If you love your current home but are struggling for space, there may be a solution you haven't considered right at your feet:  a basement renovation. Basement conversions have become more popular over the last few years, as techniques and methods for basement waterproofing have improved. If you're looking to add usable space to your home (as well as adding value to it), here's everything you need to know about converting your basement into a usable living space.

What You Need To Know About Converting Your Basement

Do Your Due Diligence

Converting your basement will mean undertaking one of two projects - the first is tanking out your existing cellar to turn it into a livable space and the second, more costly method is excavating and building an entirely new basement, which no doubt involves a lot of planning, design and, of course, money. Regardless, it's always a sound idea to obtain estimates from at least three different professionals to get an idea of what it will cost to create a usable basement space.  A basement remodel can be very detailed, which is why it is a more costly endeavor.  For example,  there are a lot of obstacles to work around in a basement:  plumbing pipes,  gas lines and heating ducts, for example.  Of course, you'll need to be sure your basement is waterproof and moisture resistant.  And unlike the first and second floors of your home, your basement will most likely need insulation installed, too.

When considering a basement remodel, be sure to bear in mind the ROI (return on investment).  Typically, it costs anywhere between $30,000 - $70,000 to convert an unfinished basement into usable living space, with a 70% ROI.  That means that for every $1,000 you spend, you'd get $700 back.  Not too shabby!
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​Designing A Great Space

Approach the design process carefully and you can have a beautiful, new space in your home that you'll be able to enjoy for years to come. Bear in mind the evolving uses you may have for your basement:  maybe a family / play room for a young, growing family, an entertainment area for your friends and family or maybe an extra bedroom with an on-suite bathroom, perfect for overnight guests.  You'll need to ensure that your conversion feels like a part of the home as a whole, as well.  That means carrying the design scheme from the upstairs to the downstairs.  Your contractor can help with measurements, but try and keep the ceiling height proportionate to the rooms above - at least 7'.  Consider windows that will help you get as much natural light as possible, since  natural light is almost always at a premium when it comes to basements.  A well-lit space with an egress to the back garden will add far more in terms of usability and value than a basement without one. Keep the walls to a pale neutral color in order to maximize the feeling of space and openness, and think about using glazed internal doors to let the light flow throughout. Add mirrors opposite windows and / or exterior doors as they will reflect the natural light and make the space seem bigger.  

Fitting It In

Will you be going with an open concept floor plan, or are you thinking about dividing the space into two or more rooms?  Will you be adding a bathroom?  A kitchenette?  A wet bar?  The purpose or purposes of your renovated basement will no doubt dictate the actual cost of the remodel so a larger budget will = more possibilities.  Of course, you'll also have to check local city codes to ensure you can actually do all that you intend to do with the space, and be sure you (or your remodeler) pull all of the necessary permits before your project begins.  There's nothing more frustrating than seeing your city or town place a stop work order on your project during a surprise inspection because something isn't up to code or isn't covered under your permit.
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