The basement is one of those places in the home that doesn’t always get a lot of attention. But renovating it can actually be a really good way to add value to your home. Remodeling your basement adds more livable space, creates additional storage space, and depending on how you decorate, can even improve the functionality of your home. But a revamp definitely doesn’t come cheap. In fact, according to Angie’s List, the average basement renovation costs a steep $22,608.

The good news is that, when it comes to remodeling your basement, you can have your cake and eat it, too. All you need is patience and planning, and you can be on your way to enjoying your new, elevated basement without spending several paychecks to do it.

To help you get started, remodeling expert Danielle Mathews, co-owner of Calgary renovation contractor Reborn Renovations, dropped by to share her best tips on how to upgrade your basement. To turn your space into a personal abode, take a look at her expert hacks below.

Take on a DIY project.

If you like crafting, turning your basement renovation into a DIY project is another good way to save money. You can do everything from painting the walls to building shelving, even if you’re a beginner. And if you’re really about that DIY life, you can try out more advanced projects like installing flooring or even adding a bathroom.

But no matter which DIY project you decide to do, you can find many online tutorials and even home improvement communities to help you along the way. According to Danielle, “Not only will DIY projects save you money, but they’ll also give you a sense of accomplishment and pride in your home.”

How Much You Can Save: Opting to do it yourself rather than hire a pro can save you between $1,000 and $5,000 in labor costs.

Repurpose what you already have.

Sometimes, just working with what you already have can be just as good as buying new materials. You can repurpose things that are already in your basement, or you can upcycle items old furniture, cabinets, and decor from other parts of the home, too. “With a fresh coat of paint or a bit of creativity, you can breathe new life into these items and give your basement a unique charm,” Danielle advises.

Of course, you might need to buy something you don’t already have. If this is the case, try sourcing for gently used items at thrift stores, yard sales, or even an online marketplace.

How Much You Can Save: Upcycling can save you anywhere between $500 to $2,000 compared to buying new.

Opt for budget-friendly design solutions.

Because it can be really easy to overdo it when designing a space, keeping it simple is typically the safest option.

For example, Danielle says to “stick to neutral color palettes and timeless design elements that will stand the test of time.”

She also suggests incorporating affordable, multifunctional furniture pieces like a sleeper sofa or foldable wall desk to save space, while boosting functionality.

How Much You Can Save: You can save between $500 and $1,500 when you swap out dedicated furniture for cheaper, multi-functional pieces.

Maximize space and functionality.

If you don’t have a lot of space in your basement, you can create more by working with what you do have. According to Danielle, you can utilize shelving units, under-stair storage, and other built-in storage solutions to not only use up some of that vertical space you have but to also keep the remaining space neat and clutter-free.

How Much You Can Save: Getting creative with your vertical space can help you save between $300 to $1,000.

Enhance without overspending.

You don’t have to spend an arm and a leg to renovate your basement, or any room for that matter. In fact, simple upgrades like adding floating shelves or an area rug can make a pretty big impact on their own.

Danielle suggests saving even more money down the line by making modest improvements like investing in energy-efficient lighting or insulating the walls. That way, you can save money on energy costs later on.

How Much You Can Save: Making minor changes like this can have a major impact on your wallet to the tune of $400 to $1,200.