If your home has a basement that just houses the furnace and water heater with additional storage for junk, you can turn it into extra living space with a basement remodeling project. Basement remodeling can be as simple or complicated as you make it. Finishing your basement can give you a recreation/play room with a ping-pong table or a pool table. You can create a home office, a craft room, a home gym, or in-law quarters. The possibilities are endless.
Successful basement remodeling requires planning. Lay out your plans with graph paper or purchase specialized basement remodeling software for your computer. Once you have your layout, you need to determine the materials you need to finish your basement. Decide on the type of flooring, wall coverings, electrical and plumbing additions, heating and cooling, and the associated costs for each. Then determine whether you can do the work yourself or if you should turn your basement remodeling project over to a contractor.
Depending on the complexity of your basement remodeling project (adding a bathroom or separate HVAC system), costs can vary widely. Nationally, the average cost of basement remodeling is around $50,000. The good news is that you can recoup up to 90% of that cost when you sell your home.