Real Estate Banner

Maximize your basement’s potential

on Friday, 18 August 2017. Posted in Real Estate

Maximize your basement’s potential

By Scott McGillivray

If today’s real estate market has you frazzled, a home renovation project may be just the right answer. With home prices on the rise, finishing a basement is the latest trend towards building even more equity in the home. A finished basement can offer a little extra room and give a growing family space to breathe, and with so many uses, a renovated basement may be exactly what your home is missing. It can provide additional storage, a sound-proofed media room, craft room, guest room, or income suite. The possibilities are endless. Here are some tips on how to give your basement a 180-degree makeover:

Waterproof it. Check the interior foundation and floors to make sure there are no existing moisture issues, water damage or mold problems. Address any primary moisture issues before finishing the space. Examine grading to ensure water runs away from your foundation.

Soundproof it. Installing acoustic insulation is the perfect excuse to crank up the subwoofer, host a get-together or let the kids run wild. Soundproofing is the ultimate solution to maximize your basement’s peace, quiet and privacy. Industry experts suggest using Roxul Safe n’ Sound, which effectively absorbs sound and is easy to work with.

Add or replace flooring. Installing a new floor can improve the overall comfort level and look of your basement. Vinyl, laminate, ceramic tile, and engineered hardwood are great options. Say no to carpet, which can harbor mold and allergens, particularly in the basement, and don’t forget to lay a subfloor.

Add color. Transform the dull and boring space into an inviting oasis or a colorful playroom with a simple coat of paint. If your basement has low ceilings or limited natural light, choose lighter, warmer tones to brighten the space. To add some drama, consider adding depth and visual interest to your space with a different colored accent wall.

Accessorize it. Throw pillows, rugs, lighting, and artwork are simple additions that can immediately enhance or change your basement’s look and feel. Pot lights can modernize, while artwork and throw pillows can add a splash of color. Accessories are really an opportunity to make it your own and let your personality shine through. They also provide an inexpensive way to keep your space looking fresh from year to year.

Scott McGillivray is the award-winning TV host of the hit series Income Property, a full-time real estate investor, contractor, author and educator. Follow him on Twitter @smcgillivray.