If you finish your basement, you could see as much as 75% ROI when you sell your home — but you don’t need to spend that much to boost your property value.
There are easy, budget-friendly upgrades you can make in your basement that will increase your listing price, and some of them are even doable with basic DIY skills.
Want to start planning a minor renovation to boost the value of your home? Here are 15 cheap basement upgrades that prove to be smart homeowner money moves — and buyers almost always notice.
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1. Put a fresh coat of paint on the walls
Nothing freshens up a space like a fresh coat of paint. Give the walls a coat or two of light colored eggshell paint, and you’ll brighten up the entire space.
Own a car? Here's 7 warning signs you're paying too much for car insurance. 2. Add drywall
If you’re up for stretching your DIY skills, adding drywall can be an inexpensive project for an unfinished basement. It will still have an industrial look if you keep the concrete floors, which you can decorate around with white paint and modern furniture.
3. Sand and repaint
Because of the moisture in a basement, it’s not uncommon to end up with peeling paint. This is one of the first things a future buyer may notice, and it will make your home look tired and ill-maintained.
Sand and repaint areas where the paint needs some major attention.
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4. Give the stairwell a facelift
First impressions matter, and the first thing you see in a basement is the stairwell descending into it. Give it a fresh coat of paint, perhaps a few pieces of art, and maybe even a stair runner. This small facelift will set the tone for the entire space.
5. Deep clean any windows
In a low-light basement, every bit of light matters. Deep clean your windows to ensure the sun can stream in. You’ll be shocked at the difference it makes to have light come in through a dusty or dirty window versus a clean window.
6. Upgrade light fixtures
If your basement is filled with cheap, builder grade lights, those should be the first thing you replace. You can find attractive light fixtures for around $100, and, with some light DIY skills, you can even install them yourself.
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If you like the light fixtures you have in the basement but something feels off, try the incredibly cheap update of switching out the bulbs. Put in a bright soft white, and your basement will get a totally new look.
8. Add a home gym
If you want to show a true multi-purpose space in your basement, add gym tiles and mirrors to create a home gym. This is a simple way to show how versatile a basement can be.
9. Bleach or color tile grout
Basements often have tile flooring because of the tendency for moisture to seep in and, over time, the grout in that tile can start to look tired and worn. Give your flooring a fresh look by either bleaching the grout or taking a colored grout pen to a light colored grout that is too far gone.
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10. Paint an accent wall
While you have the paint out, consider painting an accent wall to give the space a cheerier look. Even just one wall of color makes the space look more intentional — like you’ve spent the time to decorate down there.
11. Add a rug
Basements often feel cold and sterile. Adding softness, like a rug or drapery, can give the basement a more welcoming, softer look. However, don’t put anything too expensive down here — basements are also prone to flooding, and you don’t want an expensive wool rug ending up underwater.
12. Decorate in a muted color palette
Give the basement a calming look with a muted color palette of blues and greens. You’re likely facing limited natural light, so it’s best to lean into light colors and cool tones to help brighten the space and make it feel fresh.
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13. Freshen up the kitchen
If you’re fortunate enough to have a kitchen or a wet bar in your basement, give it a quick makeover using peel and stick tile to update the backsplash. This doesn’t need to be the same quality you’d use in your regular kitchen; your goal is to give it a crisp new look.
14. Use clever storage
Basements often become a catchall for everything from old tools to sports equipment. Create clever storage solutions that include closed storage, as well as labels. This will give the space a more curated, less chaotic look.
15. Add decor and art
Just because it’s a basement doesn’t mean you can’t jazz up the space a bit! Add art, decorative items on shelves and bookcases, and treat the basement as a space where you want to be. When it doesn’t feel like an afterthought, people will notice, and they’ll read it as a room that’s designed to be lived in.
Bottom line
Whether you’re tackling minor or major renovations, it’s worth it to try to maximize every dollar you spend.
Get the most value for your updates by getting a cash back credit card that you can charge all supplies on. This could be a store card or a card with a major bank, but either way, you want to make sure you’re earning points with every purchase of paint, wood, and hardware.
Money tips that can work for everyone
No matter what your bank account balance is, there's always an opportunity to optimize and improve your finances. Here's a quick checklist of things you can look at today.
Focus on paying off your debt. Debt can hold you back from making progress with your overall financial well-being. Aside from cutting expenses, there are tools that can help you pay off debt faster like balance transfer credit cards and debt counseling.
Earning extra income can give you breathing room. If finances are tight, earning some extra money to supplement your income can make a huge difference. A new job is one option to consider, but if you're not ready to make a big change or already retired, a part-time side job could be a better choice.
Cut your expenses. It sounds painful and so not fun, but it doesn't have to be. Take a look at your biggest expenses because that's where you'll probably find the biggest savings. For example, auto insurance rates have been soaring so shopping around for a new insurance company can be the fastest way to cut your bill. Also, look for ways to cut your grocery bill (despite rising inflation).
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