The lockdown has forced homeowners to turn their attention to their living space. It is one of the reasons why basement renovations are becoming popular. That’s because they are more cost-effective than moving to a larger house. A basic renovation is approximately $35 per foot, which translates to $35,000. That means that you are able to turn a space that was probably not being used into something more valuable, like a gaming room, home theater, bar, and much more. In this article, we’ll explore the latest trends to help you find ideas that are of great value to your home.
Open Spaces for Socialization
One of the hot basement remodeling trends is open spaces to encourage movement. Walling off parts of the room can make the basement feel small and congested. You can create zones by creatively using furniture, carpets, and rugs.
The open concept can also optimize the use of natural light to improve illumination. The design can maximize the space without taking a square foot of space for partitions. It also cuts down on materials and the expense of redesigning the layout to accommodate walls.
TV and Entertainment Hangout Area
Another advantage of the open concept is that it facilitates socialization. As a result, homeowners are using the layout for TV and entertainment areas over the traditional home theater. The design is more informal than a cinema room and has decor and furnishings similar to a living room.
The open concept TV room may feature multiple screens for watching sports games on weekends with friends. Variations of the concept may include a basement bar or kitchenette. Enthusiasts tend to favor the immersive feel of a theater. But fans prefer the TV room idea as it encourages camaraderie and interactions.
Furnished Guest Suites
You can turn the basement into an extra room for your guests, complete with the latest modern furnishings. It can serve as a room for a senior looking for assisted living options. The idea has become more popular as retirees seek to age in place.
With guest rooms, the renovation can vary in complexity. The most basic involves adding a bathroom and a bedroom. Depending on your budget, you can include a basement bar or a lounge area. While such additions may be costly, they can increase the value of your home.
Home Spa and Gym
Another basement finishing trend involves incorporating a gym and a spa into your home. Restrictions on movement in recent months are compelling homeowners to start a gym to promote their health.
One advantage of turning your basement into a gym is that you can add equipment according to your needs. In other words, you start with a few workout machines. Whenever you are ready, you can add more equipment to the open space. Remember, chances are, once you begin your gym routine at home, it’s easier for other family members to join in and also enjoy the health benefits of exercising.
Mini-Auditorium for the Family
If your family loves taking part in group activities and music, you should consider a mini-auditorium. It can be a place for karaoke or for playing musical instruments. Soundproofing is an essential aspect of this basement upgrade.
Whether you are building a basement bar or a home theater, you can find a concept that works for your home. For the best results, take time to work on the layout and design before commencing the renovation project.
Basements can be rented out for 50% to 70% of the monthly mortgage cost if it has provisions for multi-tenant use. But whether you want to turn it into a rental or you want to customize it for yourself, basement remodeling can be challenging and requires a professional basement finishing company.
During renovations, you’ll have to deal with structural issues and other problems like moisture accumulation. In this article, we’ll consider some of the common basement finishing challenges and how to address them.
Cracks in the Foundation
The main challenge with cracks is that, when they’re caused by foundation issues, they can continue to expand due to the shifting soil under the building. If you notice that the door and windows don’t close completely, your home’s foundation may be weakening. Remember, organizing an inspection before basement remodeling will minimize the risk of structural problems in the future.
When renovating parts of your home, it is advisable to start by checking for cracks on the foundation. You can consult basement finishing companies about repairing the floor before the remodeling project.
Sunlight and Lighting Fixtures
One of the challenges of a basement remodeling project is lighting. You can boost the illumination by incorporating different types of light fixtures. You may add a window if the basement is above ground to take advantage of sunlight.
You can also boost illumination by Incorporating a bright palette for the interior. White and neutral colors can make the room feel relaxed and airy. That’s why you ought to consider the layout before consulting basement finishing companies for renovations.
Low Ceiling Height
A low ceiling height can complicate your basement finishing project. The interior is bound to be dark and gloomy, thanks to the numerous shadows cast across the room. Most building codes stipulate a minimum height of seven feet for livable space.
If lighting is the most crucial challenge, consider changing the color of the ceiling. White or neutrals that reflect light can liven a bland interior. It is advisable to avoid wall lamps as they cast shadows that diminish the illumination.
Insulation for the Wall and Floors
The basement ought to have suitable insulation for your climate and conforms to local building codes. Insulation prevents the buildup of moisture that may trigger mold growth, which could damage parts of your property.
Basement finishing companies can guide you on the type of material suitable for your home. Most local codes regulation requires insulation of at least R-8 for the floor. Some concrete floors may not need insulation depending on the area of exposure, so prior evaluation is essential.
Ventilation and Energy Efficiency
Ventilation is not only necessary for comfort, but it also facilitates the expulsion of excess moisture. The type of materials you use can facilitate airflow by capturing vapor and reducing humidity. The floor must be airtight to prevent water from escaping into your home.
The adjustments will depend on the type of renovation. Whether you plan to add a kitchen or wet bar, an evaluation is necessary to ensure the project’s success. It is always advisable to consult a professional from a basement finishing company.
It’s no secret that finishing your basement can give you some serious advantages as a homeowner. Not only does finishing your basement cost 80% less than buying a larger house but it also gives you a 77.6% return on investment that can seriously come in handy when your home goes back on the market.
With the help of an experienced basement remodeling company, you can turn your basement into a major usable living space for your property that can give you a lot of added value. Here are some of the key ways finishing your basement can help to boost the property value of your home when the time comes to sell your house.
