Remodeling your basement can be a wise investment, not only for the impact on your home’s value but also because more usable space increases your family’s overall happiness.
Here are four things you need to know before launching a basement finishing project in Denver.
What Affects the Cost of a Basement Project?
The first question we often hear is, “How much does it cost to finish my basement”? That’s a tough question to answer because many variables will affect the cost as with any remodeling project.
Size and Condition of Your Basement
First and foremost, the size of the existing basement will affect the cost of your basement project. In many cases, a bigger basement will cost more to finish. However, the condition of your basement is also a determining factor. In fact, refinishing a large basement in a newer home may be less expensive than finishing a small basement in a historic home. For example, basements in older homes may not have enough height, requiring a basement dig out.
Adding a bedroom can also impact the cost, requiring new framing, drywall, and egress to comply with safety codes. Your existing support beams should be assessed to ensure their location and height is sufficient to create the space you want. If not, additional costs may incur.
The complexity of your desired design also plays a role in the final cost. Adding a bathroom, wet bar, or kitchenette will incur additional charges for plumbing and water lines—the same holds for installing or moving laundry facilities.
Is Remodeling My Basement a Good Investment?
Increasing the space of your home in any capacity can increase the home’s value, and the basement already has a basic foundation in place. A basement remodel project typically delivers ~ 75% ROI, and houses with finished basements are also more attractive to buyers.
More important than the financial benefits is an investment in your happiness. Owners of historic homes in Denver know that extra storage capacity is highly sought after. Beyond that, a basement can be transformed into just about anything your imagination desires, including:
- Office space
- Learning center
- Living space for au pair
- Play area
- Home gym
- Guest room
- Art studio
- Craft space
- Home theater
- Wine cellar
- Music studio
- Gaming area
How Do I Start the Process of Finishing My Basement?
The process of finishing your basement can take several different routes. A basement remodel involves specialized knowledge and attention to details of which the average homeowner may not be aware.
These include things like framing and drywall, plumbing, and electrical work, determining the best type of ceiling, lighting, and flooring to use. Plumbing can be a crucial element if you intend to install a private bathroom in the basement. You also want to check what heating and cooling capabilities your basement has and needs.
Other considerations include creating a safe and stylish stairwell, a safe and code approved escape route, and securing any required permits. Preventing moisture in a remodeled basement is another must. This involves adequate ventilation, breathable insulation, and exterior drainage off the roof away from your home’s foundation.
Hiring a professional for your remodel saves a lot of time and unnecessary headaches. It also ensures quality results, provided you go with a quality company, such as Factor Design Build.
Factor Design Build for Basement Finishing in Denver
Rather than doling out different aspects of the project to separate teams, the Design and Build teams at Factor Design Build work under the same roof. This ultimately makes for a smoother process.
Thanks to our expertise in whole-home renovations, the Factor Design Build team can ensure your basement remodel best suits your lifestyle. A basement remodel has a bigger impact than just the basement. We take your current living space into consideration, crafting plans designed to fit into and improve the flow of your home as well as your quality of life. Contact Factor Design Build to get started today.