If you’re like most people, your basement does double or even triple duty. It might be a laundry room as well as a workshop, and there’s probably an area used for storage, too.
So, what if you want a basement renovation that carves out an area for some living space? Will you have to move all the other types of areas to another part of the house?
Not at all. The secret is to utilize space-economizing methods to create a multi-use basement that serves many needs.
Analyze Your Needs for the Basement
The first step in this type of basement conversion is to analyze the current uses in the area and look for ways to make them more efficient so they can take up less space. Consider:
- Investing in a stackable washer and dryer and a hinged table that you can fold up when you’re not doing laundry. Remodeling contractors can help you determine where and how to incorporate this, and make sure your laundry area is plumbed correctly.
- Including movable floor-to-ceiling shelves for all those storage boxes and bins. Organize and consolidate the contents so you have fewer containers to store.
- Using shelves or work tables mounted on rolling bases to organize tools, crafting supplies, or household equipment. You can roll it out of the way when it’s not in use.
Creating a Multi-Use Basement
After your areas are well-separated, use curtains, folding partitions, or interior walls to delineate them. This helps make sure things like lint, dust, and wood chips don’t find their way into your living space. Try to put push these “work areas” to one side of your basement so the area closest to the stairs or exterior door contains the new living area.
The basement renovation area can be walled off from the rest of the basement and even have a different flooring from the rest of the basement. You can add heat, recessed lighting, and new ceiling coverings to improve the warmth and appeal of the new space.
Consider using a remodeling contractor to finish off the new living area. Experienced contractors can design the project in a way that lets you eventually expand the room, if you choose. They know which types of flooring work best on basement concrete, and can help you get proper permits for the renovation, as well. A home with increased square footage of living space has an increased market value.
Be sure to select a basement remodeling contractor with references. Check them out with the Better Business Bureau and your state contractors’ board. A good contractor can give you all you were hoping for, and more, in a basement remodel.
4 Ways To Finance Your Home Renovation Ideas
September 22nd, 2009 by adminSo you have finally purchased that 19th century farm house that you have always pictured yourself living in the problem is how do you finance the home restoration ideas? It is easy to get mortgages for the value of the home even a little extra if you have a good credit rating but today a renovation can cost more than the original purchase price of the property.
The first option s to look at your available assets. You can get a home equity loan if there is any equity in your house. Use your credit cards for short term home renovation ideas or borrow money from your parents these ideas are only usable in a short term renovation once the renovations completed you should be able to refinance your home and pay of the relatives, high interest credit cards and roll your home equity loan into your mortgage.
You may be able to get a “line of credit” a line of credit is usually easy to get up to $30,000.00 with out much effort and with a minimal amount of paperwork these lines of credit are good for short term home renovation ideas that are under the $100,000.00 dollar mark. The interest rates tend to be on the high side but you can draw out the money as you need it and only pay interest on the cash that has been withdrawn and again once the renovation is completed you can refinance and pay of the line of credit and combine all your loans in the mortgage.
Depending on the scope of your renovation you may be eligible for store loans and credit card offers. Many home stores now have their own credit cards they offer deal such as interest free credit for one year you may be able negotiate a longer term. The important thing here is to pay off the loan/credit card prior to the free period expiring otherwise the interest will revert back to the initial purchase. Some stores will also offer you a interest free construction loan for your project the terms of these construction loans vary from store to store read the fine print carefully like the credit card deals these usually have a time limit. Again one the renovation is completed you can refinance and pay off the loan avoiding high interest dept.
Construction loans are generally reserved for larger projects this kind of loan is a short term loan the money can be taken as needed and interest is paid on the money that has been taken out. Almost everyone now offers construction loans this completion has brought the costs of these loans down. The nice thing about construction loans is that you can withdraw the money as you need it once the renovation is done you can refinance and have one closing and one mortgage. One thing you should keep in mind when shopping for a construction loan is the fees and finance charges as always keep an eye on the fine print for hidden charges. With these tips, the home renovation ideas of your dreams will come true.