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How To Do Basement Renovation On a Budget

According to HomeAdvisor, it takes between $7,000 to $23,000 to do a basement renovation – excluding the cost of an interior designer and furnishings. Overall, it’s a costly affair, but having a fully functional basement is always a handy way to add more square footage to your home, elevate your property’s value, and add some new features to a generic home.

However, if you don’t really have the budget to go for a full-fledged remodel, then a simple, affordable renovation can do the trick as well. Aside from basic DIY projects that any homeowner can do, you can also diverge and opt for some tried-and-true home refurbishment hacks from the Internet. The basic idea of a basement renovation is to make the space liveable, presentable, and well-staged enough to enjoy on your own, or add value to your property as a whole. But before we look at some renovation ideas, we need to know.

What qualifies as basement renovation?

Basement finishing or renovation is the process of making an otherwise incomplete basement become viable for use as a presentable space. This includes basement waterproofing, floor finishing, lighting installation, and new furnishing.

Benefits of a basement renovation?

The basic purpose of a basement renovation is to make the space as usable as possible. Aside from some great functional qualities, a basement renovation can also add to the aesthetics of your home, which, in turn, can add to the resale value. Here is an in-depth look at all the benefits of a basement renovation:

Reinventing the space

One of the best benefits of a basement renovation is that it allows you to transform the space into anything that you want – be it a home theatre, a man cave, a home office, an artist studio, or more.

Increasing the property value

Statistics show that a functional, presentable basement can give you 70% returns on the cost of your overall investment. So if you want to increase the real-estate value of your home, a basement renovation is always a  good option.

Better insulation

If you’ve ever wondered what to do if your air conditioner stops working, then you’ll love the cool insulation of a basement. Not only does it allow your home to become more energy-efficient, but it also helps keep the temperature constant. Whenever the ground or first floor gets too hot, you can simply go to the basement for a cool, refreshing break.

Budget-Friendly Basement Renovation Ideas

Since a professional, full-fledged basement renovation can cost a fortune, homeowners are always searching for budget-friendly ways to make a difference. It’s a feasible challenge and you can also take on some DIY projects to keep your expenditure to a minimum. Here’s a list of some budget-friendly basement renovation ideas that will help you save money without skimping on any trends:

Mirror Walls

If there’s one thing a basement lacks, it’s natural light – and if you install too many ceiling LEDs, it would just take away from the ambience. Plus, the lack of natural lighting can also make the overall square footage feel cramped. This is where mirror walls come in. You can clad an entire wall in reflective mirrors to enhance the distribution of light, and evoke a sense of spaciousness at the same time. 

Mirrors have a way of making the space feel larger and they also have great reflective qualities. So when an entire wall of your basement is clad in them, you’ll automatically feel a clear and dramatic change in the ambience. It usually costs anywhere around $8 to $15 per square foot to install mirrors on a wall, and the cost usually differs with the complexity of the design.

PRO TIP: If you can’t afford a mirror wall, then opt for either a single oversized wall mirror or a gallery wall of mirrors. They’ll have a similar impact.

Wall & Ceiling Paint

One of the best ways to do a basement renovation on a budget is by painting the ceiling and walls to perfection. It’s an affordable venture and you can easily do it on your own. The main advantage of this venture is that it gives the space a neat, finished look with minimal cost.

The main thing to remember when selecting paint colours is that they should lean on the lighter side. White is the best option, as it makes the space feel larger than it is. If you want a dash of colour, then consider pastels like mint green, baby pink, powder blue, beige, and lavender. All of them are light enough, but also have a sense of personality. And if you want some contrast, then you can always complement the painted walls and ceiling with dark-hued furniture.

Cheap Flooring for the Win

Flooring can be one of the most expensive parts of a basement renovation, but you can certainly cut down on the costs by installing less expensive materials. Vinyl is a good option as compared to traditional porcelain. It looks like wood and comes in several unique finishes, so you can always find something that complements your interior design theme. Plus, it’s very easy to install, so that significantly cuts down the cost of labour.

Carpet tiles are also a popular choice. Their peel-and-stick installation process attracts many. Additionally, if they ever get stained, you can simply peel off the dirty tiles and replace them with new ones.

Layered Lighting Effects

The basement needs to be well-lit in order for the ambience to feel welcoming, and the best way to do that is by creating layered lighting effects. Aside from the typical ceiling LEDs, you can opt for beautiful wall lights that project stunning, focused illumination. You can also put floor lamps in dark corners to light them up. If there are any niches, then install downlighters in them to create beautiful accents. Another option: put various table lamps on different surfaces, and turn them on to create a layered effect. Lamps aren’t that expensive, so this venture can help you uplift your basement ambience in an affordable way.

PRO TIP: The ambient light (preferably the one that comes from the ceiling LEDs) should lean on the white spectrum, while the accent lighting (with the floor and table lamps) should be golden. This mix and match of illumination will create beautiful layers. 

Employ Minimalism

Lastly, if you truly wish to keep your basement renovation as affordable as possible, then you need to practice minimalism. There shouldn’t be any frou-frou or extra elements. Keep the furniture sleek and low-profile. Don’t opt for extra seating space. Put in area rugs and throw pillows on the floor to accommodate extra people.

Other than that, keep the decor minimal as well. Don’t put extra stuff on the walls, floor, or ceiling. Embrace modernism to the fullest, and keep everything as simple as possible.

These are some renovation ideas to give your basement a finished look on a budget. We hope you find it helpful and create the basement of your dreams on an affordable budget. You’ll find that most of these things are doable on their own and don’t take as much time, money, and effort as you would spend on actual, professional refinishing.

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