Basement Renovation Ideas
This is a collection of basement renovation ideas. They are
not in any particular order, and I generally don't suggest what
the cost of any of these would be. However, these are improvements
that should have a high return on investment. It is difficult
to say for sure how much a given improvement increases the value
of a house, but I aim for things that pay back three-to-one.
In other words, if it costs $2,000 it should add $6,000 or more
to the value of the house.
As outlined on the page Basement
Renovation - High Return on Investment, basement renovation
may be one of the surest ways to make money on a fixer upper.
This is because basement space is generally undervalued in most
parts of the country. As a result, you can buy space cheap, make
it livable, and then sell it at full price. Here are some of
the improvements that you might consider.
Basement Renovation - Bedrooms
There is a big difference in price between two-bedroom and
three-bedroom houses in most areas. This provides an opportunity
to create a bedroom in a basement and quickly increase the value
of a home. There are two basic types of bedrooms you can make.
The first is a non-conforming bedroom, meaning it doesn't
meet building codes for use as a bedroom. You can't advertise
it or represent it as a bedroom, but the buyer certainly can
see whether they want to use it that way. I know an investor
who added a bedroom like this for under $1,500. All it took was
one new wall and a door. The existing cement-block walls were
simply painted, and one already had an outlet. Carpet and a drywall
ceiling finished the room.
To get the most out of a bedroom, though, you probably should
make it a legally conforming one. This usually means installing
a window that allows a person to exit in case of a fire. Be sure
to hire a contractor who knows the codes and gets proper permits.
Two bedrooms can be added with just the addition of two walls,
if the existing basement walls are decent enough to simply be
painted. Just wall off one end of the basement, put in one more
wall to create two rooms, and add two doors. Depending on what
needs to be done for replacement windows, you might get a replacement window
price for two bedrooms made for under $10,000.
Other Basement Renovation Ideas
- Family rooms are easy to make in a basement. Just paint
the walls, hang a tile ceiling, and carpet the floor.
- An office can be built more simply than a bedroom, because
windows don't have to be fire exits.
- Cement-block walls can be painted to keep renovation costs
low. Otherwise, 2-by-2 inch studs can be anchored to the walls,
with insulation and drywall for a warmer fell and more aesthetic
look.
- Foam-backed carpet can be glued directly to the floor for
the cheapest covering. Other options include hardwood flooring
that can be glued down, or making a raised floor with 2-by-2
inch studs and OSB.
- A bar and pool table make a basement a fun place to be.
- Depending on what else is done in the basement renovation,
you might get away with just painting the existing ceiling of
floor joists and whatever else is there. Other ideas include
drywall or any of the various ceiling tiles.
- If the land around the house dips substantially on one side,
you can create a patio, and a sliding glass door can be installed
in the basement, to make it a walk-out.
- Light colors will brighten up a basement - especially important
if there are no windows.
All of these basement renovation ideas assume that you have
a worthy basement. It should be absolutely without water seepage
(general dampness can be remedied with dehumidifier). And, of
course, if you are doing this to flip a house for a profit, everything
you do should increase the value of the home substantially more
than it costs to do it.
Tips For Flipping A House | Basement
Renovation Ideas |
