Any renovation you do needs to answer a few basic questions.
Why do you want to renovate? Are you maximizing your space? Is there value in the renovation? If you honestly answer these questions you will know right away if you are wasting your time and money. I have seen many basement reno’s that kinda suck. The only reason they suck is they didn’t maximize their space and throwing money at a bad idea is like flushing money down the toilet because the reno did not add value to your property.
This is how I answered my basement reno questions. 1. To add a guest bedroom and entertainment area in the basement. 2. The floor plan has utilized every inch of space. 3. This basement renovation adds real value to this 2 bedroom home by adding a 3rd bedroom and a much needed entertainment room.
I spent about $25k on this project. I did not spend the extra $50k to lower the basement floor. The reality is this basement is made for sitting or sleeping. A ceiling height of 6’5″ is fine for this basement. The $50k I saved I can use for a future investment property.