How to Plan a Finished Basement in Your Budget

How to Plan a Finished Basement in Your Budget

- in Real Estate

Most of the houses these days have basements. For many families or an individual, they don’t really serve any purpose except for the storage. Unless you are an innovative passionate person and want to transform that useless storage space into a useful leisure reading or relaxing space or reserve it to accommodate your guests. However, before you start using the place, you must transform it. Let’sdiscuss on how plan on the renovation or construction of the basement. No matter what and how you are doing, there are two factors for planning your budget to see your ‘Finished Basement’.

Factor One: What’s my budget?

Now, this is pretty important. Especially, when you are not the owner of one of the Fortune 500 companies. Carefully, decide the places of purchase that are budget friendly. Your budget may vary depending on whether you are in urban, suburban or an estate. You have to estimate the size of your land with to know the minimum and the maximum cost. Let’s say, per square foot it might cost you between £25-£80, depending on the design and equipment. You also have to plan the list of things you need such flooring, electric bulbs, furniture, ceiling material, decors, waterproofing. You may have to include the building and planning fees.

Image result for How to Plan a Finished Basement in Your Budget

Factor Two: Who’s building my basement?

Your budget is quite ready but don’t finalise it yet. You have to decide who is going to build your basement. Here are the three options for you. You could opt for Basement finishing system; go with a contractor or simply do it yourself. If your basement is already constructed and just needs a remodelling; I’d suggest the third option. However, don’t take my word yet.

  • Basement Finishing System

If you go for a Basement finishing system, the cost would be in thousands but it could be worth it. You will be working with a company; similar to the interior designers and leave everything in their hands. They mostly use high-quality materials and they don’t need your guidance. They ensure the insulation is used for the walls. However, you have to be careful when you are adding extra features to the basement. There might be extra charges added to every feature you add. Hence, do your research, yes more research, on the company, look for the people who used their service and then go for it!

  • Contractors

If you choose to give it as a contract, you are the designer but the budget may not be under your control. The contractor will mostly follow your guidelines, and get the materials and then gives you the furnished space. Hence, it is almost like giving it to a Basement finishing system. The advantage here is, all the purchases made will be transparent and you can raise or lower the budget and change the design as much as you wish. Keep in mind, the changes we are talking about is, before beginning the work. You will still have to be prepared to spend a five-figure sum for it.

  • Do It Yourself

We have come to my favourite part. You would probably want to hire a handyman for helping. Doing it yourself involves a lot of work and time but it is indeed budget friendly and 50% lesser than the above options. However, you still have to use the insulating material for the wall and the right type of flooring and lighting. You are in charge of all the purchases, which is good. So, you have to be patient until you have done a great amount of research before starting the work.

It’s your property and no matter who constructs or renovates it. Go ahead and pick the right options and decide the right budget and in a month or less you will have your ‘finished basement’ and you might even want to boast a little in front of your friends and family.

Leave a Reply

Your email address will not be published. Required fields are marked *