Finding Basement Finishing Contractors

basement-finishing-contractorFinished basements increase livable space and home resale value, but basement finishing is an in-depth process, and some portions of the project are best left to professional basement finishing contractors or highly experienced amateurs.  For most homeowners, it is necessary to find a competent professional for at least some aspects of basement finishing.

Fortunately for basement finishing Toronto residents have many available contractors.  However, not all contractors are created equal, and it is important to find a well-qualified professional whose expertise matches your needs.  Here we discuss how to find the right contractor for your basement renovation project.

Paperwork and Legal Matters

In general, you will want to find a contractor who is licensed, bonded and insured.  This helps to ensure that he or she is a legitimate professional, and that any accidents or difficulties with the job will be covered by his or her insurance.  Trustworthy and reputable basement finishing contractors will have these three things.

Expertise and Work History

Basement finishing has its own specific complications and demands, meaning that a contractor who is not familiar with basements may encounter unanticipated problems, hindering the completion and quality of his or her work.  It is thus important to select a contractor who has successfully completed basement finishing projects in the past, and has a portfolio of past jobs available for you to look over.  Fortunately many Toronto basement renovations contractors are well-qualified for the job.

Customer References

Unfortunately, it is often difficult to tell how a prospective contractor will handle your job until you’ve already hired them.  It is thus preferable if a contractor can provide customer references, such that you can speak directly to past clients regarding his or her performance.  Be sure to ask about courtesy and customer service, quality of work and attention to deadlines.  Most contractors are well aware that past clients provide the most accurate appraisal, and reputable basement renovation contractors will be happy to provide customer references.

Finished basements are an excellent addition to most homes, but basement finishing is a big job, and it is important to find a well-qualified basement finishing contractor to make sure that the finished project is high-quality and delivered in a timely fashion.  Many Toronto basement renovations contractors are well-qualified to do just that, but be sure to do your homework before selecting a contractor.

 

Cheap Basement Finishing

Cheap basement renovationFinished basements increase your home’s value and add to your home’s livable space, increasing your family’s enjoyment of your home.  However, basement finishing can be very costly, and it is important to keep a few principles in mind for cheap basement finishing.

Considering Your Intended Purpose

Your cost will depend largely upon what you want to do with your finished basement.  The biggest expenses are typically tied up with new points of egress and additional bathrooms.  Although basement apartments must have bathrooms and independent points of egress, an entertainment room, media room or recreation room may not need either.  Other substantial costs are accrued in flooring, lighting and drywall.  Your needs and personal taste will also dictate these factors.

Working With Your Contractor

If you are unfamiliar with remodeling, you are well advised to find a qualified professional.  A good contractor can help you to stay on task with this substantial undertaking, and will help you to work within your budget.  Fortunately, for cheap basement finishing Toronto residents have many different options available.  A good contractor should be licensed, bonded insured and able to provide customer references.

If you are clear with your contractor that you’re working on a budget, he or she can help you to set a reasonable budget for the project, and to select remodel options that will save money without compromising quality and aesthetic appeal.  Don’t hesitate to mention at the outset that you prefer to do things as cheaply as possible; a good contractor will be happy to help you do this.

Financing a Basement Finishing Project

Because a finished basement increases your home’s value and marketability, it represents an excellent investment.  Many banks offer home improvement loans, so you may be able to finance your basement finishing in this way.   Consult your financial provider to determine whether a home improvement loan is appropriate for your needs.

Although basement finishing is a substantial undertaking, it can be done.  Consider your needs, evaluate your financial status and work with your contractor to develop a plan that makes the project affordable and realistic.

Managing a Basement Remodeling Project

basement remodelingBasement finishing and/or basement remodeling can be daunting tasks, and it is understandable to be overwhelmed by the prospect.  However, the project becomes more approachable if it’s taken in stages, and if you consult qualified professionals when appropriate.  Fortunately for basement remodeling Toronto residents have many options available in this regard.

Step 1: Identify your Intended Purpose

Because most houses come with unfinished basements, basements are often a source of untapped square footage that is used as storage and as a storm shelter.  Finished basements can increase your enjoyment of your home, and also increase its resale value.  Identify what purpose or purposes would be most enjoyable for your family.

Common uses for finished or remodeled basements include media rooms, recreation rooms, entertainment spaces, apartments and big kids’ play rooms or “man caves.”  If your basement is big enough, you can even design it to serve more than one purpose.

