If your home has an unfinished basement, finishing it is a fantastic way to expand your living space with a fun, comfortable, and enjoyable new space. However, basement finishing projects can be pricy, depending on your goals and vision for the area. Can you still finish your basement on a tight budget? Sure! Let’s see how.
Start with A Budget
Your budget should be the first step before beginning any basement finishing project. This helps you stay on track with spending and ensure it’s within your financial means. Knowing what you can afford beforehand can help you and your basement contractor devise the right plan for the space to best remain within your budget.
Simple Is Better
The simpler your basement vision is, the cheaper it will cost. Many clients make the mistake of wanting to make their basements a luxury, fancy place, with all the latest trends, technology, etc. But, that just drives up the cost of your renovation. If you have the budget for it, go ahead and had that home theatre. But, if not, it’s ok. The basement does not need to be an elegant space – it needs to be functional, comfortable and practical.
Go With Affordable Flooring
Since it’s a basement, you can get away without hardwood floors. Consider using carpet, laminate or vinyl flooring to lower costs and still look great. Plus, vinyl and laminate flooring are great for basements due to their waterproof and mould-resistant benefits.
Find Sales
Another great way to stay within budget is to look for sales and deals. Sometimes, you may be lucky to find a great deal on more luxurious materials that saves you money and keeps your budget in check. You can also consider looking into second-hand or gently used materials and finishes to fill out your basement.
Can You DIY?
Choosing the do-it-yourself method can definitely save you money. Of course, if you aren’t sure how to properly do something, let the professionals come in and do it for you – otherwise, you can risk unforeseen expenses or even injury. You can save money by completing tasks you are comfortable doing (such as painting the walls), but always leave the more experienced tasks to the professionals. Never try to do electrical work or plumbing yourself, if you don’t know how to.
Natural Light
Make use of your basement windows or add new egress windows to make your basement brighter and more welcoming. Face it, basements are often dark and cold spaces, so you want to brighten them up and make them as welcoming and comfortable as possible. Plus, with the added benefit of basement windows that let in natural light, you can save money on electricity usage.
Get Multiple Quotes
No contractor will offer the same pricing on the same services. That’s why it’s important to shop around and gather a few different quotes to compare prices and see which contractor will give you the best price and best value. Sometimes, the cheapest quote is not the best option – ensure they have a good reputation and references. The old adage goes “You get what you pay for”, so make sure you do your research before hiring a contractor.
Gradually Renovate
If you don’t have the room to fully finish your basement right now, that’s okay. You can start the finishing project in phases. Complete your finished basement over time as your budget allows for it. This helps spread out the expense and makes the renovation more manageable on your finances.
Conclusion
You can absolutely finish a basement on a tight or small budget. Setting a budget upfront and working with a professional basement contractor will help keep your project on track and budget, and ensure the work is done right the first time. No matter the size of your budget, you can create a comfortable, welcoming, and functional basement for you and your family to enjoy.