Basement Theater/Game Room [Finished!]

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DNA Dan:
Well despite the costs, it sounds like you are in an area where you will at least retain your value. Think of it as an investment. I know a lot of folks like the appeal of an older neighborhood. If you have a newer, updated home in a great location, all the better.

javeryh:

--- Quote from: DNA Dan on April 16, 2011, 05:58:25 pm ---Well despite the costs, it sounds like you are in an area where you will at least retain your value. Think of it as an investment. I know a lot of folks like the appeal of an older neighborhood. If you have a newer, updated home in a great location, all the better.

--- End quote ---

yeah, we are fairly certain we could retain the value of the addition. Our house has actually increased over 20% in value since we moved in 7 years ago which is incredible considering the rest of the country seems to be underwater. If we do the update I'm fairly certain we could get our money back if we decide to sell but if we go through with this we are basically saying we are going to be here for the next 20 years so "investment" and "value" kind of go out the window.

DNA Dan:
I hear you. At some point you just have to make it comfortable for the long haul. A lot of people shutter to think about staying in the same place for 10, 20 or even 30 years, but before you know it we'll be teaching the kids how to drive, then going to their weddings so they can start their own families. That's why this arcade cab has become such an important thing to me right now. It's just something from my youth that was always there. You could always count on going to the mall and hanging at the arcade after school. Or have some buddies over to play the new Colecovision. There are so many memories I have built around arcades and gaming consoles. It was a big part of my adolescence.

I say if you have the means, DO IT. None of us is getting any younger, and how nice would it be to have your house all done and be enjoying it? Not 10 years down the road, but sometime in the next year?

javeryh:
Well DNA Dan, I'm taking your advice. I lined up some contractors to come out to the house and take a look and start giving me estimates. I totally agree about doing things now rather than later if you have the means (which I do... sort of... I think). The whole point of building a kickass basement and making the house bigger is for my kids (6-1/2 and almost 4). Every year I wait is lost time.

Tomorrow the first contractor comes over to take a look at the house and the plans I've had drawn up. He seemed to indicate that if I have the floor plan he can just run with that as most of their projects are designed by their internal team rather than an actual architect. We shall see...

leapinlew:

--- Quote from: javeryh on May 04, 2011, 06:15:55 pm ---Well DNA Dan, I'm taking your advice. I lined up some contractors to come out to the house and take a look and start giving me estimates. I totally agree about doing things now rather than later if you have the means (which I do... sort of... I think). The whole point of building a kickass basement and making the house bigger is for my kids (6-1/2 and almost 4). Every year I wait is lost time.

Tomorrow the first contractor comes over to take a look at the house and the plans I've had drawn up. He seemed to indicate that if I have the floor plan he can just run with that as most of their projects are designed by their internal team rather than an actual architect. We shall see...

--- End quote ---

Javery, I've worked with lots of contractors and I am going to assume you haven't. If you have, ignore this advice or at the least - don't take offense to it.

When it comes to the payments, there should be milestone payments setup to protect both you and the contractor. I prefer to not pay until the milestones are accomplished, but sometimes I pay before hand. For example, we just had a pool installed and the milestones were:

Agree on plans, sign contract = 5%
complete digging hole = 5%
Delivery of pool = 50%
Installation of pool = 10%
Installation of Electrical/plumbing = 10%
concrete installation = 5%
Final Grade of yard/cover/misc = 5%

I only paid as the job proceeded and inspections were passed. I've been burned in the past and would hate to see anyone else put in the same position. If a contractor needs a lot of money up front, it's a red flag to me. I've seen these guys get caught up in their own pyramid type schemes completing work for past customers using future customers money. In the end, somebody is going to get burned.

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