How to Cheaply Renovate Your Basement

Create a list that encompasses a basement renovation depending on how you wish to use the space. Include all of the bells and whistles for a complete job along with the cost of each line item. For instance, incorporate adding new floors, replacing all old equipment, and even adding an entertainment system.

Review the list to see where you can scale back. For example, cut costs by restoring a used entertainment center rather than purchasing a new one.

Consider using a brush-on flooring compound, which is relatively inexpensive compared to other flooring options such as hardwood or tile. Simply mix and apply with a brush to coat and waterproof the floor. Another option is commercial grade carpeting, which is cheaper than plush carpeting.

Rent a sanding machine from your local hardware store and sand down your existing basement walls to prepare them for painting. This saves you the cost of an expensive, full drywall installation. As an alternative to paint, use the floor coating compound on the walls as well.

Install drop ceilings as opposed to dry-walled ceilings.

Place lamps and independent lighting fixtures in the basement instead of the more expensive recessed lighting.

Disguise any equipment you have in the basement (such as heating units) with paint, or hide them with room dividers instead of attempting to remove them, which is often very costly and time consuming.