The Cheapest Way to Refinish Your Basement

Assess the cost of your refinishing effort based on your location, the economy and the extent to which your basement requires both repair and decorating, as all of these can factor into the design, labor and materials needed to bring your project to completion. Do the math once you collect estimates from contractors to make an educated guess about the amount of savings you'll realize by recruiting labor and buying your own markup-free materials.

Rally the troops. Schedule a get-together in your basement for friends and family who have the skills you need to assist your basement-refinishing project. Gather everyone you want to recruit in the basement and explain your objectives, goals and budgetary limits. Take control of the project from the get-go by handing out a written game plan to every participant so folks can weigh in on unreasonable deadlines, re-order your list of tasks, or revise an idea to save money or time. Ask every member of your crew for proof of health insurance coverage.

Tackle necessary paperwork. Visit your municipal government offices to ask about basement finishing permits or licenses -- you may not need either for interior remodeling projects, but ask. Surf the Internet to locate free construction contract writing sites offering instruction on drawing up a simple, binding contract between you and your army of construction workers. Answer questions this request may provoke from family and friends by explaining it's for everyone's protection; all it takes is one fall to turn a helper into a litigant. Call your insurance broker to make certain your homeowner’s policy can handle claims, just in case.

Seek bartering arrangements for expert help. Once exclusively the realm of folks with more talent than money, bartering has again become a popular way to get what’s needed without an exchange of cash. Trade your talent for labor: A plumber in need of an advertising brochure needs your desktop design skills to trade work. Always ask about bartering to tackle projects your crew can’t handle and, if you have no luck approaching your network of friends, visit the websites of bartering companies. Record the value of all barter arrangements as they arise so you don’t get into hot water with the IRS when itemizing deductions for your renovation.

Ask for volume discounts when shopping for supplies. Emulate manufacturers, distributors and retailers who negotiate volume purchases every day. Bring your entire shopping list when visiting lumber, lighting fixture, plumbing supply, carpet, paint, hardware, supply outlets and home improvement centers. Ask to speak with a store manager, as even the most helpful clerk may not have the authority to get you a deal, even if you commit to purchasing all or most of your supplies at the same location.