Did you know that in Colorado, a large majority of homes, approximately 60%, have basements? If you have a basement in your home that is currently unused or underutilized, it’s time to consider the potential it holds. By transforming your basement into a livable space, you can not only add extra square footage to your home but also increase its value for potential resale. According to Angie’s List, a basement remodel can provide up to a 70% return on your investment, making it a smart financial choice.
At Christie’s Design/Build Remodel, we love helping Northern Colorado residents revamp their basements into beautiful and functional living spaces. Whether you have an unfinished basement, a walk-out basement, a partially finished basement, or a finished basement that needs updating, the possibilities for creating the perfect space are endless. By working with our team, you can take advantage of the unique features of your basement and turn it into a space that perfectly suits your needs and style. With our help, you can upgrade your home and create a space you and your family will love for years to come.
But what does a basement remodel entail? What should you be aware of and what should you look out for when deciding on your own basement remodel?
What Are Your Basement Remodel Needs?
As we mentioned, there are a lot of options to choose from when deciding what to do with the empty space below your main level. But first, let’s look at your current space. Do you need more room for entertainment? Are your in-laws moving in and do you need an additional bedroom? Are you looking to add a fun space for the kids to hang out away from your main living space?
Once you have defined what those needs are, you can start to formulate a plan. For some extra ideas, some of our favorite basement remodeling projects are listed below:
- Bonus playroom/living room
- Theater Room
- In-law Suite
- Apartment/Rental Unit
- Gym
- Personal bar/lounge
- Man Cave/Lady Den
- Laundry room
- And so much more!
Cost vs Reality
Before embarking on a basement remodel project, it’s important to assess your needs and weigh them against the reality of your home’s setup. Depending on the age and design of your home, adding city-approved, permitted remodels may require significant upgrades to the ventilation, electrical, framing or plumbing systems. Failing to factor in these costs could lead to unexpected expenses and delays during the renovation process.
One of the most complex and costly aspects of a basement remodel is anything related to water. In many older homes in Northern Colorado, the initial construction did not prioritize finished basements. One of the biggest issues is that to save money, the builders will place the rough-in plumbing for the sewer in the wrong place. As a result, in your basement remodeling project, we may need to dig up the concrete foundation to install the necessary water and drainage lines. Proper water flow requires a precise piping angle to avoid blockages from level piping.
It’s worth noting that adding bathrooms and wet bars to a basement can significantly increase its value, typically by $15,000 to $20,000 or more, depending on the quality of the fixtures and materials used. However, installing a bar in the basement requires additional water lines, which can drive up the cost of the project.
In addition to water-related expenses, homeowners should also consider the cost of adding electrical outlets, lighting fixtures, switches, and other electrical components. Before starting your project, it’s essential to check your electrical panel to ensure it has sufficient capacity to handle the added electrical load. If not, expanding the panel to accommodate your electrical needs will be an added expense.
Overall, the cost of updating the electrical in your basement remodel for a 1,000-square-foot space can range from $5,000 to $7,000, depending on your home’s specific needs and upgrades. By taking the time to assess your needs and factoring in all potential expenses, you can ensure that your basement remodel is a success.
A basement remodel can be a great way to increase the living space in your home. However, it is important to keep in mind that it may not be as easy as it seems. The cost of a basement remodel can vary greatly, ranging from $80,000 for a basic remodel to over $150,000.
At Christie’s Design Build Remodeling of Northern Colorado, we can help you transform your home and improve your family’s lifestyle with a basement remodel. Whether you need extra space, an additional bedroom and bathroom, or an entertainment area, our team is here to assist with all your home remodeling needs. Contact us today and let us turn your dream into a reality!
