A finished basement can add a large amount of value to your home, not to mention more livable and usable space. Spending the money to finish your basement can add up quickly especially if all you have in your basement is cement floors and studded “walls.”  

Luckily there are some budget-friendly ways to bring life into your basement. You can do some amazing upgrades with some smart planning. We have compiled a list of ideas to help you find some budget-friendly ways to renovate your basement.  

Here are 6 Low Cost Basement Renovation Ideas

Ceiling, Floor, and Walls 

If the main goal of finishing your basement is to add value to the property for the purpose of making more money when you re-sell, the best thing to do is to focus on simply making the space look finished. If you have never hung sheetrock and finished walls before it is a good idea to call in some professional help.  

Again if the main focus is to make money at the resale stick with materials that are neutral and not high end. The most return on investment will come from basic upgrades (not low quality cheap though).  

Do a Partial Basement Improvement 

When the budget is limiting what can be done, consider not going full out with the entire basement and just focusing on a partial basement. Start with finishing the most important part to you. Do you want an entertainment area/ multipurpose room? Is it most important to add another bedroom because you are outgrowing the home? Start by focusing on one area of the basement now, and as you save money in the future you can finish the rest later on.  


If you can’t afford to install the final touches of sheetrock and flooring to finish out the space consider sprucing the space up with a coat of paint. There are several different types of paint on the market to cover different types of surfaces. Ceilings and ductwork can be painted all the same color, cinderblock walls can be painted with latex masonry paint, and concrete floors can even be painted to make the floors feel warmer and finished. Designer tip: use bright and light colors (neutral for re-sale) to help the room feel big and airy, not like a dark hole in the ground.  

Before you paint in the basement make sure everything is sealed to keep moisture out.  


Save on lighting up a very dark area of your home, by focusing on using lamps and sconces to bounce light of the walls and back into the room. Hanging fixtures are nice, but they cost more and hanging lights make a low ceilings feel even lower.  Another cost-effective way to add lighting is to string bistro lights along exposed beams.  

Easy Install Flooring 

Flooring can easily become one of the most expensive areas in the room. Installing tile, hardwood, or wall to wall carpet in any room is a big investment. A great way to save on flooring in the basement is to install carpet tiles. You can find some tiles as low as $1 or $2 a square foot. An added bonus: they are easy to install so you can save money and install them yourself. 

More: Should you install hardwood in a kitchen?

Do Some of the Labor 

Much of the cost of remodeling is paying someone to do the work. You can save a significant amount by doing some of the labor yourself. If you are not experienced in any type of home improvement we recommend hiring a contractor and asking them what jobs you can handle yourself. Like cleaning and prepping, ripping out old carpet, or painting. Things that don’t require a precise skill.  – 6 Low Cost Basement Renovation Ideas

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