by Venice Kichura

Created on: January 22, 2008

Although basements are excellent for storage, you're probably better off refinishing your basement if you can afford it. Chances are it will soon become the favorite room in your home. At least that's the case at our house. What was once a cold, dark, ugly room has been transformed into a comfortable family room/office that's now become the favorite room of our tri-level mountain home since we remodeled our basement last fall.

Why Remodel Your Basement?

More living space-If you have a growing family, a remodeled basement can provide an area where you and your family can relax and spend time together. On the other hand, if you're an empty nester, like myself, a basement is ideal for an office, exercise room, sewing/craft room, or however you plan to use it.

Increased value of your home-Remodeling your basement can increase the value of your home by at least 30 percent. At least that's what our drywall professional, Shane Sosebbe North Georgia, told us the day he finished up the job on our basement

Cost of Remodeling Your Basement

The cost of remodeling a basement depends on the size of your basement, as well as how elaborately you want it to be. Do you want to convert it into one big room? Or, do you plan to include a small kitchenette, complete with a wet bar, as well as an additional bedroom and bathroom? Of course, a full-size basement, made up of more than one room, is pricier than a 400-square foot single room. Although it's been estimated that the cost of finishing a basement is about 10-15% of the cost of your home, it doesn't have to be that expensive. We recently remodeled our basement for a total of about $5,000 and our home is valued at around $183,000.

When determining cost, you must factor in several expenses. Most basement remodeling jobs include installing a ceiling, as well as dry wall, flooring, and electrical conduits. Also, include plumbing, if you want to add a bathroom.

Invite 4-5 general building contractors to come to your house to give free estimates, as well as explain codes. Also, be sure to research all local codes before starting your project. Restrictions can include everything from waterproofing and ceiling height to the number of electrical outlets required in a room.

Costing saving tips

Subcontract out the work-Rather than hire a general contractor, you'll save money by subcontracting out each job. Ask for references for a reputable ceiling installer, as well as a drywall professional, plumber, and an electrician.

Drywall

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