Why Basement Finishing Projects Fail

Finishing a basement is a dream for many homeowners in Canada. It expands the living space and allows you to create an apartment you can rent out for income. Not to forget the boost to the property’s value. But for a variety of reasons, many basement finishing projects run into challenges and eventually stall.

Finishing the basement puts some function to a space that, if many homeowners had it their way, they would not have made a part of the house. Because of it, the project is often seen as an opportunity to experiment and create something that truly reflects your personal taste. And therein lies the reason why many such projects run aground. 

It feels forgivable that the basement finishing project may not produce the desired result because the space is hidden away and was never meant to amount to much more than the house’s foundation. With the pressure to get it right relieved, many proceed without a proper plan, which can lead to the following:

Sometimes a homeowner does have a plan, but it isn’t written down with timelines nor supported by an itemized budget. As a result, the plan changes far too often that either they run out of money or it becomes apparent that an important step was missed during the project’s execution.

A common occurrence where a homeowner isn’t following a properly laid down plan is that they bite more than they can chew and go overboard with the fixtures. Inevitably they will run out of money at a critical stage of the basement finishing project.

Even with the associated risks, many homeowners don’t apply for permits before finishing their basements. Often they don’t think they need one or want to save money and time. But because the plan is ever-evolving it will become clear that maybe not getting a permit wasn’t such a smart idea. 

An example is where one decides mid-project that they want to change the original design or function of the basement. If the new plan is to convert the basement into a bedroom, the law demands that there be an alternative fire escape. This entails adding a window that a firefighter in full gear can enter through.

If the local authority finds out that you are remodeling your basement without a permit, they can order you to stop all construction work or tear down all the work you had done and get your permits sorted first. If that doesn’t stall a project, it will very likely kill it.

It is important to know that permits exist for a reason, the number one of which is your own safety. Unpermitted work can weaken the foundation and jeopardize the structural integrity of the entire building. If it’s unpermitted electrical work, you can cause a fire and put lives and property at risk. 

Only if you obtain a permit does the city send a building inspector to review the work and make sure the structure remains safe. And even if you manage to complete the work without the city finding out you didn’t have the necessary permit, it will still come back to bite you. You will struggle to get the house properly appraised should you decide to sell it or refinance your mortgage, which means you lose value.

You are not the only property owner stuck with a stalled remodeling project. Such is the state of the Covid economy that even large multi-unit property developments have been put on ice. While it will be a challenge and may mean more expenses than originally envisaged, you can still get your basement project back on track. Here are some tips on that:

The first step to reviving a stalled basement project is to investigate the real reason why it ran into difficulties. The reasons aren’t always as clear as they seem. Yes, you eventually ran out of money, but why did that happen?

It may seem that you ran out of money because you bought expensive materials, but the real reason could be that you were not working from a plan and a budget. A plan and a budget will inform you before you purchase anything whether you need to change or tweak the design.

It may not be too late to make some changes to bring the project back on budget. If it is, be pragmatic and separate the project into phases that you will execute as your finances allow.

Unfortunately, there is very little wiggle room in instances where the project stalled because you violated code or built without a permit. Take it on the chin and pay the fine. Take the opportunity to discuss with the responsible city authority or knowledgeable contractor how you can rescue the project without incurring too many additional expenses.

Unfortunately, even where all the required permits were in place, if a project had stalled for an extended period, those permits may no longer be valid. In Ontario, where the work has stalled, a building permit is only valid for 6 months. After that, you have to seek an extension or apply for a new one.

Now, if your permits had expired and you decided to proceed without a new permit you could actually be fined. The project can also be delayed a second time.

Proceeding as if nothing had happened can mean your basement walls may not be as water-tight as before. Will the power and gas lines still be intact and secure? Applying for a fresh permit allows you to benefit from the expertise of an inspector who can easily pick up issues you may not be able to yourself.

With a stalled project it is important to know if you can proceed with the original plan without incurring losses on the sunk costs. Sometimes you are forced to change direction, which can be the only way you can save the project. 

For example, if you had planned to convert the basement into a bedroom you may realize the ceiling is too low and that raising it will be too expensive. It won’t be the worst idea to turn it into a more functional storage space, game room, or wine cellar.

Many of the problems property owners run into and which eventually cause them to abandon a basement remodeling project can be fixed even before any work has been done. The simple fix is hiring an experienced contractor to do the work. 

Yes, there is a lot of pride to be gained from completing a major home renovation project on your own. But too often we overestimate our skills and end up ruining a project. Basements especially are a tricky part of the house to remodel without the help of an experienced contractor.

An experienced, professional contractor will make sure you have all your permits in place. If they don’t have the skills on-staff, they will subcontract electrical, waterproofing, and any other technical work to properly skilled people. The benefit is you avoid overlooking issues that may derail the project later. 

Contrary to what many homeowners believe, hiring a professional basement remodeling contractor can actually save you money. Even on a stalled basement project that you are looking to revive, it is never too late to hire a professional contractor. In fact, it can be your best foot forward. 

In Toronto, homeowners trust Assured Basements for their basement remodels. Contact us today to discuss how we can bring your stalled basement project back on track