Get around zoning codes
When your home is too small and you’re looking to add onto your property, zoning codes can be a real pain in the neck. Zoning restrictions may keep you from adding certain additions to your property because they can bring your home too close to your neighbors’ property. If your home is already two stories tall, too, you may not be able to expand upwards. This can be frustrating if your home feels cramped despite the second story. This is where finished basements come in handy. Finishing your basement allows you to expand your usable living space without interfering with zoning restrictions.
Make your home an income property
If you’re looking to earn a little extra income on top of adding value to your home, you can turn your finished basement into an investment property with the help of a professional basement remodeling company. Finishing a basement and turning it into a rental unit (approved by your local zoning department, of course) gives you the ability to make several hundred dollars a month. You just need to be sure to conform to local fire codes. If renting out your finished basement isn’t for you, you can still convert your finished basement into an apartment for your in-laws to save on assisted living expenses later on. If you and your family move, the basement apartment provides potential buyers with multiple opportunities.
Adds recreation and storage space
The last thing anyone wants is to store their belongings in a damp and dark basement covered in spiderwebs. Finishing your basement is a great way to give your home some additional storage space that clean and dry. What’s more, you can use the space as a recreational area like a home gym, kids play area, teen retreat, or guest bedroom. Because finishing a basement adds to the usable space in your home, it’ll be an unexpected but pleasant surprise for potential buyers later on when the time comes to sell.
Ready to upgrade your basement? ElkStone Homes is the basement remodeling company you need to take your basement remodeling design to the next level. Whether you’re looking to install a new fireplace for the ultimate family room or you’re looking to install a wet bar for a great entertaining space, we have the design experience you need. For more information about our basement remodeling services, contact ElkStone Homes today.
It’s no secret that homeowners love to remodel and improve their homes. In 2017 alone, Americans spent almost $14 billion on home improvements. However, basement renovations aren’t often the first idea that pops into people’s minds when they think about remodeling their homes. This is typically because there are several myths surrounding basement renovations that just aren’t true.
To help put the record straight, here are some of the most common myths about finishing your basement:
- It’s not worth remodeling a basement because of the flood risk. It’s not uncommon for basements to flood, especially during big rains or rapid snowmelts. However, basement flooding and leaks can be easily avoided with proper waterproofing. By installing a waterproofing system for your entire basement before remodeling, you won’t have to worry about flood risk when you finish your basement.
- Basement remodeling doesn’t require work permits. Your basement may be in the lowest level of your home and away from curious eyes, but that doesn’t mean you don’t need any work permits. A city or county inspector may stop by to check and see if you have a permit if they find out that there’s work being done in your home. If you don’t have a permit, the work that’s being done may need to be demolished and redone later. That said, make sure that you get the proper permits for your basement remodel before you get started.
- Finished basements are too dark to be enjoyed. You may not have the biggest windows in your basement, but that doesn’t mean your finished basement will be dark and spooky. With the proper recessed lighting and wall color, you can easily make your finished basement light and cheery. You can also get rid of the scary ambiance many unfinished basements have by making your basement feel like it’s a part of the rest of your house including using similar furniture styles and flooring as the floors upstairs.
- There isn’t a lot of value in finishing a basement. A finished basement has a resale value of up to 77.6% because you can use it for a wide array of things including an entertainment space, family room, and even a rental.
Do you need a professional basement finishing company to give you the finished basement of your dreams? ElkStone Homes is the basement finishing company for you. To learn more about our basement renovation services and upgrades, contact ElkStone Homes today.
Finishing a basement and turning it into a rental apartment can be a great way to earn extra money. In fact, basements are often rented out at anywhere between 50% to 75% of the monthly mortgage cost. But in order for you to find a renter who wants to move in, you need to make sure your basement apartment is somewhere renters actually want to live.
Tenants aren’t exactly head-over-heels for dark and dreary apartments. That being said, how can you turn your basement apartment into a bright and cheery space where renters want to put down their roots? Here are a few key ways a basement remodel can turn your basement into a warm and welcoming apartment.
Lighting is everything
Basement windows, if your basement has them, are typically smaller than regular first-floor windows. This can make your basement look cold and dark even when there’s some natural sunlight peaking in.
The best way to counteract this effect during a basement renovation is by installing overhead, recessed lighting. By installing overhead lighting throughout the space, you’re instantly creating a warm and welcoming environment that feels bright and airy.
Opt for bright cabinets and appliances
During your basement renovation, you’ll be installing kitchen cabinets, countertops, and appliances for your future renters. When you’re choosing the materials and colors for these features, it’s recommended to steer away from dark colors.
Dark colors are likely to make the space feel small, cramped, and unfriendly. Of course, if you’re looking to draw the eye up, you can play with contrast and choose darker lower cabinets and brighter upper cabinets. Including light-reflective surfaces throughout the kitchen is also a great way to make the space feel brighter.
Use natural textures and neutral colors
When choosing a color for your basement’s walls, it’s recommended to choose a neutral color such as white or a soft gray. Avoid choosing a cream color, which can make the walls look aged and yellowed.
Adding natural textures around the space can also make the space feel warmer. Consider installing hardwood floors or laminate wood flooring to create an instantly cozy aesthetic.
Get started renovating
Looking for an experienced basement remodeling company? ElkStone Homes offers basement renovation services whether you’re looking to turn your basement into an apartment, a family room, or a wet bar. To learn more about our basement renovation services, contact ElkStone Homes today.