There are several types of basement remodeling depending on the outcomes you want. Whether you have nothing but damp concrete walls and floors or you have a finished basement with painted walls, a pool table and a wet bar will determine the scope of work for your basement remodel and the cost. Here are some common basement remodeling projects that homeowners take on and their related costs.
Also don’t forget: home gyms, wine cellars, theaters and craft rooms. The ideas are endless. Your goal should be to get as much value from the space as possible. If your basement is small, use it to fill a void such as an extra bedroom or additional organized storage space. If it is big, find several fun ways you can utilize the space and add value.
If time is critical, consider a basement finishing kit. A finishing kit has insulated wall panels, and some include a walkable flooring surface and ceiling material for DIY installation. Depending on the size of your basement, these kits can be installed in a weekend. However, the floor won't be carpeted, the walls won't be painted, and there will be no electrical or plumbing. Other features such as doors, trim work, and more also need to be added.
Add to this any custom work that you may want to have done to turn the basement into the type of room you have in mind, and the labor could continue to mount. Most people also find that they need a painter ($20-$35 per hour), and in older homes, asbestos 10 testing and removal ($1,500) is also recommended before the work can begin. For these reasons, many homeowners often choose to use a basement finishing system, which often has one set price for materials and labor (around $50,000 per basement) and decorate later as they choose.
Finishing a basement can cost between $25–$50 per square foot on average, depending on how the basement is finished, whether any challenges come up or whether there are special circumstances with the project. For this reason, a 1,000-square-foot basement can cost up to $50,000 or more to finish. Virgil Miranda of Virgil Miranda’s Construction, a general contracting company based in New Bedford, Massachusetts, says it can be tricky to estimate remodeling jobs based on square footage alone, due to the variance in each job. Larger basements may have a lower cost per square foot than tiny remodel jobs.
Accounting for variables such as square footage, materials, electrical and plumbing, the average basement remodel ranges from $11,034 and $29,226. Some cost as little as $5,000, with top of the line remodels costing over $40,000. The average cost to homeowners is $20,126. Expect to spend between $10 and $35 per square foot depending on the changes made.
Plumbing - Check locally for required permits and any zoning law regulations about adding in plumbing, or whenever working with septic and sewer lines. Planning your basement bathroom directly below or close to the pipes of an existing bathroom may help reduce the overall labor and costs. Remember that all drainage lines require a downhill slope to sluice away waste water. If this isn't possible, a sewage injection pump must be installed. An approximate cost of these pumps ranges from $150-$3,000.
Before walls and flooring can be added, the basement must first be professionally framed. Framing an unfinished basement can be very expensive; not only will it require a large amount of labor, but material costs are high as well. If you consider all the lumber your contractor will need to lay, plus crossbeams and studs, you will find that lumber is going to be one of the costlier aspects of the project.
For homeowners who are seeking fully remodel a basement, then they will be aiming to spend anywhere from $30,000 to $65,000. The varied range depends on the extent of the renovations that are made to the space. The addition of bedrooms, bathrooms, exterior insulation, electrical wiring, plumbing, flooring, furniture, light fixtures and the help of a contractor will all cause an increase in the price. Of course, the cost to remodel a basement will also depend on the square footage of the space.
Determine your budget and costs to finish a basement will help get bids before you make a final decision. For example, you may find a cheaper drywaller than you expected, and can use that extra money to add a bedroom. Or you may find that carpet was more expensive than planned, and you will have to make a dry bar with no sink instead of a wet bar. The budget is a guideline for what goes into your basement, and is really the major factor in determining what your space will be. The costs of labor and material will begin to shape your basement within your budget. One final note on your budget. Unless you plan to spend a long time in the home, you will want your budget to be lower than the value it will add to your home. You can determine the general value added by talking to realtors or appraisers and using comparable sales in your area. This is very important because you don't want to spend $25,000 on your basement and only add $15,000 to the value of your home.
