Even after any water issues and other possible problems are dealt with, Chicago basement expert and owner of Basement Spaces, Dave Schrock, suggests homeowners install a good backup battery-operated sump pump and make sure the proper insurance is in place.
"An ounce of prevention is worth a pound of cure," said Schrock, who offers an informational Web site, basementideas.com, as well as a book and CD on designing and finishing basements. "They should make sure they're covered that way."
A basement remodel will cost homeowners between $30 per square foot to more than $100 per square foot, while a new addition is likely to cost in the $250-per-square-foot range, estimates Bill James, president of James Contracting in Finksburg.
"It's a less expensive way to pick up sometimes as much square footage as they have on their first floor," he said, but he cautions homeowners considering a basement remodel to do their homework and go with a reputable contractor.
Popular items for basement remodels include second kitchens, entertainment centers, home offices, storage, exercise rooms, bars, bathrooms, playrooms and guest bedrooms.
James won an Award of Excellence last year from the Home Builders Association of Maryland for the basement remodel he did for Finksburg residents Bruce and Laurie Seidman.
Their finished basement, which cost about $150,000, included a second kitchen with an island, open entertainment and theater area, separate playroom with video game system, full bath with steam shower, laundry area, storage and two additional finished rooms.
"We thought long and hard about whether or not we were staying or not," Laurie Seidman said. "We're going to be here for a long time. The space, it works very well."
The area is used often by the family, which includes three children, ages 7, 10 and 14.
"It was always on our list," Seidman said about the recently finished basement. "We wanted an area where we could all congregate and have some fun." if you remodel
The NAHB Remodelers offer these tips when starting a remodeling project (more information can be found at nahb.org/remodel):
* Develop an idea of what you want to do. Prioritize your needs and wants. Look at magazines and Web sites and collect pictures of what you like, so you can accurately convey your vision to the project designer/architect.
* Think about traffic patterns, furniture size and placement, colors, lighting and how you expect to see the remodeled space.
* Figure out how much money you have to spend on the remodeling job and the furnishings. If necessary, talk to lenders and find out how much you can borrow and at what cost.
* When seeking a professional remodeler or contractor, search online resources such as the Directory of Professional Remodelers at nahb.org/remodel or local remodeler councils like the Home Builders Association of Maryland at homebuilders.org.
* Seek referrals from friends, family, neighbors, co-workers and others who have had remodeling work done.
* Before you sign a contract, ask for a written estimate of the work based on a set of plans and specifications. Be prepared to pay for this package.
