WHAT TO DO WITH AN UNFINISHED BASEMENT

Although currently dimly lit and a little rough on the eyes, your unfinished basement still has a lot of potentials. With just a little love and the help of the following ideas, you can spice it up in no time and get some great use out of the space. 

 Add a pop of color. 

Give your basement a whole different look without a big renovation by adding some color to space. Consider painting and sealing the floors, opening up the room by painting the rafters white or a light color, or creating a bold accent wall. 

Divide the space. 

Want to make your basement a multi-use room? Partition out the area by installing an inexpensive curtain system. This can be done either with a curtain track or a simple wire, some hooks, and curtains will suffice.

Add foam mats. 

Whether you’d like to use the basement as a home gym to get a quick workout in or a place for the kids to play and rough house, adding some foam mats into the mix is a great and easy solution. They come in various colors and can quickly be picked up and tucked away if need be. 

Use a large rug. 

As an alternative to adding mats, find a large, eye-catching rug to be used as a focal point, and furnish the area around it. 

Add lighting. 

Basements often offer very little built-in lighting and few outlets around the room. Consider stringing café lighting across space from the rafters to give a nice ambiance and glow without any difficult electrical work.

Remodeling A Home

Have you been dreaming of a remodeled home?  Is your kitchen outdated, your landscaping overgrown, or unusable basement space?  The first thing to consider is how you are going to finance it.  Here are the most common options to make your dreams become a reality.

CASH

Paying cash is the most straightforward option, just save enough money until you have enough for the expense.  This will limit spending outside your budget; however, it can also extend your timeline.

MORTGAGE REFINANCE

If you've been making payments on your home for a few years and your interest rate is higher than current market rates, you may be eligible for a mortgage refinance, reducing your payments and freeing up some of your money.

CASH OUT-REFINANCE

You can tap into your home equity and borrow up to 80% of your home's value to pay off your current mortgage plus take out more cash to cover the renovations.  This option is encouraged only when you are making improvements that will increase the value of your home, as it can add a lot of interest and fees.  

HOME EQUITY

Getting a home equity line of credit allows you to borrow money against the value of your home.  You receive up to 80% of the value of your home, minus the amount of your loan.

RETIREMENT FUNDS

Homeowners can consider pulling money from a 401k or IRA account, even though they aren't specifically meant to cover a home renovation.  This option might incur additional penalties or tax payments, but maybe worth it when making improvements that will benefit them financially in the long run.  

If remodeling is not what you want to do and buying a new home or a resale home is better for you then give me a call.  I'm happy to help you find the home that fits your lifestyle and dreams.