Finishing the ceiling of a basement can be a tricky proposition. In most basements, important pipes, wires, and ducts already crisscross this area, often lowering the total ceiling height. If you were to install a drywall 5 or standard ceiling, you would be encapsulating these items, making them difficult to find and access in the event of an issue. Therefore, most basement ceilings are finished with some type of drop or suspended ceiling, sometimes known as an acoustical ceiling 9 or a grid ceiling.
Since this basement is not entirely underground - it includes a walk-out entrance on one side -- new egress windows bring natural light into the basement. A simple Roman shade in fun fabric softens the space and brings all the colors of the room together. Egress windows provide an emergency exit; most building codes require one in every bedroom and in habitable basements. Adding one will likely increase the value of a home, as it provides safety, natural light, and increased airflow.
Most cities and towns will require a permit for basement remodels. In addition, there are several codes that dictate what can be done in this area. For example, a basement must have a ceiling height of a minimum of 7-feet. If your basement has a ceiling height lower than this, it may not pass code if remodeled. In addition, plan the cost of the building permits, around $430 on average, into your budget.
Assumptions: The flooring in this calculator is carpet. For hardbood flooring or tile your cost will be higher. The costs estimated here are from finishing your basement using typical materials. If you want high end bathroom fixtures, flooring, etc add another 20% to the bottom line. This estimate includes adding one new full bathroom with rough-in plumbing in place.
Drywall must be applied to any framed basement walls you have and must be applied to any additional walls used to create your basement bedroom. A standard 8’ by 4’ panel will cost between $10 and $20, depending on the thickness. The cost to install these panels varies, but most homeowners report spending around $1.50/sf. The total cost of your project will range between $1,152 and $1,982, with an average cost of $1,915 to install a wall.
In addition to floors and walls, upgrading your basement ceiling is another option to consider. Finishing your basement creates a new room in your home and a part of any room is the ceiling. While it’s cheaper to leave the ceiling the way it is, many basements have exposed wiring and duct work that service the home above. In certain cases, leaving all this exposed may be the better option, but for others, upgrading the ceiling could be the right choice. Understand that any addition to the room will up the overall price, so be sure to make the right choice for the space and your wallet.
You've finally decided to do something with that empty basement space. That's half the battle right there. So what do you consider first? The number one thing to start planning your basement is what will it be used for? Do you just want a large finished space to add square footage, do you need more bedrooms, or do you want that great "play" space with a bar and pool table? Addressing what function you want the basement to provide is the foundation for how you will proceed. Some of the considerations which may affect what you do with your space are: Budget - Do this first, figure out the most you can afford to spend, then create a design that includes everything you want. After you get bids, and material costs, you can add or subtract things to meet your budget.
Finished basement on high end house. I designed all of it and spent some time managing the process. Already had lots of windows (walk-out). Used high end materials and design features ( plank laminate flooring with some granite/marble, rope lighting, recessed panels,heavy finish trim molding, recessed lighting, rope lighting, central audio/speakers, full kitchen, full bath,fireplace, zoned HVAC, etc). Took almost 9 months to complete fully. Great finished product.
Most homeowners tend to neglect or overlook the potential of their basement, using it only as an extra storage room. But many homes have basements that are fully capable of being converted into more livable and adaptable space. That adds additional square footage and can significantly enhance your quality of life and the marketability of your home.
Consider what you can do yourself. Finishing your basement is a full process and is not easy. But if you’re looking to save money and are quite handy, consider waterproofing the basement yourself. Basement waterproofing with SANI-TRED® uses a proven application process that is perfect for the do-it-yourself community. You can (and should) hire contractors for specialized tasks like plumbing or electrical, but many can do the waterproofing yourself for less.
Running out of space in your home? Look down under. These homeowners found fresh square footage in their home by remodeling their basement into a budget-friendly, space-savvy hangout. An orange, green, and blue color scheme adds a bright look to the basement, while the combination of custom storage solutions with big-box finds creates a space that serves many needs.