you’ll start to feel cramped.
PROPER DRAINAGE
Rough-ins for basement bathrooms, kitchens and bars are
also a consideration. Builders often put pipes into the
concrete, saving you valuable time and money when you
want to renovate. If you have them already, your job is much
easier. If not, however, you’ll need to think about drains and
other considerations.
TRENDS IN MATERIAL
Like any home renovation project, a basement project can
be done luxuriously or on a budget. Do you want engineered
hardwood floors, laminates or carpeting? Do you envision a shower-spa with tempered glass, stone walls and heated
floors? What about a custom bar with a granite counter top?
Or enhancing the basement with French doors, crown
moulding and higher end trim? The possibilities are endless and, ultimately, the cost will match your budget. However,
be sure to go over all the items with your contractor so
you’re aware of the costs upfront. |
WALK OUTS
Walkouts from basement apartments are great lifestyle
enhancers and allow family members or tenants to come
and go as they please. However, these are fairly complex
projects and can be quite costly. Always leave a job like this
to professionals, as walk out projects often require drawings,
permits, and serious excavation.
FINDING THE RIGHT PRICE
The costs of a high-end basement renovation vary. Without
a bar or kitchen, you could expect to pay about $40 per
square foot for an average basement project of 1000 square
feet. Bars, kitchens, and bathrooms require more work and
therefore you should budget appropriately. For those who
aspire to have the ultimate ‘WOW’ factor, the high end, ultra
luxurious lower level makeovers can easily start at $75,000.
As for investments, renovated basements provide a 50 to
75 percent return. And if you are renovating to sell your
home, keep in mind that basement bathrooms and
bedrooms are the most desired attractions for potential
homebuyers. You might not need them daily, but buyers will
appreciate room for extra guests.
Basement renovation projects can be enjoyable and
rewarding, however, they require pre-planning, budgeting
and the right materials. A little professional expertise also
doesn’t hurt. Ultimately, a new basement makes your home
stand out. It also helps you get the most out of your life’s
biggest investment.
Sam Beninato is a nationally acclaimed home renovation expert and
President of RENOCanada. He is the bestselling author of How to
Make Your Bathroom Cost Free and has been a regular guest on
HGTV. For more information on luxury basement makeovers, visit
renocanada.com or email Sam at sam@renocanada.com.
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