Step 2: Devise a Floor Plan and Decorating Scheme

Your layout will be largely dependent upon your basement’s purpose(s) and your own personal preferences.  However, if you are unfamiliar with home renovation and interior design, this part of finishing a basement can be very difficult.  It may be wise at this point to consult a professional.  For Toronto basement renovation there are many qualified professionals available.  Be sure to find a contractor that is licensed and bonded and able to provide customer references.

Your decor will also depend upon your intended purpose.  Be sure to pick a design that suits your personal taste, but that is also generic enough to appeal to future buyers when the time comes to sell your home.  You may also wish to consult a design professional for this.

Step 3: Set a Budget

Your budget will be dependent partly upon your goals, and upon the scope of your project.  If you’re doing the remodel yourself, consider the costs of all materials involved.  If you are working with a professional, ask for an itemized estimate.  If you can’t afford what you have in mind, it may be time to reconsider your project’s scope or to finance the project.

Step 4: Develop a Timeline and Work to Completion

If you are doing a DIY remodel, you will need to establish a realistic time frame for the project.  Set reasonable goals based upon how much free time you realistically have available and monitor your progress through each component of the project. This will help you to remain motivated and stay on track.

Any basement remodeling or finishing project is a large one, but by strategically designing your remodel to fit your intended purposes, working with experienced professionals as needed and addressing each component, it is very doable.  A finished basement will increase not only your quality of life and enjoyment of your home, but also your home’s resale value.

Finished Basements Apartment Design

If you are looking to generate some extra income, renting out a finished basement apartment may be an excellent option.  Toronto real estate prices are currently very high, meaning that the extra rent generated could potentially be very profitable.  However, it is important to design finished basements appropriately so that they will be convenient and desirable to tenants.

Floor Plan

Basement planningYour first concern should be convenience for you and your future tenants.  This will vary based upon your home’s floor plan and upon your personal preferences.  You should design the floor plan and points of egress such that a tenant can come and go with minimal disturbance to the rest of the household, and preferably such that a full bath and laundry facilities are available within the basement.

It may be best to consult a professional to make sure that you’re going about things properly.  Fortunately for basement renovations Toronto residents have many qualified basement design professionals available.

Design and Decorating

Finished basements are of course an absolute must, and you will want to have a basement design that lends a homey feel but is also generic enough to appeal to a wide variety of tenants. Generally for finished basement flooring, carpeting lends a warm, home-like feel.  Neutral and complementary tones on the walls, door frames, baseboards and molding create a comfortable environment and coordinate nicely with most furnishings or other personal preferences that a tenant may have.

Again, it’s best to consult a professional if you are unsure here.  The last thing you want to do is invest in a basement remodel only to have it be unappealing to potential tenants and thus difficult to rent out.  Fortunately for basement renovation Toronto residents have many available qualified contractors.

Renting out your basement as an apartment may be an excellent way to generate extra income to help pay your mortgage, and a basement apartment can also increase your home’s resale value.  However, make sure that a basement apartment is compatible with your lifestyle, and plan your basement design carefully.

Benefits of Basement Finishing

Most homes are sold with an unfinished basement, which is then used for storage and as a storm shelter.  However, your unfinished basement is an untapped resource of square footage that can be used for living space. There are also significant financial benefits with basement finishing such as added resale value and potentially renting your finished basement out as an apartment.

Basement renovation TorontoHowever, basement renovation is a big job, and if you aren’t an expert in home renovation, it may be best to consult a professional for at least some aspects of the job.  When it comes to basement finishing Toronto residents have many options, as a number of companies offer basement remodeling services.  However, not all companies are created equal, and it is important to choose a provider with sufficient credentials and ample customer references.

Adding to Your Quality of Life

A finished basement will contribute to your family’s quality of life, as you will be able to enjoy more of your home together.  A finished basement can be used as a recreation room, a home theater, a family room, or specialized for any hobbies you may have.

Financial Benefits of a Finished Basement

A finished basement not only increases your quality of life and enjoyment of your home, but can also be an excellent investment.  Firstly, it makes your home more desirable to potential buyers when you’re ready to sell, and increases resale value.

You may also wish to consider turning your basement into an apartment, which can be rented out to tenants.  This can be an additional source of income, and can allow you to afford a home that might otherwise be out of your financial reach. However, this is a decision that should be carefully considered, and you should consider consulting a qualified professional.

Finishing your basement can make use of square footage that otherwise goes unused, increase your family’s enjoyment of your home and can even be a good financial move.  If you plan your basement remodel carefully, you will improve your quality of life and even help contribute to a secure financial future.