Summer is officially here and it’s time to start planning your next home upgrade. There’s certainly a bit of a hierarchy when it comes to home renovations. Kitchens and Bathrooms will always hold the top spot in the world of “Must Haves” for your home. They get the most use and bring back the most consistent return on investment. But if you’ve already tackled those rooms and you’re still looking for ways to upgrade your home, look deep within your home and consider the basement.

Yes, it’s time to look at that long-forgotten space that’s most likely used for storage and consider giving it a much needed makeover. Not just any makeover, a full conversion. Converting your basement into an extra living space will not only give you a more specific type of hangout spot, but it can return up to 90% when done well. Let’s take a look at some of your options.

The Basics

When it comes to basement renovations, you’re looking to spend around $25 – $50 per sq. ft. for a finished basement remodel. Depending on what you decide to create in this new space will also adjust the cost. Electricity, HVAC, and plumbing all affect the cost. If you’re thinking of entertaining, adding a small powder room with toilet and sink is definitely a worthy investment. It also needs to be up to code. Nail down these basics and then specialize from there.

Home Theatre

If you happen to be a movie buff, then supplying yourself with a home theatre is the way to go. You’ll have complete control over sound, lighting, seating; and with today’s streaming capabilities it may become a room you never wanna leave. You can expect to spend anywhere from $10,000 to $50,000 on a home theatre. But hosting movie nights will be a whole new level of luxury you’ll be glad you invested in.

Basement Bar

If social gatherings are more your style, creating a bar in your basement will be the perfect addition to your house. With heating and air available, you can enjoy a jovial atmosphere at all times of the year. Leave the space open with bench seating around the walls. You’ll be able to sit, stand, mingle or dance and allow the bar to remain the focal point of your room. Install hinges to your bench seats and keep their bases open, so as not to lose much needed storage space.

Game Room

While kids may have a monopoly on games, there’s no reason adults can’t enjoy a game room, either. Whether you want to go full nostalgia and create an arcade (or Barcade with mini bar) or a space built for tabletop gaming with secret storage hidden in the walls, a game room is perfect for the growing family. Birthday parties or weekly game nights for a neighborhood block party now have an amazing, permanent location.

Home Gym

If there’s one thing we could all use in our lives it’s a personal gym. It won’t give you anymore space for entertaining, but adding a fitness center in the bottom of your house makes it easy to stick to your fitness routine, without disrupting the flow of your daily life throughout the rest of the house. Best part about a home gym is you can build it to suit your needs. For a compact, but effective gym pair a rowing machine with a cable machine and you’ll have heavy weights, low-impact cardio, and extra room for stretching. Create a dojo of your very own if martial arts are your forte.

Basement conversions are perfect when you want something more out of your home. Whether you lack the space to expand out, or you just want a better, more appealing use for this spare room in your home, basement conversions have a wealth of opportunity for increasing the value and function of your home.