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When I started planning my basement remodel, I nearly choked at the quotes I was getting. Most contractors were saying $15,000 to $20,000! While I certainly do love my home and value my space, that just wasn’t going to happen.
I figured there must be a cheaper way, so I started looking around. Turns out, there is. I transformed my 600 square-foot basement into a functional living space for a fraction of the price the contractors gave me, and I’m going to show you exactly how I did it.
Hardwood was my dream, but at $3-$15 per square foot, that would have been $1,800-$9,000 for the flooring alone. Instead, I went with interlocking foam tiles for the main area and epoxy floor paint for the utility corner.
The foam tiles were $0.75 per square foot and the epoxy was $85 for the remaining 250 square feet. My total initially ended up being $347.50 for my new flooring.
My mistake: I bought cheap foam tiles. I was penny-pinching a bit too much on this one and realized I probably could have afforded something a bit nicer that would last longer as well. I did end up redoing that part with a nicer tile I found at $1.50 per square foot, so the total would have been $610 (including the epoxy) if I had gone with that option from the beginning.
The fewer walls you add, the cheaper your remodel will be. How much does it cost to put up walls in a basement? The cost to finish an open-plan basement is about $2000 to $5,000 less than one with a lot of walls. The framing and drywall costs add up. You also may have to run additional electrical and plumbing.
Before you start the project, sit down with some grid paper and draw out a scale of your basement floor plan. Which areas do you plan to finish? Do you need any partitions or dividers? How will you lay things out and how does that impact the overall cost?
The cost to finish a ceiling can add up quickly. Most basements have exposed beams. You have a few options. You could always paint the beams and leave them alone. Another alternative is to install drywall and finish your ceilings for a more completed look. Drop ceilings are fairly inexpensive.
You could also get creative and install a metal ceiling or hang draperies to cover ugly parts of the construction. If you like an industrial look, leave everything exposed and hang some pendant lights from the beams.
Before you add drywall, flooring or furniture, make sure your basement isn’t leaking. There’s nothing worse than spending thousands of dollars and hundreds of man hours only to discover your basement is flooded and your hard work ruined.
Mold can also become an issue if moisture isn’t reduced. Start by having a professional inspect your basement for leaks. Wait for a rainy day and go around all the exterior walls, checking for issues. If there isn’t a rainy day, simulate one with a hose on the outside of the house.
Once you identify any issues, have those places sealed and then test again. With a little extra effort, you can prevent a future catastrophe that destroys all your hard work.
Some jobs you can easily do yourself and save money, such as painting or decorating. However, other things require a professional and may wind up costing you more in errors than just bringing a licensed person in at first. Depending upon your local codes, you may even be in violation of city ordinances if you don’t hire HVAC or electrical professionals to complete some of the work.
You don’t want to risk your family’s safety by attempting something like structural repairs or electrical wiring on your own. Pay the extra money now to save money down the line.
Finishing your basement is one of the least expensive tasks you can undertake, but will provide additional living space and years of enjoyment for your family. When these cheap basement remodeling ideas are done correctly, you may even add value to your home, making it easier to sale when the time comes.
