Are you up for more basement remodeling jobs this year? A recent Home Advisor survey suggests a bump in business from an unusual customer group: first-time homeowners in their 20s and 30s.
Millennials, now the nation’s largest group, are beginning to take the leap into home ownership. With new careers — and no home equity to tap for a down payment — they’re foregoing the house of their dreams to settle for existing starter homes. And starter homes tend to be older, smaller and shorter on living space. It’s no wonder, according to the Home Advisor survey findings, that 19 percent of first-time homeowners are planning to improve their basements. And, millennial homeowners are 89 percent more likely to remodel a basement than homeowners from other generations.
These young customers will be turning to remodeling pros to help them transform dark, outdated basements into inviting, comfortable living spaces.
What isn’t transformable: millennials’ renovation budgets; the average cost of a basement remodel is $18,850 — serious money.
You can help millennials stretch their remodeling budget by guiding them toward smart, cost-effective improvements that will improve the value and livability of their home — like well-insulated walls and updated ceilings.
Walls and ceilings need love
Older basements are notoriously damp and cold because they’re below grade and often poorly insulated. This leads to condensation in walls and on ceilings — which in turn creates lingering mold and mildew problems.
Properly insulated basements feel comfortable in all seasons, and have lower heating and cooling costs, too. Full insulation is best for interior walls in basements, where almost any type of insulation can be used. Wall insulation is recommended, rather than ceiling insulation, in basements.
But no improvements can compensate for a basement ceiling that’s unfinished, sagging or outdated — like old and stained drop ceilings. Ceilings matter because they create a visual frame for the entire room, and with the right products, can assist in mold and mildew resistance and even noise reduction. Even better, today’s versatile choices have never been easier to install.
Wood-look ceilings, such as the Armstrong Ceilings WoodHaven collection, offer the warmth of wood without the weight — making them an easy lift for remodelers. The planks can be installed directly over an existing drop ceiling grid for a completely new appearance in the room. And they come in a wide range of finishes — including classic white, rustic pine and many more.
Another look is decorative drop ceiling tiles that come in 2x2’ sizes rather than the traditional 2x4’. Simply pop out the sagging tiles, insert a cross tee and place the new, beautiful coffered or patterned tiles.
When you show young, first-time homeowners that remodeling their basement is a great investment in their home’s livability and resale value, they’ll be more willing to do it right.
Learn more at Ceilings.com.