Have you been toying with the idea of finishing the basement in your home? ?Whether you’re looking to add more storage space, increase the resale value, or because you simply can’t live without that state-of-the-art man cave, a finished basement does wonders for a home.

For those looking to make upgrades before putting their house on the market, a professionally finished basement will be a nice selling feature and may increase the resale value. Professionally finished simply means that the proper permits were secured during the renovation process and that the work was carried out in a professional manner.

In most cases you should hire a contractor to tackle this one unless you are skilled at drywall, electric, plumbing, insulation, heating and air improvements. Oh and don’t forget knowledgeable about building codes and the permitting process. That’s a tall order!

So who’s the right contractor for the job? The names of reputable contractors are available from your local Home Builders’ Association. If a contractor is part of an association they are required to be a qualified professional and they will also have access to the latest information and training. Another good source is your friends, family and ?co-workers whom you trust. People will generally share their renovation experiences with you whether good or bad.

Like any home upgrade the total post-renovation value will all depend on how much you invest and the quality of the work that’s carried out. Before you go breaking the bank, it’s important to keep in mind that appraisers don’t assign the same per square foot value to the basement as they do the other floors of a home. So even though it may not add to the appraised value of your property, it can add value in the eyes of a buyer and therefore snag you a better offer at the end of the day.

And remember, the most important part of finishing your basement is to insulate the space properly. If you underestimate this step, your basement will just create the perfect breeding ground for mould and mildew.