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Financial Health Author: Scott McGillivray Last Updated: Sep 7, 2017 - 10:06:33 PM

Maximize Your Basement’s Potential

By Scott McGillivray
May 3, 2017 - 11:56:58 AM

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( - With house prices on the rise, finishing a basement is the latest trend toward building even more equity in the home.

A finished basement can offer a little extra room to give a growing family space to breathe, and with so many uses, a renovated basement may be the exact solution to what your home is missing. It can provide additional storage space, a soundproofed media room, craft room, guest room or income suite. The possibilities are practically endless. Here are some tips on how to give your basement a 180-degree makeover:

Waterproof it. Check the interior foundation and floors to make sure there are no existing moisture issues, water damage or mold problems. Address any primary moisture issues before finishing the space. Examine grading to ensure water runs away from your foundation.

Soundproof it. Installing acoustic insulation can provide an excellent excuse for cranking up the subwoofer, hosting a get-together or letting the kids run wild. Soundproofing can be the ultimate solution to maximize your basement’s peace, quiet and privacy. Industry experts suggest using Roxul Safe ‘n’ Sound, which effectively absorbs sound and is easy to work with.

Add or replace flooring. Installing a new floor can improve the overall comfort level and look of your basement. Vinyl, laminate, ceramic tile and engineered hardwood are great options. Say no to carpet, which can harbor mold and allergens, particularly in the basement, and don’t forget to lay a subfloor.

Add color. Transform the dull and boring space into an inviting oasis or a colorful playroom with a simple coat of paint. If your basement has low ceilings or limited natural light, choose lighter, warmer tones to brighten the space. To add some drama, consider adding depth and visual interest to your space with a different-colored accent wall.

Accessorize it. Throw pillows, rugs, lighting and artwork are simple additions that can immediately enhance or change your basement’s look and feel. Recessed lights can modernize, while artwork and throw pillows can add a splash of color. Accessories are really an opportunity to make it your own and let your personality shine through. They also provide an inexpensive way to keep your space looking fresh from year to year.

For more information, visit

Scott McGillivray is the award-winning TV host of the hit series ”Income Property” on HGTV Canada, a full-time real estate investor, contractor, author and educator. Follow him on Twitter @smcgillivray.


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