Contractor and TV star Bryan Baeumler offers tips on how to renovate your basement properly and save money long term.

Finished basements have become more popular over the past few decades. No longer are they viewed as dark caves where mechanical systems clank away and spiders abound. Instead, they offer additional space and can increase the value of your home - as long as you keep a few simple things in mind.

Photography by Michael Graydon

1 Bedroom addition
Incorporating a bedroom in the basement is a great way to make room for guest and create extra storage space. But it also means making sure there’s a legal egress in case of fire - typically a window with an opening big enough to allow escape, as well as a window well deep enough to facilitate that hasty exit. And yes, you’ll need permits. $2000 to $3000 for window supply and installation.

2 Wall insulation
A basement’s outside walls often aren’t well insulated, so opt for spray foam or rigid insulation. You’ll spend a few extra dollars but it will pay of in the long run, since your furnace won’t need to work as hard to heat up your home. $3000 to $4000 to insulate a standard basement.

3 Subfloor solution
The days of damp floors and cold feet are over. I’m a big fan of dricore subfloor panels because they provide a ready-to-use foundation for installing the finished floor. You can frame and fasten your walls on top of the subfloor with ease, which maintains a thermal break and air gap between the concrete and top layers of flooring. It also raises the room’s temperature. $2 per sq. ft.
 

Photography by Mark Burstyn

4 Bathroom addition
Building a bathroom in the basement will add value to your home, as long as it’s well planned. Good news: Most new homes have basement bathroom rough-ins already installed. Have you ever wondered what those random capped pipes are that stick out from the concrete? Now you know! If yours doesn’t, a plumber will need to open up a channel from the bathroom area all the way to the main stack or sewer line. $3000 to $5000 for rough-ins.