Most homeowners and remodelers make a common mistake of going beyond their expected budget for your remodel my basement project. If you do not want to commit this mistake, then better make a comprehensive plan for your design and finances.
One main reason why most customers go over their budget is that they do not have a clear picture of what they want to achieve in their basement remodeling on a budget. Besides doing your planning, it is also wise to hire a contractor, since we have the experience and skills for these fields.
Nevertheless, we are sharing five best tips that will help you keep your budget for remodeling your basement. Also, we included some estimates for updating your dusty and rustic basements.
Easy Tips For Staying Within Your Budget for Remodeling Your Basement
#1 Do Your Homework
We always emphasize to our clients that having a clear picture of the outcome of your basement remodeling on a budget is critical for budgeting. The internet is always at your disposal so you can find hundreds of inspirational designs for updating your basement.
In line, some of the popular choices for your best basement remodels include the following:
- Mini theater
- Children’s play area
- Living room extension
- Mini office
- Wine cellar and minibar
- Suite area with rooms and restrooms
- Mini gym and more
If you are still undecided about what to do with your basement, then talking to a professional contractor or interior designer will be of great help. We do free consultations and quotations for all homeowners concerning basement renovations.
With our solid experience and annual training, we can effectively give you fruitful ideas and advice on how to spruce your dark and gloomy basement.
#2 Never Go Over Your Budget
It is easier said than done when we say that you need to stay within the limits for the projected cost of updating your basement. We can never emphasize that more since it is a common mistake done by remodelers and customers.
In line, having a budget of 10% to 15% of your property’s total value for your basement makeover is an excellent projection. Say your house is worth $400,000 so your expected range for basement redo is between $40,000 to $60,000.
Moreover, for safety reasons against an unforeseen spike in expenses, you can set aside an extra budget of 20% from your projected basement remodeling cost. This will cover any added cost on your materials, labor, and logistics.
#3 Consider Buying Cheaper Alternatives
You might be tempted of purchasing highly expensive fixtures, appliances, countertops, or floorings for your basement redo, yet we always remind you to think twice.
Oftentimes, we recommend our clients go for flooring materials at a reasonable price rather than those with hefty rates. Why? Because your basement is at constant risk from flooding, and regardless of your flooring material, it will suffer from water damages.
To avoid this risk, we also check and reinforce your plumbing works and insulation from gray and flood water.
#4 If Possible, Go For Standard Features
If you want to stay within your budget, we also recommend you to choose standard sizes, designs, and features for your basement fixtures and elements. Typically, custom-made cabinets and countertops will cost more than their prefab equivalent.
In line, with our basement remodeling services, we will help you plan for the design, material options, and budget plan for your dream modern basement. We have highly trained and experienced technicians and interior designers for the varied tasks in updating your place.
#5 Consider An Open Space for A Versatile Basement Function
You have two options for using your basement space – dividing it into rooms or keeping open space. The former choice will give you more customizations in the rooms you want to create inside your new basement.
However, the latter choice will give you more freedom when it comes to space usage and maximization. Anytime, you can re-arrange your basement to suit your current need, like a living room extension for your guests or your kid’s play area.
What Is the Average Cost for Small Basement Updates
We are done discussing the best tips for updating your basement on any budget, now let’s go over with its average costs. So far, the running price for doing a small basement makeover is between $5,000 to $10,000, and the common inclusions will be your drywall, floor, plumbing, electrical connections, and lighting.
Based on surveys, the usual percentage for your small basement makeover is 10% to15% of your property’s value. Nonetheless, it is wise to keep an extra 20% cash based on your average renovation cost to cover unexpected expenses.
If you plan to install modern fixtures, appliances, cabinetry, and countertops inside your newly renovated basement, it can substantially appraise your budget. Nevertheless, we will make sure to still adjust everything to keep within your finances.
Moreover, here are some typical variables affecting the cost of your modern basement makeover.
- Area of your basement
- Quality of finishes
- The extent of change in your plumbing and electrical works
- Adding new appliances, furniture, upholstery, cabinetry, and countertops
- Labor cost
Looking For A Reliable Basement Remodeling Contractor
At Mega Kitchen and Bath, we guarantee all our remodeling works because we have the experience, technology, and skilled personnel for any small or large renovation projects.
With our duly licensed, trained, and bonded technicians, your dream small basement redo will be smoothly achieved in the right duration for a reasonable cost.
To ask for our free estimate, you can fill out our request form and wait for our response to come within 24 hours. Nevertheless, you can schedule an in-house inspection and quotation with us for a minimal charge, which we can waive or deduct from your overall renovation cost.
Call now to get your free quote or visit us on Facebook anytime!