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Is it Worth it to Finish My Basement?

By September 25, 2015August 2nd, 2020Home Improvement

There are a record number of homes selling for over a million dollars in Edmonton. That’s great news if you own one of those properties, but if you’re looking for more space and don’t have seven figures to spend, it’s a bit of a problem.

Enter the finished basement. It’s a good way to get more space in the home you already own, and if you’re thinking about it, the City of Edmonton has a special permit for basement renovations. Then the question becomes: Is it worth it to finish my basement?

Basement Renovations are Expensive!Is it Worth it to Finish My Basement?

Most people would love to have a killer recreation room in the basement, but even without sweet touches like a pool table and keg fridge, it doesn’t come cheap. There are a lot of things that affect the cost of a basement renovation, but one of the biggest factors will be the height of the existing ceiling. Once you start looking at underpinning to drop the floor, you’re talking big bucks.

Not Every Home is Well-Suited for a Finished Basement

We already mentioned the trouble and expense relating to a low ceiling, but there may be many other reasons your home may not be well-suited for a finished basement. If there are any structural issues with the foundation of your home, you’ll learn about them very quickly when you’re planning a basement renovation.

There’s no sense getting your hopes up for nothing. If finishing the basement something you’re seriously considering, make sure you bring a qualified contractor on very early in the planning process to let you know if your plans are feasible.

Consider the “Semi-Finished” Approach

If your home isn’t a good candidate for a recreation room in a finished basement, consider some half-way alternatives. For example, if you move some of the items that are currently being stored on the upper levels onto some storage racks in the basement, you can get more living space without changing a thing.

You may even find that parging basement walls or adding drywall can be enough of a finishing touch to the basement to make it feel like a homey spot to store your off-season stuff. At the very least, adding parging can help provide another layer of insulation for the basement. That’s sure to keep things cozier, no matter what you end up doing in the basement.

You are the only one who can really decide what’s best for your home and your family’s needs. However, if you’re planning to buy a smaller property now thinking “we can always finish the basement if we need more space later,” it may not be quite that simple. Take the time to consider your options!

We’re parging experts who specialize in Edmonton, Alberta, and the surrounding area, but we have picked up a lot of general home improvement knowledge along the way. Be sure to follow us on Twitter, Google+ and Facebook for information on ways to get more out of your home.