If you need more space in your home finishing your basement can be a great way to achieve just that – not to mention that it can add thousands to the value of your home should you ever decide to sell it.

In fact, a 2005 Cost vs. Value report in Remodeling magazine estimated that although the cost of the average basement remodel is somewhere around $5,100, that investment pays back 90.1 percent of those remodeling costs at resale.

Decisions, Decisions

There are so many options open to a homeowner considering a basement-remodeling project. That dank empty space can be transformed into a cozy family room, a guest bedroom, a home gym or even perhaps a wine cellar, the possibilities are endless.

Getting Off to a Good Start

But before you begin any basement remodeling project there are certain preparations to be made. As basements are notoriously flood prone is essential that you search for and address any and all cracks in the foundation. If your basement is prone, as many are, to excess moisture that must be dealt with too, before any real work begins.

Check Your Wiring

Chances are that remodeling your basement will involve adding a great deal of new electrical wiring and possibly plumbing too. This should all remain accessible for easy maintenance once the project is finished. One way to achieve that is to install pre-finished panels that can be easily removed when and if necessary.

Addressing Structural Concerns

When it comes to the ceiling many people choose to go with simple plasterboard, but if you have the height suspended or acoustic tiles work well too, especially to keep the noise of the traffic upstairs to a minimum. When it comes to flooring, most professionals recommend installing a completely new sub floor rather than simply installing tiling, laminate or carpeting directly over a concrete floor.

Choosing Great Lighting

Choosing the right kind, and amount, of lighting for your basement remodel is key to the whole project. Most basements are naturally far darker than the rooms above ground, and to ensure that your remodeled basement loses that dark and dingy feeling the lighting you install should be not only sufficient for creating a great ambience in the room, but for performing specific tasks as well. Track lighting can be one great way to fill your basement with all the light you need.

Color Concerns

The paint colors you choose can make or break your basement remodeling project, so take the time to choose them carefully. Bright and bold does work well in a basement space, but remember that colors that have worked well in the rest of the home may look very different in the basement, as the play of light is so very different.

The Bottom Line

Exactly how much your basement remodeling project will eventually cost is of course all down to the specifics you require. Making a careful and well thought out plan up front can help keep costs to a minimum, and if money is tighter than you would like, you could complete the basic framing of the rooms to be added in your basement and then finish them one by one, as your cash flow increases.

The whole idea behind remodeling your basement is of course to add a space that compliments the rest of your home. Economizing too much, using shoddy materials and mismatched furnishings will not achieve that. Instead, you will create a space that is uninviting and goes unused. However, with the right amount of money and effort your basement really could become the most desirable area in your home.

By Melanie Rivera