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3 Ways To Save Money On A Basement Refinishing Project

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Many who purchase homes with unfinished basements dream of someday being able to finish off those spaces for the extra square footage and living space. Unfortunately, the costs of refinishing a basement can be quite pricey, typically totaling around $70,000 to have a contractor do it for you. Fortunately, however, there are a few things you can do to cut back your basement finishing costs without having to make any major sacrifices in the process.

Go For Open-Concept

First of all, consider creating an open-concept space in your basement, with as few separate rooms as possible. Not only are open-concept spaces extremely popular in today's real estate world (thus adding potential resale value to your home), but such a design can easily save you thousands. That's because, with an open-concept space, you won't have to pay for additional drywall, doors, and other fixtures in each room. Instead, it's all one expansive space with endless possibilities (perhaps even more endless with all that money you'll save).

Finish Select Spaces

Another great way to save money on your basement finishing project is to pick and choose which areas of your basement you want to finish wisely. After all, each square foot will come with a high price tag, so why finish off more than what you need? For example, if you could make do with leaving your laundry space unfinished, go for it. You could save thousands of dollars this way--and how much time do you really spend in the laundry room, anyway?

Plan Bathrooms Wisely

Finally, if you're planning on adding a bathroom to your finished basement, you can drastically reduce costs by placing the bathroom in line with the plumbing that already exists in your home. This will save your basement finishing contractors from having to cut into the concrete slab underneath your home in order to run all new plumbing to your new bathroom's location. More than likely, you can install a new bathroom for much cheaper if you place it directly underneath one of your first-floor bathrooms, so try and find a way to work that into your floor plan.

It's no secret that finishing a basement can be pricey. However, by following these tips, you can easily cut thousands--if not tens of thousands--of dollars off the total cost of your home remodeling project. That's more money to spend on basement luxuries, such as that big-screen TV you've been eyeing or that beautiful pool table. Check out websites like to get started.